Ultrapar Participações (NYSE:UGP) Trading Down 2.1% – Here’s What Happened

Ultrapar Participações S.A. (NYSE:UGP)’s stock price dropped 2.1% on Monday . The stock traded as low as $3.10 and last traded at $3.11. Approximately 156,289 shares traded hands during trading, a decline of 90% from the average daily volume of 1,529,684 shares. The stock had previously closed at $3.17.

Analyst Ratings Changes

UGP has been the subject of a number of research reports. 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 report on Friday, January 31st. Hsbc Global Res raised Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. Scotiabank raised Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, HSBC upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Three 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $3.20.

Ultrapar Participações Stock Down 1.6 %

The company has a market capitalization of $3.48 billion, a PE ratio of 6.78, a P/E/G ratio of 2.39 and a beta of 1.42. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The firm has a 50 day simple moving average of $2.86 and a two-hundred day simple moving average of $3.20.

Ultrapar Participações Cuts Dividend

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

Hedge Funds Weigh In On Ultrapar Participações

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its position in shares of Ultrapar Participações by 23.0% in the fourth 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. QRG Capital Management Inc. increased its holdings in Ultrapar Participações by 38.1% during the 4th quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 5,687 shares in the last quarter. Sei Investments Co. raised its position in Ultrapar Participações by 27.9% during the fourth quarter. Sei Investments Co. now owns 31,534 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 6,882 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Ultrapar Participações by 49.6% in the fourth quarter. Quadrant Capital Group LLC now owns 27,813 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 9,220 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Ultrapar Participações by 26.0% in the third quarter. Jane Street Group LLC now owns 48,712 shares of the oil and gas company’s stock valued at $189,000 after purchasing an additional 10,037 shares during the last quarter. 3.58% of the stock is owned by institutional investors and hedge funds.

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.