Ultrapar Participacoes S.A. (NYSE:UGP) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Ultrapar Participacoes S.A. has garnered an average rating of "Buy" from seven analysts, with three assigning a strong buy recommendation and an average 12-month price target of $4.50.
• The firm recently cut its dividend but still yielded 360.0%, with a current dividend payout ratio of 20.00%.
• Institutional investors have increasingly shown interest, with notable stakes increased by Vident Advisory LLC and BNP Paribas Financial Markets in the second quarter.

Ultrapar Participacoes S.A. (NYSE:UGP - Get Free Report) has received an average rating of "Buy" from the seven analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $4.50.

Several brokerages have recently issued reports on UGP. Zacks Research raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, September 29th. The Goldman Sachs Group boosted their price target on shares of Ultrapar Participacoes from $4.00 to $4.50 and gave the company a "buy" rating in a report on Friday, September 26th. Wall Street Zen raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Ultrapar Participacoes in a report on Wednesday. Finally, Scotiabank raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, July 28th.

Ultrapar Participacoes Price Performance

Shares of UGP stock opened at $3.88 on Friday. Ultrapar Participacoes has a 12-month low of $2.53 and a 12-month high of $4.16. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 2.02 and a beta of 1.13. The company has a quick ratio of 1.38, a current ratio of 1.82 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average of $3.64 and a 200-day moving average of $3.25.

Ultrapar Participacoes Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a $0.0555 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a yield of 360.0%. Ultrapar Participacoes's dividend payout ratio is presently 20.00%.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vident Advisory LLC boosted its stake in Ultrapar Participacoes by 93.6% in the 2nd quarter. Vident Advisory LLC now owns 268,982 shares of the oil and gas company's stock worth $882,000 after purchasing an additional 130,076 shares during the period. BNP Paribas Financial Markets boosted its stake in Ultrapar Participacoes by 434.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 374,838 shares of the oil and gas company's stock worth $1,229,000 after purchasing an additional 304,758 shares during the period. Jane Street Group LLC acquired a new position in Ultrapar Participacoes in the 2nd quarter worth $510,000. The Manufacturers Life Insurance Company acquired a new position in Ultrapar Participacoes in the 2nd quarter worth $56,000. Finally, Sei Investments Co. boosted its stake in Ultrapar Participacoes by 26.6% in the 2nd quarter. Sei Investments Co. now owns 66,997 shares of the oil and gas company's stock worth $220,000 after purchasing an additional 14,060 shares during the period. 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.

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