Ultrapar Participações (NYSE:UGP) Trading Down 2.1% – What’s Next?

Shares of Ultrapar Participações S.A. (NYSE:UGP) were down 2.1% during mid-day trading on Monday . The company traded as low as $3.10 and last traded at $3.11. Approximately 156,289 shares traded hands during trading, a decline of 90% from the average daily volume of 1,529,684 shares. The stock had previously closed at $3.17.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UGP. Hsbc Global Res raised shares of Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and cut their target price for the company from $4.10 to $3.20 in a research report on Friday, January 31st. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Scotiabank upgraded shares of Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th. Finally, HSBC raised Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Ultrapar Participações Price Performance

The company has a market capitalization of $3.48 billion, a P/E ratio of 6.78, a PEG ratio of 2.39 and a beta of 1.42. The stock’s fifty day simple moving average is $2.86 and its 200-day simple moving average is $3.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.

Ultrapar Participações Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.0774 dividend. The ex-dividend date is Monday, March 10th. This represents a dividend yield of 3.8%. Ultrapar Participações’s payout ratio is 33.33%.

Institutional Investors Weigh In On Ultrapar Participações

Several institutional investors and hedge funds have recently made changes to their positions in UGP. Mercer Global Advisors Inc. ADV acquired a new position in Ultrapar Participações during the 4th quarter valued at about $29,000. Franklin Resources Inc. bought a new stake in shares of Ultrapar Participações in the fourth quarter worth $31,000. Wolverine Trading LLC acquired a new position in shares of Ultrapar Participações during the 4th quarter worth about $35,000. Freedom Investment Management Inc. bought a new position in Ultrapar Participações in the third quarter valued at approximately $48,000. Finally, Signaturefd LLC raised its position in Ultrapar Participações by 23.0% during the fourth quarter. Signaturefd LLC now owns 19,705 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 3,688 shares in the last quarter. Institutional investors and hedge funds own 3.58% of the company’s stock.

Ultrapar Participações 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.