Ultrapar Participações (NYSE:UGP) Downgraded by StockNews.com

StockNews.com lowered shares of Ultrapar Participações (NYSE:UGP) from a buy rating to a hold rating in a research report released on Monday morning.

Other research analysts also recently issued reports about the company. HSBC upgraded Ultrapar Participações from a reduce rating to a hold rating in a report on Friday, July 19th. Hsbc Global Res raised Ultrapar Participações from a strong sell rating to a hold rating in a research report on Friday, July 19th. Citigroup raised Ultrapar Participações from a neutral rating to a buy rating in a research report on Friday, June 14th. Finally, The Goldman Sachs Group lowered their price objective on Ultrapar Participações from $5.90 to $5.20 and set a neutral rating for the company in a research report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Ultrapar Participações has a consensus rating of Hold and a consensus target price of $5.20.

Ultrapar Participações Trading Up 1.1 %

Shares of NYSE UGP opened at $3.75 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.16 and a current ratio of 1.55. The business’s 50 day moving average price is $4.09 and its 200-day moving average price is $4.46. Ultrapar Participações has a fifty-two week low of $3.66 and a fifty-two week high of $6.34. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.78 and a beta of 1.60.

Ultrapar Participações (NYSE:UGP) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $6.21 billion for the quarter. Ultrapar Participações had a return on equity of 20.24% and a net margin of 2.21%. On average, sell-side analysts expect that Ultrapar Participações will post 0.34 earnings per share for the current year.

Ultrapar Participações Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.0446 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a yield of 2.7%. Ultrapar Participações’s dividend payout ratio is currently 16.67%.

Hedge Funds Weigh In On Ultrapar Participações

A number of institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management raised its stake in shares of Ultrapar Participações by 54.0% during the 3rd quarter. Ritholtz Wealth Management now owns 283,247 shares of the oil and gas company’s stock valued at $1,099,000 after buying an additional 99,324 shares during the last quarter. Aprio Wealth Management LLC raised its stake in shares of Ultrapar Participações by 63.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 43,516 shares of the oil and gas company’s stock valued at $169,000 after buying an additional 16,967 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Ultrapar Participações by 332.6% during the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after buying an additional 1,099,433 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Ultrapar Participações by 128.2% during the 2nd quarter. XTX Topco Ltd now owns 66,631 shares of the oil and gas company’s stock valued at $261,000 after buying an additional 37,436 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Ultrapar Participações by 57.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after buying an additional 898,600 shares during the last quarter. Hedge funds and other institutional investors own 3.58% of the company’s stock.

About Ultrapar Participações

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.