Ultrapar Participacoes (NYSE:UGP) Hits New 12-Month High on Analyst Upgrade

Key Points

• Ultrapar Participacoes S.A. shares reached a new 12-month high after Goldman Sachs upgraded their price target from $4.00 to $4.50, maintaining a buy rating on the stock.
• A consensus of analysts now rates Ultrapar with a Buy rating, supported by additional upgrades from Scotiabank and Wall Street Zen, both raising their ratings to strong-buy.
• The company's stock performance includes a market cap of $4.51 billion and a recent dividend payout with a yield of 360.0% despite a low dividend payout ratio of 22.22%.

Shares of Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) reached a new 52-week high on Monday after The Goldman Sachs Group raised their price target on the stock from $4.00 to $4.50. The Goldman Sachs Group currently has a buy rating on the stock. Ultrapar Participacoes traded as high as $4.13 and last traded at $4.05, with a volume of 172677 shares. The stock had previously closed at $3.94.

A number of other equities research analysts also recently commented on UGP. Scotiabank upgraded Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, July 28th. Wall Street Zen upgraded Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $4.50.

Hedge Funds Weigh In On Ultrapar Participacoes

Large investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Ultrapar Participacoes by 55.6% during the first quarter. CWM LLC now owns 9,463 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 3,380 shares during the period. Wolverine Trading LLC bought a new position in shares of Ultrapar Participacoes during the fourth quarter worth approximately $35,000. Regatta Capital Group LLC bought a new position in shares of Ultrapar Participacoes during the second quarter worth approximately $41,000. Wealthquest Corp bought a new position in shares of Ultrapar Participacoes during the first quarter worth approximately $45,000. Finally, Ballentine Partners LLC bought a new position in shares of Ultrapar Participacoes during the first quarter worth approximately $45,000. Institutional investors own 3.58% of the company's stock.

Ultrapar Participacoes Stock Performance

The stock has a 50 day simple moving average of $3.44 and a 200 day simple moving average of $3.19. The company has a current ratio of 1.82, a quick ratio of 1.38 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.51 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10.

Ultrapar Participacoes Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were paid a dividend of $0.0555 per share. This represents a yield of 360.0%. The ex-dividend date was Monday, August 25th. Ultrapar Participacoes's dividend payout ratio (DPR) is 22.22%.

About Ultrapar Participacoes

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.