Ultrapar Participações (NYSE:UGP) Sees Unusually-High Trading Volume – What’s Next?

Shares of Ultrapar Participações S.A. (NYSE:UGP) saw strong trading volume on Monday . 3,368,109 shares were traded during trading, an increase of 126% from the previous session’s volume of 1,491,473 shares.The stock last traded at $3.14 and had previously closed at $3.03.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UGP. 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 upgraded shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. The Goldman Sachs Group upgraded Ultrapar Participações from a “neutral” rating to a “buy” rating and cut their price target for the company from $4.10 to $3.20 in a research note on Friday, January 31st. HSBC upgraded Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Three equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Ultrapar Participações Stock Up 3.1 %

The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 2.39 and a beta of 1.42. The business’s 50 day moving average is $2.81 and its 200-day moving average is $3.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57.

Ultrapar Participações Cuts Dividend

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

Hedge Funds Weigh In On Ultrapar Participações

A number of institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Ultrapar Participações in the 4th quarter worth approximately $29,000. Franklin Resources Inc. acquired a new position in Ultrapar Participações during the 4th quarter worth approximately $31,000. Wolverine Trading LLC purchased a new position in Ultrapar Participações in the fourth quarter valued at $35,000. Freedom Investment Management Inc. acquired a new stake in shares of Ultrapar Participações during the 3rd quarter worth about $48,000. Finally, Signaturefd LLC boosted its holdings in shares of Ultrapar Participações by 23.0% in the 4th quarter. Signaturefd LLC now owns 19,705 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 3,688 shares in the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

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.