Ultrapar Participacoes S.A. (NYSE:UGP) Given Average Recommendation of “Moderate Buy” by Brokerages

Ultrapar Participacoes S.A. (NYSE:UGP) has been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.40.

UGP has been the subject of several recent analyst reports. Weiss Ratings upgraded Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Bank of America raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their price target for the stock from $6.80 to $7.40 in a research note on Wednesday, July 8th. The Goldman Sachs Group dropped their price objective on Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating for the company in a report on Wednesday, August 26th. UBS Group upped their price objective on Ultrapar Participacoes from $7.00 to $7.20 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, Wall Street Zen upgraded Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th.

Ultrapar Participacoes Price Performance

UGP stock opened at $7.15 on Friday. The stock has a market cap of $7.98 billion, a PE ratio of 11.72, a P/E/G ratio of 0.43 and a beta of 0.73. Ultrapar Participacoes has a 12 month low of $3.58 and a 12 month high of $7.25. The company has a 50-day moving average price of $6.15 and a 200 day moving average price of $5.65. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74.

Ultrapar Participacoes (NYSE:UGP) last posted its quarterly earnings data on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $8.18 billion. Equities research analysts anticipate that Ultrapar Participacoes will post 0.78 earnings per share for the current year.

Ultrapar Participacoes Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, September 14th. Stockholders of record on Wednesday, August 26th will be paid a dividend of $0.1932 per share. This represents a dividend yield of 599.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Ultrapar Participacoes’s payout ratio is currently 50.82%.

Insider Activity at Ultrapar Participacoes

In related news, CEO Decio De Sampaio Amaral sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total value of $55,440.00. Following the transaction, the chief executive officer owned 151,432 shares of the company’s stock, valued at $1,049,423.76. This trade represents a 5.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ultrapar Participacoes

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in shares of Ultrapar Participacoes by 98.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,214,612 shares of the oil and gas company’s stock worth $15,889,000 after acquiring an additional 2,087,852 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Ultrapar Participacoes by 10.6% in the first quarter. Renaissance Technologies LLC now owns 3,740,700 shares of the oil and gas company’s stock valued at $20,611,000 after purchasing an additional 357,922 shares during the period. UBS Group AG boosted its holdings in shares of Ultrapar Participacoes by 131.9% in the third quarter. UBS Group AG now owns 2,890,033 shares of the oil and gas company’s stock valued at $11,849,000 after purchasing an additional 1,643,562 shares during the period. Millennium Management LLC grew its stake in Ultrapar Participacoes by 306.4% in the third quarter. Millennium Management LLC now owns 2,796,662 shares of the oil and gas company’s stock worth $11,466,000 after purchasing an additional 2,108,543 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Ultrapar Participacoes by 42,357.3% in the fourth quarter. Deutsche Bank AG now owns 2,147,914 shares of the oil and gas company’s stock worth $8,098,000 after purchasing an additional 2,142,855 shares in the last quarter. 3.58% of the stock is currently owned by institutional investors.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.