Ultrapar Participações (NYSE:UGP) Shares Gap Up – Here’s Why

Shares of Ultrapar Participações S.A. (NYSE:UGP) gapped up prior to trading on Thursday . The stock had previously closed at $3.10, but opened at $3.19. Ultrapar Participações shares last traded at $3.21, with a volume of 62,804 shares traded.

Analyst Ratings Changes

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

Ultrapar Participações Stock Down 7.4 %

The company has a market cap of $3.28 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 2.39 and a beta of 1.42. The business has a fifty day moving average of $2.94 and a two-hundred day moving average of $3.14. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Ultrapar Participações Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.0774 per share. This represents a dividend yield of 3.8%. The ex-dividend date was Monday, March 10th. Ultrapar Participações’s payout ratio is 33.33%.

Institutional Investors Weigh In On Ultrapar Participações

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Ultrapar Participações by 74.3% during the fourth quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company’s stock worth $9,241,000 after acquiring an additional 1,497,300 shares during the period. Marshall Wace LLP raised its position in shares of Ultrapar Participações by 18.7% during the 4th quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company’s stock worth $7,420,000 after purchasing an additional 444,724 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of Ultrapar Participações by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company’s stock worth $4,764,000 after purchasing an additional 115,600 shares during the last quarter. American Century Companies Inc. boosted its holdings in Ultrapar Participações by 6.5% in the 4th quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company’s stock worth $4,671,000 after buying an additional 108,213 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in Ultrapar Participações by 58.2% during the 4th quarter. Two Sigma Investments LP now owns 1,654,373 shares of the oil and gas company’s stock worth $4,351,000 after buying an additional 608,951 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.