Ultrapar Participacoes (NYSE:UGP) Reaches New 1-Year High – Here’s What Happened

Ultrapar Participacoes S.A. (NYSE:UGP)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $6.88 and last traded at $6.9450, with a volume of 155467 shares. The stock had previously closed at $6.66.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UGP. UBS Group upped their price target on shares of Ultrapar Participacoes from $7.00 to $7.20 and gave the company a “buy” rating in a report on Wednesday, June 17th. The Goldman Sachs Group lowered their price objective on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Finally, Bank of America upgraded shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their target price for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.40.

Ultrapar Participacoes Stock Up 4.7%

The business has a 50-day moving average price of $6.03 and a 200-day moving average price of $5.61. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.39 and a beta of 0.70. The company has a quick ratio of 1.26, a current ratio of 1.64 and a debt-to-equity ratio of 0.74.

Ultrapar Participacoes (NYSE:UGP) last announced its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%.The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $8.18 billion. As a group, equities analysts anticipate that Ultrapar Participacoes S.A. will post 0.78 earnings per share for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, September 14th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.1932 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a yield of 599.0%. Ultrapar Participacoes’s dividend payout ratio is currently 50.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UGP. EverSource Wealth Advisors LLC increased its position in shares of Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,982 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ultrapar Participacoes in the 4th quarter valued at approximately $32,000. R Squared Ltd acquired a new position in Ultrapar Participacoes in the 1st quarter worth approximately $55,000. Allspring Global Investments Holdings LLC acquired a new position in Ultrapar Participacoes in the 1st quarter worth approximately $62,000. Finally, GeoWealth Management LLC acquired a new position in Ultrapar Participacoes in the 4th quarter worth approximately $44,000. 3.58% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.