Hsbc Holdings PLC Has $951,000 Holdings in Ultrapar Participacoes S.A. $UGP

Key Points

• Hsbc Holdings PLC reduced its stake in Ultrapar Participacoes S.A. by 22.2% in the first quarter, selling 88,341 shares and now holding 309,210 shares valued at approximately $951,000.
• Several research firms have upgraded Ultrapar's stock ratings to "strong-buy", with a consensus target price of $3.20 as of recent assessments.
• Ultrapar announced a semi-annual dividend of $0.0555 per share, with a dividend yield of 360.0%, despite recent developments indicating a potential cut in dividends.

Hsbc Holdings PLC cut its position in shares of Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 22.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 309,210 shares of the oil and gas company's stock after selling 88,341 shares during the period. Hsbc Holdings PLC's holdings in Ultrapar Participacoes were worth $951,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Polunin Capital Partners Ltd acquired a new position in Ultrapar Participacoes in the 1st quarter valued at about $26,736,000. Two Sigma Investments LP grew its stake in Ultrapar Participacoes by 58.2% in the 4th quarter. Two Sigma Investments LP now owns 1,654,373 shares of the oil and gas company's stock valued at $4,351,000 after buying an additional 608,951 shares during the last quarter. Millennium Management LLC grew its stake in Ultrapar Participacoes by 76.4% in the 4th quarter. Millennium Management LLC now owns 1,175,452 shares of the oil and gas company's stock valued at $3,091,000 after buying an additional 509,037 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Ultrapar Participacoes by 194.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 734,949 shares of the oil and gas company's stock valued at $1,933,000 after buying an additional 485,299 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Ultrapar Participacoes by 588.7% in the 4th quarter. BNP Paribas Financial Markets now owns 467,712 shares of the oil and gas company's stock valued at $1,230,000 after buying an additional 399,798 shares during the last quarter. 3.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Scotiabank raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, Ultrapar Participacoes has a consensus rating of "Buy" and a consensus price target of $3.20.

Ultrapar Participacoes Price Performance

Shares of Ultrapar Participacoes stock traded up $0.01 on Wednesday, reaching $3.64. 1,328,603 shares of the stock were exchanged, compared to its average volume of 1,854,645. The firm's 50 day moving average is $3.19 and its 200-day moving average is $3.06. Ultrapar Participacoes S.A. has a one year low of $2.53 and a one year high of $4.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.38 and a current ratio of 1.82. The firm has a market cap of $4.05 billion, a PE ratio of 8.08, a P/E/G ratio of 3.61 and a beta of 1.11.

Ultrapar Participacoes Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be given a dividend of $0.0555 per share. This represents a yield of 360.0%. The ex-dividend date is Monday, August 25th. Ultrapar Participacoes's dividend payout ratio is currently 22.22%.

Ultrapar Participacoes 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.