Ultrapar Participações (NYSE:UGP) Shares Up 4% – Time to Buy?

Ultrapar Participações S.A. (NYSE:UGP)’s share price traded up 4% during trading on Tuesday . The stock traded as high as $3.22 and last traded at $3.23. 647,519 shares changed hands during trading, a decline of 61% from the average session volume of 1,647,040 shares. The stock had previously closed at $3.10.

Analysts Set New Price Targets

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

Ultrapar Participações Price Performance

The firm’s fifty day moving average price is $2.87 and its 200-day moving average price is $3.19. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76. The stock has a market cap of $3.53 billion, a P/E ratio of 6.90, a PEG ratio of 2.39 and a beta of 1.42.

Ultrapar Participações Cuts Dividend

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

Hedge Funds Weigh In On Ultrapar Participações

Hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new position in Ultrapar Participações during the 4th quarter valued at about $29,000. Franklin Resources Inc. purchased a new position in shares of Ultrapar Participações during the fourth quarter valued at approximately $31,000. Wolverine Trading LLC bought a new position in shares of Ultrapar Participações during the fourth quarter valued at approximately $35,000. Freedom Investment Management Inc. bought a new position in shares of Ultrapar Participações during the third quarter valued at approximately $48,000. Finally, Signaturefd LLC lifted its stake in Ultrapar Participações by 23.0% in 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 during the period. 3.58% of the stock is owned by institutional investors.

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.