Ultrapar Participações (NYSE:UGP) Shares Gap Up – Here’s What Happened

Ultrapar Participações S.A. (NYSE:UGP)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $3.10, but opened at $3.19. Ultrapar Participações shares last traded at $3.21, with a volume of 62,804 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UGP shares. HSBC raised shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Hsbc Global Res upgraded Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Scotiabank raised shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. Finally, The Goldman Sachs Group raised shares of Ultrapar Participações from a “neutral” rating to a “buy” rating and reduced their price target for the company from $4.10 to $3.20 in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.20.

Ultrapar Participações Trading Down 7.4 %

The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 6.40, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The company has a 50 day moving average of $2.94 and a 200-day moving average of $3.14.

Ultrapar Participações Cuts Dividend

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

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently made changes to their positions in UGP. Renaissance Technologies LLC increased its stake in shares of Ultrapar Participações by 74.3% during the fourth quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company’s stock worth $9,241,000 after buying an additional 1,497,300 shares during the period. JPMorgan Chase & Co. increased its holdings in Ultrapar Participações by 763.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company’s stock valued at $3,616,000 after buying an additional 1,215,605 shares during the last quarter. Two Sigma Investments LP raised its stake in Ultrapar Participações by 58.2% in the fourth quarter. Two Sigma Investments LP now owns 1,654,373 shares of the oil and gas company’s stock valued at $4,351,000 after buying an additional 608,951 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ultrapar Participações by 76.4% during the 4th quarter. Millennium Management LLC now owns 1,175,452 shares of the oil and gas company’s stock worth $3,091,000 after acquiring an additional 509,037 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Ultrapar Participações by 194.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 734,949 shares of the oil and gas company’s stock worth $1,933,000 after acquiring an additional 485,299 shares in 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.