Ultrapar Participações (NYSE:UGP) Shares Gap Up – Here’s Why

Ultrapar Participações S.A. (NYSE:UGP) shares gapped up prior to trading on Thursday . The stock had previously closed at $3.10, but opened at $3.19. Ultrapar Participações shares last traded at $3.21, with a volume of 62,804 shares traded.

Wall Street Analysts Forecast Growth

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

Ultrapar Participações Price Performance

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 business has a 50 day simple moving average of $2.93 and a two-hundred day simple moving average of $3.15. The firm has a market capitalization of $3.52 billion, a P/E ratio of 6.87, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42.

Ultrapar Participações Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.0774 dividend. This represents a dividend yield of 3.8%. The ex-dividend date was Monday, March 10th. Ultrapar Participações’s payout ratio is 33.33%.

Institutional Trading of Ultrapar Participações

Hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV purchased a new stake in Ultrapar Participações during the fourth quarter valued at about $29,000. Franklin Resources Inc. bought a new stake in Ultrapar Participações in the 4th quarter worth approximately $31,000. Wolverine Trading LLC bought a new stake in Ultrapar Participações in the 4th quarter worth approximately $35,000. Signaturefd LLC grew its position in Ultrapar Participações by 23.0% during the fourth quarter. Signaturefd LLC now owns 19,705 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 3,688 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Ultrapar Participações by 38.1% during the fourth quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 5,687 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.