Short Interest in Ultrapar Participações S.A. (NYSE:UGP) Declines By 41.0%

Ultrapar Participações S.A. (NYSE:UGP) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,950,000 shares, a drop of 41.0% from the February 13th total of 5,000,000 shares. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Ultrapar Participações

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP increased its holdings in shares of Ultrapar Participações by 19.4% in the third quarter. Aigen Investment Management LP now owns 38,120 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 6,205 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Ultrapar Participações by 33.5% in the third quarter. Metis Global Partners LLC now owns 40,340 shares of the oil and gas company’s stock valued at $157,000 after buying an additional 10,119 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Ultrapar Participações by 71.8% in the third quarter. Advisors Asset Management Inc. now owns 134,363 shares of the oil and gas company’s stock valued at $521,000 after buying an additional 56,142 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Ultrapar Participações by 50.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 166,966 shares of the oil and gas company’s stock valued at $648,000 after buying an additional 56,005 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Ultrapar Participações by 6.6% in the third quarter. The Manufacturers Life Insurance Company now owns 251,203 shares of the oil and gas company’s stock valued at $975,000 after buying an additional 15,517 shares in the last quarter. Institutional investors own 3.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Hsbc Global Res raised Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. Scotiabank raised Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th. The Goldman Sachs Group upgraded Ultrapar Participações from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $4.10 to $3.20 in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, HSBC upgraded Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.20.

Ultrapar Participações Stock Performance

UGP opened at $3.05 on Monday. The business’s 50 day moving average is $2.81 and its 200-day moving average is $3.24. The stock has a market cap of $3.40 billion, a PE ratio of 6.62, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. Ultrapar Participações has a twelve month low of $2.53 and a twelve month high of $5.85.

Ultrapar Participações Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a dividend of $0.0774 per share. The ex-dividend date is Monday, March 10th. This represents a yield of 3.8%. Ultrapar Participações’s payout ratio is 33.33%.

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.