JPMorgan Chase & Co. Acquires 1,215,605 Shares of Ultrapar Participações S.A. (NYSE:UGP)

JPMorgan Chase & Co. grew its position in Ultrapar Participações S.A. (NYSE:UGP - Free Report) by 763.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,374,747 shares of the oil and gas company's stock after acquiring an additional 1,215,605 shares during the period. JPMorgan Chase & Co. owned 0.12% of Ultrapar Participações worth $3,616,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Ultrapar Participações during the 4th quarter worth approximately $374,000. Virtu Financial LLC bought a new position in Ultrapar Participações during the third quarter worth $452,000. Hennessy Advisors Inc. grew its holdings in Ultrapar Participações by 6.8% in the fourth 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 during the period. American Century Companies Inc. increased its stake in Ultrapar Participações by 6.5% in the fourth quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company's stock valued at $4,671,000 after purchasing an additional 108,213 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Ultrapar Participações during the fourth quarter valued at about $253,000. Institutional investors own 3.58% of the company's stock.

Analyst Ratings Changes

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

Ultrapar Participações Stock Performance

UGP stock traded up $0.02 during midday trading on Friday, hitting $3.18. The company's stock had a trading volume of 342,267 shares, compared to its average volume of 1,628,278. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 2.39 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76. The stock's 50-day moving average price is $2.95 and its 200 day moving average price is $3.04. Ultrapar Participações S.A. has a 1 year low of $2.53 and a 1 year high of $5.37.

Ultrapar Participações Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.0774 dividend. 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 (DPR) is currently 33.33%.

Ultrapar Participações 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.