Ultrapar Participações (NYSE:UGP) Shares Gap Up – Still a Buy?

Ultrapar Participações S.A. (NYSE:UGP)’s stock 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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HSBC upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Hsbc Global Res upgraded Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $4.10 to $3.20 in a report on Friday, January 31st. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, Scotiabank raised Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. Two equities 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.20.

Ultrapar Participações Price Performance

The company has a fifty day simple moving average of $2.93 and a 200 day simple moving average of $3.15. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 6.87, a P/E/G 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.

Ultrapar Participações Cuts Dividend

The company 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 was Monday, March 10th. Ultrapar Participações’s dividend payout ratio is currently 33.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position 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 purchasing an additional 1,497,300 shares during the period. Marshall Wace LLP raised its stake in shares of Ultrapar Participações by 18.7% in the fourth quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company’s stock worth $7,420,000 after purchasing an additional 444,724 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in Ultrapar Participações by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company’s stock worth $4,764,000 after buying an additional 115,600 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Ultrapar Participações by 6.5% during the 4th quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company’s stock worth $4,671,000 after buying an additional 108,213 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of 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 acquiring an additional 608,951 shares in 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.