Ultrapar Participacoes (NYSE:UGP) Hits New 52-Week High – Still a Buy?

Ultrapar Participacoes S.A. (NYSE:UGP) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $6.59 and last traded at $6.5450, with a volume of 2827543 shares trading hands. The stock had previously closed at $6.33.

Analysts Set New Price Targets

UGP has been the subject of several research reports. Wall Street Zen raised shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings raised Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Bank of America upgraded Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $6.80 to $7.40 in a research report on Wednesday, July 8th. Finally, UBS Group increased their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the company a “buy” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Ultrapar Participacoes currently has a consensus rating of “Moderate Buy” and an average target price of $6.32.

Ultrapar Participacoes Stock Up 2.9%

The business’s 50 day simple moving average is $5.77 and its 200 day simple moving average is $5.53. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $7.52 billion, a PE ratio of 11.05, a PEG ratio of 0.39 and a beta of 0.70.

Ultrapar Participacoes (NYSE:UGP) last announced its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $8.18 billion. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. On average, equities research analysts forecast that Ultrapar Participacoes S.A. will post 0.78 earnings per share for the current year.

Ultrapar Participacoes Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, September 14th. Shareholders of record on Wednesday, August 26th will be given a dividend of $0.1932 per share. The ex-dividend date is Wednesday, August 26th. This represents a yield of 634.0%. Ultrapar Participacoes’s dividend payout ratio is 34.43%.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of institutional investors and hedge funds have recently modified their holdings of UGP. Caitong International Asset Management Co. Ltd purchased a new stake in Ultrapar Participacoes during the 4th quarter valued at $32,000. EverSource Wealth Advisors LLC boosted its stake in Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,982 shares during the period. GeoWealth Management LLC purchased a new position in Ultrapar Participacoes during the fourth quarter worth $44,000. EP Wealth Advisors LLC purchased a new position in Ultrapar Participacoes during the fourth quarter worth $45,000. Finally, Boothbay Fund Management LLC bought a new position in Ultrapar Participacoes during the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.