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

Shares of Ultrapar Participacoes S.A. (NYSE:UGP) reached a new 52-week high on Tuesday . The stock traded as high as $7.36 and last traded at $7.4230, with a volume of 3624180 shares traded. The stock had previously closed at $7.28.

Analyst Ratings Changes

UGP has been the topic of several recent analyst reports. Bank of America upgraded shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $6.80 to $7.40 in a research note on Wednesday, July 8th. The Goldman Sachs Group cut their price objective on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating for the company in a research report on Wednesday, August 26th. UBS Group upped their target price on Ultrapar Participacoes from $7.20 to $7.90 and gave the company a “buy” rating in a research report on Friday. Finally, Weiss Ratings raised Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.54.

Ultrapar Participacoes Price Performance

The business has a 50 day moving average price of $6.25 and a two-hundred day moving average price of $5.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.64. The stock has a market cap of $8.29 billion, a PE ratio of 12.17, a P/E/G ratio of 0.42 and a beta of 0.73.

Ultrapar Participacoes (NYSE:UGP) last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%.The firm had revenue of $8 billion during the quarter, compared to the consensus estimate of $8.18 billion. Research analysts expect that Ultrapar Participacoes S.A. will post 0.8 earnings per share for the current fiscal year.

Ultrapar Participacoes Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, September 14th. Investors 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 dividend yield of 599.0%. Ultrapar Participacoes’s payout ratio is currently 50.82%.

Insider Activity

In related news, CEO Decio De Sampaio Amaral sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $6.93, for a total value of $55,440.00. Following the sale, the chief executive officer owned 151,432 shares in the company, valued at $1,049,423.76. This represents a 5.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ultrapar Participacoes

A number of hedge funds have recently added to or reduced their stakes in UGP. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ultrapar Participacoes in the fourth quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position in shares of Ultrapar Participacoes by 45.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,982 shares during the period. GeoWealth Management LLC bought a new position in shares of Ultrapar Participacoes in the fourth quarter worth about $44,000. EP Wealth Advisors LLC purchased a new position in Ultrapar Participacoes during the fourth quarter valued at approximately $45,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Ultrapar Participacoes in the fourth quarter worth $47,000. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

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.