Ultrapar Participações (NYSE:UGP) Shares Gap Up to $4.11

Ultrapar Participações S.A. (NYSE:UGP)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.11, but opened at $4.27. Ultrapar Participações shares last traded at $4.28, with a volume of 45,260 shares trading hands.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. HSBC upgraded shares of Ultrapar Participações from a “reduce” rating to a “hold” rating in a report on Friday, July 19th. Hsbc Global Res raised shares of Ultrapar Participações from a “strong sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Citigroup raised shares of Ultrapar Participações from a “neutral” rating to a “buy” rating in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.25.

Ultrapar Participações Stock Down 5.0 %

The company has a current ratio of 1.55, a quick ratio of 1.16 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $4.54 billion, a P/E ratio of 8.49, a P/E/G ratio of 2.94 and a beta of 1.61. The stock’s 50-day simple moving average is $4.16 and its 200-day simple moving average is $4.73.

Ultrapar Participações (NYSE:UGP) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Ultrapar Participações had a return on equity of 20.24% and a net margin of 2.21%. The company had revenue of $6.21 billion during the quarter. As a group, research analysts predict that Ultrapar Participações S.A. will post 0.34 earnings per share for the current fiscal year.

Ultrapar Participações Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a $0.0446 dividend. This represents a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 19th. Ultrapar Participações’s dividend payout ratio is 16.67%.

Hedge Funds Weigh In On Ultrapar Participações

Several institutional investors and hedge funds have recently bought and sold shares of UGP. Acadian Asset Management LLC grew its stake in shares of Ultrapar Participações by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock worth $14,713,000 after acquiring an additional 293,036 shares during the period. Renaissance Technologies LLC raised its position in shares of Ultrapar Participações by 57.9% in the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after purchasing an additional 898,600 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Ultrapar Participações during the 2nd quarter valued at approximately $5,887,000. Marshall Wace LLP boosted its holdings in Ultrapar Participações by 332.6% in the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after buying an additional 1,099,433 shares during the period. Finally, Longfellow Investment Management Co. LLC grew its stake in Ultrapar Participações by 27.3% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock valued at $1,726,000 after buying an additional 94,761 shares in the last quarter. 3.58% of the stock is owned by institutional investors.

Ultrapar Participações Company Profile

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.