Ultrapar Participacoes (NYSE:UGP) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Ultrapar Participacoes stock price has crossed above its 200-day moving average of $3.01, reaching a high of $3.22 during trading recently.
• Analysts have mixed ratings for Ultrapar, with one firm downgrading from "buy" to "hold" and another upgrading from "hold" to "strong-buy," leading to an overall average recommendation of "Buy."
• The company, with a market capitalization of $3.56 billion, operates in the energy sector in Brazil, providing services such as gas distribution and renewable electricity.

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.01 and traded as high as $3.22. Ultrapar Participacoes shares last traded at $3.20, with a volume of 2,257,491 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports 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 lowered Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $3.20.

Ultrapar Participacoes Price Performance

The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 3.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.26. The company has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $3.02.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its holdings in shares of Ultrapar Participacoes by 61.3% during the first quarter. Sequoia Financial Advisors LLC now owns 52,395 shares of the oil and gas company's stock valued at $161,000 after purchasing an additional 19,918 shares during the period. GAMMA Investing LLC boosted its position in shares of Ultrapar Participacoes by 92.9% in the 1st quarter. GAMMA Investing LLC now owns 17,413 shares of the oil and gas company's stock valued at $54,000 after purchasing an additional 8,388 shares during the period. Jane Street Group LLC boosted its position in shares of Ultrapar Participacoes by 200.9% in the 4th quarter. Jane Street Group LLC now owns 146,591 shares of the oil and gas company's stock valued at $386,000 after purchasing an additional 97,879 shares during the period. Bank of America Corp DE boosted its position in Ultrapar Participacoes by 33.5% during the 4th quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company's stock worth $2,594,000 after acquiring an additional 247,755 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in Ultrapar Participacoes during the 1st quarter worth about $831,000. 3.58% of the stock is owned by institutional investors and hedge funds.

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.