Envestnet Asset Management Inc. Trims Position in Ultrapar Participações S.A. (NYSE:UGP)

Envestnet Asset Management Inc. trimmed its position in shares of Ultrapar Participações S.A. (NYSE:UGP - Free Report) by 79.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,277 shares of the oil and gas company's stock after selling 132,693 shares during the period. Envestnet Asset Management Inc.'s holdings in Ultrapar Participações were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in UGP. JPMorgan Chase & Co. grew its holdings in Ultrapar Participações by 763.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock valued at $3,616,000 after buying an additional 1,215,605 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Ultrapar Participações by 162.2% in the fourth quarter. Wellington Management Group LLP now owns 599,642 shares of the oil and gas company's stock valued at $1,577,000 after acquiring an additional 370,960 shares during the period. SG Americas Securities LLC bought a new stake in Ultrapar Participações during the 4th quarter worth approximately $374,000. Hennessy Advisors Inc. lifted its stake in Ultrapar Participações by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company's stock worth $4,764,000 after purchasing an additional 115,600 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Ultrapar Participações by 6.5% in the 4th quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company's stock worth $4,671,000 after purchasing an additional 108,213 shares in the last quarter. 3.58% of the stock is currently owned by institutional investors.

Ultrapar Participações Stock Performance

Shares of UGP traded down $0.01 on Wednesday, reaching $3.11. The company's stock had a trading volume of 714,618 shares, compared to its average volume of 1,642,679. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11. Ultrapar Participações S.A. has a 12-month low of $2.53 and a 12-month high of $4.96. The stock has a market capitalization of $3.46 billion, a P/E ratio of 6.75, a PEG ratio of 2.39 and a beta of 1.13. The stock's 50 day simple moving average is $3.00 and its two-hundred day simple moving average is $2.98.

Ultrapar Participações Cuts Dividend

The business 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a yield of 3.8%. Ultrapar Participações's dividend payout ratio (DPR) is presently 36.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UGP. Hsbc Global Res upgraded Ultrapar Participações from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 17th. StockNews.com upgraded Ultrapar Participações from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. The Goldman Sachs Group raised Ultrapar Participações from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $4.10 to $3.20 in a report on Friday, January 31st. Finally, HSBC raised shares of Ultrapar Participações from a "hold" rating to a "buy" rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ultrapar Participações presently has an average rating of "Buy" and a consensus target price 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.