Renaissance Technologies LLC grew its stake in Ultrapar Participações S.A. (NYSE:UGP - Free Report) by 74.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,513,800 shares of the oil and gas company's stock after buying an additional 1,497,300 shares during the quarter. Renaissance Technologies LLC owned 0.32% of Ultrapar Participações worth $9,241,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in Ultrapar Participações by 115.1% in the 4th quarter. Invesco Ltd. now owns 84,907 shares of the oil and gas company's stock worth $223,000 after purchasing an additional 45,435 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Ultrapar Participações by 49.6% during the fourth quarter. Quadrant Capital Group LLC now owns 27,813 shares of the oil and gas company's stock worth $73,000 after buying an additional 9,220 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Ultrapar Participações during the fourth quarter worth about $288,000. Franklin Resources Inc. bought a new position in shares of Ultrapar Participações during the fourth quarter worth about $31,000. Finally, Wellington Management Group LLP raised its position in Ultrapar Participações by 162.2% in the 4th quarter. Wellington Management Group LLP now owns 599,642 shares of the oil and gas company's stock valued at $1,577,000 after buying an additional 370,960 shares during the last quarter. Institutional investors and hedge funds own 3.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on UGP shares. HSBC raised Ultrapar Participações from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $4.10 to $3.20 in a research note on Friday, January 31st. JPMorgan Chase & Co. raised Ultrapar Participações from a "neutral" rating to an "overweight" rating in a research report on Tuesday, January 7th. Scotiabank raised Ultrapar Participações to a "hold" rating in a research report on Friday, December 27th. Finally, Hsbc Global Res raised Ultrapar Participações from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $3.20.
Get Our Latest Research Report on UGP
Ultrapar Participações Stock Performance
Shares of NYSE UGP traded up $0.09 during midday trading on Wednesday, hitting $3.08. 288,286 shares of the company's stock were exchanged, compared to its average volume of 1,624,059. 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 firm has a market capitalization of $3.44 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. Ultrapar Participações S.A. has a 12 month low of $2.53 and a 12 month high of $5.37. The company's 50 day moving average price is $2.95 and its 200 day moving average price is $3.04.
Ultrapar Participações Cuts Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.0774 per share. The ex-dividend date was Monday, March 10th. This represents a yield of 3.8%. Ultrapar Participações's dividend payout ratio (DPR) is presently 33.33%.
Ultrapar Participações Company Profile
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Free Report)
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.
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