Ultrapar Participacoes (NYSE:UGP) Stock Price Up 3.5% – Here’s Why

Ultrapar Participacoes S.A. (NYSE:UGP)’s share price was up 3.5% during mid-day trading on Wednesday . The stock traded as high as $3.31 and last traded at $3.26. Approximately 662,107 shares changed hands during trading, a decline of 64% from the average daily volume of 1,863,799 shares. The stock had previously closed at $3.15.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Scotiabank upgraded Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, Ultrapar Participacoes currently has a consensus rating of “Buy” and an average target price of $3.20.

Ultrapar Participacoes Trading Down 0.2%

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.26 and a current ratio of 1.82. The company has a 50-day simple moving average of $3.13 and a 200 day simple moving average of $3.03. The company has a market capitalization of $3.66 billion, a P/E ratio of 7.30, a P/E/G ratio of 3.25 and a beta of 1.05.

Ultrapar Participacoes Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 25th will be given a $0.0555 dividend. This represents a yield of 360.0%. The ex-dividend date of this dividend is Monday, August 25th. Ultrapar Participacoes’s payout ratio is currently 31.11%.

Institutional Trading of Ultrapar Participacoes

A number of institutional investors and hedge funds have recently modified their holdings of the company. Polunin Capital Partners Ltd increased its position in shares of Ultrapar Participacoes by 8.9% during the second quarter. Polunin Capital Partners Ltd now owns 9,457,242 shares of the oil and gas company’s stock valued at $31,398,000 after purchasing an additional 776,808 shares during the period. American Century Companies Inc. increased its position in shares of Ultrapar Participacoes by 42.4% during the second quarter. American Century Companies Inc. now owns 2,695,322 shares of the oil and gas company’s stock valued at $8,841,000 after purchasing an additional 803,065 shares during the period. JPMorgan Chase & Co. grew its position in Ultrapar Participacoes by 75.2% in the second quarter. JPMorgan Chase & Co. now owns 1,878,904 shares of the oil and gas company’s stock valued at $6,163,000 after acquiring an additional 806,463 shares during the period. Two Sigma Investments LP grew its position in Ultrapar Participacoes by 58.2% in the fourth quarter. Two Sigma Investments LP now owns 1,654,373 shares of the oil and gas company’s stock valued at $4,351,000 after acquiring an additional 608,951 shares during the period. Finally, Two Sigma Advisers LP grew its position in Ultrapar Participacoes by 18.9% in the fourth quarter. Two Sigma Advisers LP now owns 1,382,300 shares of the oil and gas company’s stock valued at $3,635,000 after acquiring an additional 220,200 shares during the period. 3.58% of the stock is currently owned by institutional investors.

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.