Brokerages Set Ultrapar Participacoes S.A. (NYSE:UGP) PT at $4.50

Shares of Ultrapar Participacoes S.A. (NYSE:UGP) have received an average rating of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $4.50.

A number of equities research analysts recently weighed in on UGP shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ultrapar Participacoes in a research report on Monday, December 22nd. Zacks Research upgraded Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Finally, The Goldman Sachs Group upped their target price on Ultrapar Participacoes from $4.00 to $4.50 and gave the company a “buy” rating in a report on Friday, September 26th.

Ultrapar Participacoes Stock Performance

Ultrapar Participacoes stock opened at $3.75 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.83 and a quick ratio of 1.40. Ultrapar Participacoes has a 12 month low of $2.53 and a 12 month high of $4.40. The company has a fifty day moving average price of $3.98 and a two-hundred day moving average price of $3.63. The company has a market cap of $4.18 billion, a PE ratio of 7.97, a P/E/G ratio of 1.34 and a beta of 0.89.

Ultrapar Participacoes Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were paid a dividend of $0.1876 per share. The ex-dividend date was Friday, December 12th. Ultrapar Participacoes’s dividend payout ratio is presently 59.57%.

Hedge Funds Weigh In On Ultrapar Participacoes

Several hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new position in shares of Ultrapar Participacoes during the third quarter worth about $14,639,000. JPMorgan Chase & Co. lifted its position in Ultrapar Participacoes by 117.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,084,186 shares of the oil and gas company’s stock valued at $16,745,000 after purchasing an additional 2,205,282 shares during the last quarter. Millennium Management LLC boosted its stake in Ultrapar Participacoes by 306.4% during the 3rd quarter. Millennium Management LLC now owns 2,796,662 shares of the oil and gas company’s stock valued at $11,466,000 after purchasing an additional 2,108,543 shares during the period. UBS Group AG grew its position in Ultrapar Participacoes by 131.9% in the 3rd quarter. UBS Group AG now owns 2,890,033 shares of the oil and gas company’s stock worth $11,849,000 after purchasing an additional 1,643,562 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Ultrapar Participacoes by 42.4% in the second quarter. American Century Companies Inc. now owns 2,695,322 shares of the oil and gas company’s stock valued at $8,841,000 after purchasing an additional 803,065 shares during the period. Institutional investors and hedge funds own 3.58% of the company’s stock.

About Ultrapar Participacoes

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.