Ultrapar Participações (NYSE:UGP) Rating Increased to Overweight at JPMorgan Chase & Co.

Ultrapar Participações (NYSE:UGP) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

Several other research firms also recently commented on UGP. Scotiabank upgraded Ultrapar Participações to a “hold” rating in a report on Friday, December 27th. StockNews.com lowered Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.20.

Ultrapar Participações Stock Performance

Shares of NYSE:UGP opened at $2.57 on Tuesday. The firm’s 50 day simple moving average is $3.08 and its 200-day simple moving average is $3.69. 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 has a one year low of $2.53 and a one year high of $6.34. The firm has a market cap of $2.87 billion, a PE ratio of 5.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.52.

Institutional Trading of Ultrapar Participações

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of Ultrapar Participações by 71.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 67,914 shares of the oil and gas company’s stock worth $264,000 after purchasing an additional 28,379 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Ultrapar Participações in the third quarter worth about $1,595,000. Creative Planning lifted its position 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 buying an additional 17,430 shares during the last quarter. Walleye Capital LLC boosted its holdings in shares of Ultrapar Participações by 41.5% in the 3rd quarter. Walleye Capital LLC now owns 36,299 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 10,654 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Ultrapar Participações by 332.6% in the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after buying an additional 1,099,433 shares during the last quarter. Institutional investors own 3.58% of the company’s stock.

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.