Ultrapar Participacoes (NYSE:UGP) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Ultrapar Participacoes (NYSE:UGP) from a hold rating to a strong-buy rating in a research note published on Friday.

Separately, Scotiabank upgraded shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research 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 stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $3.20.

Ultrapar Participacoes Stock Performance

Shares of Ultrapar Participacoes stock opened at $3.3650 on Friday. Ultrapar Participacoes has a fifty-two week low of $2.53 and a fifty-two week high of $4.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.82 and a quick ratio of 1.26. The firm has a market capitalization of $3.75 billion, a P/E ratio of 7.48, a P/E/G ratio of 3.24 and a beta of 1.05. The company’s 50 day moving average price is $3.14 and its two-hundred day moving average price is $3.03.

Ultrapar Participacoes Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a $0.0555 dividend. This represents a yield of 360.0%. The ex-dividend date is Monday, August 25th. Ultrapar Participacoes’s dividend payout ratio is presently 31.11%.

Hedge Funds Weigh In On Ultrapar Participacoes

Several hedge funds and other institutional investors have recently bought and sold shares of UGP. Sequoia Financial Advisors LLC grew its holdings in Ultrapar Participacoes by 61.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 52,395 shares of the oil and gas company’s stock worth $161,000 after acquiring an additional 19,918 shares during the period. GAMMA Investing LLC lifted its stake 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 lifted its stake 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 lifted its stake in shares of Ultrapar Participacoes by 33.5% in the 4th quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company’s stock valued at $2,594,000 after purchasing an additional 247,755 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in shares of Ultrapar Participacoes in the 1st quarter valued at about $831,000. Institutional investors and hedge funds own 3.58% of the company’s stock.

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.