Ultrapar Participacoes (NYSE:UGP) Hits New 1-Year High – Here’s What Happened

Ultrapar Participacoes S.A. (NYSE:UGP) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $4.16 and last traded at $4.1550, with a volume of 909463 shares. The stock had previously closed at $4.13.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UGP. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ultrapar Participacoes in a report on Wednesday, October 8th. Zacks Research upgraded Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. The Goldman Sachs Group upped their price target on Ultrapar Participacoes from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Friday, September 26th. Wall Street Zen raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Friday, August 22nd. Finally, Scotiabank upgraded Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Ultrapar Participacoes currently has a consensus rating of “Buy” and an average target price of $4.50.

Ultrapar Participacoes Trading Up 1.1%

The company has a fifty day moving average of $3.89 and a 200-day moving average of $3.38. The company has a current ratio of 1.82, a quick ratio of 1.38 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 2.03 and a beta of 1.08.

Ultrapar Participacoes Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a $0.0555 dividend. This represents a yield of 360.0%. The ex-dividend date of this dividend was Monday, August 25th. Ultrapar Participacoes’s dividend payout ratio is currently 20.00%.

Institutional Investors Weigh In On Ultrapar Participacoes

Large investors have recently modified their holdings of the business. CWM LLC raised its position in shares of Ultrapar Participacoes by 55.6% in the first quarter. CWM LLC now owns 9,463 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 3,380 shares during the last quarter. Regatta Capital Group LLC purchased a new stake in Ultrapar Participacoes during the 2nd quarter valued at about $41,000. Quadrature Capital Ltd purchased a new stake in Ultrapar Participacoes during the 2nd quarter valued at about $45,000. Wealthstream Advisors Inc. acquired a new stake in Ultrapar Participacoes in the 2nd quarter valued at about $46,000. Finally, Plan A Wealth LLC lifted its stake in Ultrapar Participacoes by 32.4% in the 3rd quarter. Plan A Wealth LLC now owns 14,056 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 3,438 shares in the last quarter. Hedge funds and other institutional investors own 3.58% of the company’s stock.

About Ultrapar Participacoes

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.