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

Ultrapar Participações S.A. (NYSE:UGP) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.20.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. StockNews.com cut shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. 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. Finally, The Goldman Sachs Group upgraded 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 report on Friday, January 31st.

Hedge Funds Weigh In On Ultrapar Participações

Large investors have recently modified their holdings of the company. Creative Planning raised its holdings in shares of Ultrapar Participações by 45.2% during the third quarter. Creative Planning now owns 55,980 shares of the oil and gas company’s stock valued at $217,000 after acquiring an additional 17,430 shares in the last quarter. PDS Planning Inc grew its stake in shares of Ultrapar Participações by 90.2% in the third quarter. PDS Planning Inc now owns 21,408 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 10,153 shares during the last quarter. Aigen Investment Management LP boosted its position in shares of Ultrapar Participações by 19.4% during the third quarter. Aigen Investment Management LP now owns 38,120 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 6,205 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Ultrapar Participações by 33.5% during the third quarter. Metis Global Partners LLC now owns 40,340 shares of the oil and gas company’s stock valued at $157,000 after buying an additional 10,119 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Ultrapar Participações by 71.8% in the third quarter. Advisors Asset Management Inc. now owns 134,363 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 56,142 shares during the period. 3.58% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participações Price Performance

UGP opened at $2.84 on Friday. The company has a fifty day simple moving average of $2.78 and a 200 day simple moving average of $3.32. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 6.16, a PEG ratio of 2.39 and a beta of 1.52. Ultrapar Participações has a twelve month low of $2.53 and a twelve month high of $5.97. 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 Cuts Dividend

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

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.