Ultrapar Participações S.A. (NYSE:UGP) Receives $3.20 Consensus Target Price from Brokerages

Shares of Ultrapar Participações S.A. (NYSE:UGP) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3.20.

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. The Goldman Sachs Group raised shares of Ultrapar Participações from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $4.10 to $3.20 in a research note on Friday, January 31st. Finally, HSBC raised Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Ultrapar Participações Stock Performance

Shares of UGP stock opened at $3.12 on Wednesday. The firm’s 50 day moving average is $2.91 and its 200 day moving average is $3.18. The stock has a market capitalization of $3.47 billion, a P/E ratio of 6.77, a PEG ratio of 2.39 and a beta of 1.42. 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 has a 12 month low of $2.53 and a 12 month high of $5.85.

Ultrapar Participações Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.0774 per share. The ex-dividend date of this dividend was 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

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Ultrapar Participações by 71.8% in the third quarter. BNP Paribas Financial Markets now owns 67,914 shares of the oil and gas company’s stock worth $264,000 after buying an additional 28,379 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Ultrapar Participações in the 3rd quarter worth $1,595,000. SG Americas Securities LLC bought a new stake in Ultrapar Participações during the fourth quarter worth approximately $374,000. JPMorgan Chase & Co. increased its position in shares of Ultrapar Participações by 194.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 159,142 shares of the oil and gas company’s stock valued at $617,000 after purchasing an additional 105,133 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Ultrapar Participações by 38.1% during the 4th quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 5,687 shares during the period. 3.58% of the stock is currently 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.