Ultrapar Participacoes S.A. (NYSE:UGP) Receives $4.50 Average PT from Brokerages

Shares of Ultrapar Participacoes S.A. (NYSE:UGP) have been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $4.50.

A number of equities analysts recently weighed in on UGP shares. Scotiabank upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ultrapar Participacoes in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. The Goldman Sachs Group boosted their target price on shares of Ultrapar Participacoes from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd.

Institutional Investors Weigh In On Ultrapar Participacoes

Several institutional investors have recently made changes to their positions in UGP. JPMorgan Chase & Co. boosted its position in shares of Ultrapar Participacoes by 75.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,878,904 shares of the oil and gas company’s stock worth $6,163,000 after purchasing an additional 806,463 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Ultrapar Participacoes by 42.4% during the 2nd quarter. American Century Companies Inc. now owns 2,695,322 shares of the oil and gas company’s stock worth $8,841,000 after purchasing an additional 803,065 shares in the last quarter. Polunin Capital Partners Ltd boosted its position in shares of Ultrapar Participacoes by 8.9% during the 2nd quarter. Polunin Capital Partners Ltd now owns 9,457,242 shares of the oil and gas company’s stock worth $31,398,000 after purchasing an additional 776,808 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Ultrapar Participacoes by 1,248.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 497,253 shares of the oil and gas company’s stock worth $1,631,000 after buying an additional 460,388 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Ultrapar Participacoes by 434.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 374,838 shares of the oil and gas company’s stock worth $1,229,000 after buying an additional 304,758 shares in the last quarter. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

Ultrapar Participacoes Stock Performance

NYSE:UGP opened at $3.85 on Friday. The firm’s fifty day moving average price is $3.67 and its 200 day moving average price is $3.26. Ultrapar Participacoes has a 1-year low of $2.53 and a 1-year high of $4.16. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.82 and a quick ratio of 1.38. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.

Ultrapar Participacoes Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a dividend of $0.0555 per share. This represents a dividend yield of 360.0%. The ex-dividend date was Monday, August 25th. Ultrapar Participacoes’s payout ratio is presently 20.00%.

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.