Ultrapar Participacoes (NYSE:UGP) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Ultrapar Participacoes (NYSE:UGP) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks reports.

A number of other equities analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Ultrapar Participacoes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Bank of America raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.80 to $7.40 in a research report on Wednesday, July 8th. The Goldman Sachs Group decreased their price target on Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. UBS Group raised their price target on Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a “buy” rating in a research report on Friday, September 4th. Finally, Scotiabank cut Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a research note on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.54.

Ultrapar Participacoes Trading Up 2.0%

Ultrapar Participacoes stock traded up $0.15 during mid-day trading on Thursday, hitting $7.79. The company’s stock had a trading volume of 3,525,273 shares, compared to its average volume of 4,693,848. The firm has a market capitalization of $8.70 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 0.43 and a beta of 0.71. Ultrapar Participacoes has a 1 year low of $3.60 and a 1 year high of $8.28. 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 stock’s fifty day moving average is $7.15 and its two-hundred day moving average is $6.17.

Ultrapar Participacoes (NYSE:UGP) last posted its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.18 billion. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%. On average, analysts anticipate that Ultrapar Participacoes will post 0.84 EPS for the current year.

Ultrapar Participacoes Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, September 14th. Shareholders of record on Wednesday, August 26th were given a $0.1932 dividend. This represents a yield of 599.0%. The ex-dividend date of this dividend was Wednesday, August 26th. Ultrapar Participacoes’s dividend payout ratio (DPR) is currently 50.82%.

Insider Buying and Selling at Ultrapar Participacoes

In other Ultrapar Participacoes news, insider Pedro Guedes Rabelo sold 30,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $7.58, for a total value of $227,400.00. Following the completion of the transaction, the insider owned 57,898 shares in the company, valued at $438,866.84. The trade was a 34.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andre Saleme Hachem sold 39,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $7.67, for a total transaction of $300,664.00. Following the sale, the chief financial officer owned 25,675 shares in the company, valued at $196,927.25. The trade was a 60.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 77,785 shares of company stock valued at $587,312 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of hedge funds and other institutional investors have recently made changes to their positions in UGP. TD Waterhouse Canada Inc. acquired a new position in Ultrapar Participacoes in the 3rd quarter valued at about $1,108,000. Western Financial Corp CA acquired a new stake in Ultrapar Participacoes during the 3rd quarter worth approximately $142,000. Plan A Wealth LLC grew its stake in shares of Ultrapar Participacoes by 24.3% in the 3rd quarter. Plan A Wealth LLC now owns 15,620 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 3,050 shares during the last quarter. Engineers Gate Manager LP grew its stake in shares of Ultrapar Participacoes by 419.7% in the 2nd quarter. Engineers Gate Manager LP now owns 257,957 shares of the oil and gas company’s stock valued at $1,295,000 after purchasing an additional 208,319 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Ultrapar Participacoes in the 2nd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian holding company with operations focused on energy, fuel distribution and logistics. Through its businesses, the company supplies fuels, liquefied petroleum gas (LPG) and related services to consumers, commercial customers and industrial clients.

Its principal businesses include Ipiranga, one of Brazil’s major fuel distribution companies, and Ultragaz, which distributes LPG for residential, commercial and industrial use. Ultrapar also owns Ultracargo, a provider of storage and handling services for liquid bulk products, including fuels, chemicals and other industrial materials.

Ultrapar’s operations are concentrated primarily in Brazil, with activities supported by distribution networks, terminals and storage infrastructure across key regions of the country.