Ultrapar Participacoes (NYSE:UGP) Reaches New 1-Year High - Here's What Happened

Key Points

• Ultrapar Participacoes shares reached a new 52-week high, trading as high as $6.88 and last at $6.945, up from a prior close of $6.66.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” from seven analysts and an average price target of $6.40; Bank of America raised its target to $7.40.
• The company reported quarterly EPS of $0.28, slightly above the $0.27 consensus, while revenue of $8 billion fell short of estimates. Ultrapar also announced a $0.1932-per-share dividend payable September 14.

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $6.88 and last traded at $6.9450, with a volume of 155467 shares. The stock had previously closed at $6.66.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UGP. Wall Street Zen raised shares of Ultrapar Participacoes from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Ultrapar Participacoes from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. The Goldman Sachs Group decreased their target price on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a "neutral" rating for the company in a research report on Wednesday, August 26th. Bank of America upgraded shares of Ultrapar Participacoes from a "neutral" rating to a "buy" rating and raised their price target for the company from $6.80 to $7.40 in a research note on Wednesday, July 8th. Finally, UBS Group lifted their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the company a "buy" rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.40.

Ultrapar Participacoes Stock Up 4.7%

The stock has a market cap of $7.78 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.39 and a beta of 0.70. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock's 50-day moving average is $6.03 and its 200-day moving average is $5.61.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.18 billion. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. As a group, research analysts anticipate that Ultrapar Participacoes S.A. will post 0.78 earnings per share for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, September 14th. Investors of record on Wednesday, August 26th will be issued a dividend of $0.1932 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a yield of 599.0%. Ultrapar Participacoes's payout ratio is presently 50.82%.

Institutional Investors Weigh In On Ultrapar Participacoes

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP increased its position in shares of Ultrapar Participacoes by 2.7% during the 2nd quarter. Corient Private Wealth LP now owns 62,497 shares of the oil and gas company's stock valued at $314,000 after purchasing an additional 1,651 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Ultrapar Participacoes by 2.8% in the first quarter. Sequoia Financial Advisors LLC now owns 64,807 shares of the oil and gas company's stock valued at $357,000 after buying an additional 1,784 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company's stock valued at $35,000 after buying an additional 1,982 shares during the period. Hsbc Holdings PLC boosted its stake in Ultrapar Participacoes by 0.7% during the first quarter. Hsbc Holdings PLC now owns 450,668 shares of the oil and gas company's stock valued at $2,483,000 after buying an additional 3,050 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Ultrapar Participacoes by 32.3% during the fourth quarter. Franklin Resources Inc. now owns 19,210 shares of the oil and gas company's stock valued at $72,000 after buying an additional 4,688 shares in the last quarter. 3.58% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil's largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.

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