Brokerages Set Ultrapar Participações S.A. (NYSE:UGP) Target Price at $3.20

Ultrapar Participações S.A. (NYSE:UGP) has earned a consensus recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $3.20.

Several analysts have recently weighed in on UGP shares. 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. JPMorgan Chase & Co. raised shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. HSBC upgraded Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and decreased their target price for the company from $4.10 to $3.20 in a research report on Friday, January 31st. Finally, Scotiabank upgraded Ultrapar Participações to a “hold” rating in a report on Friday, December 27th.

Ultrapar Participações Trading Up 0.5 %

NYSE UGP opened at $3.10 on Wednesday. Ultrapar Participações has a one year low of $2.53 and a one year high of $5.85. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11. The business has a 50 day simple moving average of $2.92 and a 200 day simple moving average of $3.15. The stock has a market capitalization of $3.45 billion, a P/E ratio of 6.73, a P/E/G ratio of 2.39 and a beta of 1.42.

Ultrapar Participações Cuts Dividend

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

Hedge Funds Weigh In On Ultrapar Participações

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in shares of Ultrapar Participações by 74.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company’s stock valued at $9,241,000 after purchasing an additional 1,497,300 shares in the last quarter. Marshall Wace LLP raised its position in Ultrapar Participações by 18.7% in the 4th quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company’s stock valued at $7,420,000 after buying an additional 444,724 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in 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 valued at $4,764,000 after acquiring an additional 115,600 shares in the last quarter. American Century Companies Inc. boosted its holdings in Ultrapar Participações by 6.5% during 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 acquiring an additional 108,213 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Ultrapar Participações by 58.2% in 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 acquiring 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.