Renaissance Technologies LLC Buys 1,497,300 Shares of Ultrapar Participações S.A. (NYSE:UGP)

Renaissance Technologies LLC boosted its stake in Ultrapar Participações S.A. (NYSE:UGP) by 74.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,513,800 shares of the oil and gas company’s stock after purchasing an additional 1,497,300 shares during the period. Renaissance Technologies LLC owned approximately 0.32% of Ultrapar Participações worth $9,241,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings in shares of Ultrapar Participações by 23.0% in the fourth quarter. Signaturefd LLC now owns 19,705 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 3,688 shares during the period. QRG Capital Management Inc. boosted its position in Ultrapar Participações by 38.1% in the fourth quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 5,687 shares during the last quarter. Sei Investments Co. grew its stake in shares of Ultrapar Participações by 27.9% during the 4th quarter. Sei Investments Co. now owns 31,534 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 6,882 shares during the period. Quadrant Capital Group LLC increased its position in shares of Ultrapar Participações by 49.6% during the 4th quarter. Quadrant Capital Group LLC now owns 27,813 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 9,220 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Ultrapar Participações by 26.0% in the 3rd quarter. Jane Street Group LLC now owns 48,712 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 10,037 shares during the period. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

Ultrapar Participações Trading Up 3.3 %

Shares of Ultrapar Participações stock opened at $2.98 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The company has a fifty day moving average of $2.94 and a 200 day moving average of $3.07. The company has a market capitalization of $3.32 billion, a P/E ratio of 6.47, a P/E/G ratio of 2.39 and a beta of 1.10. Ultrapar Participações S.A. has a fifty-two week low of $2.53 and a fifty-two week high of $5.37.

Ultrapar Participações Cuts Dividend

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

Wall Street Analyst Weigh In

UGP has been the subject of a number of research reports. Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a report on Friday, December 27th. The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $4.10 to $3.20 in a report on Friday, January 31st. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Hsbc Global Res raised Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. Finally, HSBC raised Ultrapar Participações from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Two investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3.20.

About Ultrapar Participações

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.