Hennessy Advisors Inc. Lowers Stock Holdings in Ultrapar Participações S.A. (NYSE:UGP)

Hennessy Advisors Inc. decreased its position in shares of Ultrapar Participações S.A. (NYSE:UGP) by 10.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,625,700 shares of the oil and gas company’s stock after selling 185,700 shares during the period. Hennessy Advisors Inc. owned approximately 0.15% of Ultrapar Participações worth $5,007,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in Ultrapar Participações during the fourth quarter valued at about $29,000. Franklin Resources Inc. purchased a new stake in Ultrapar Participações during the fourth quarter valued at about $31,000. Wolverine Trading LLC purchased a new position in shares of Ultrapar Participações in the fourth quarter worth about $35,000. GAMMA Investing LLC increased its holdings in shares of Ultrapar Participações by 92.9% in the first quarter. GAMMA Investing LLC now owns 17,413 shares of the oil and gas company’s stock worth $54,000 after buying an additional 8,388 shares during the period. Finally, Signaturefd LLC increased its holdings 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 worth $52,000 after buying an additional 3,688 shares during the period. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Ultrapar Participações Stock Down 0.6%

UGP opened at $3.13 on Friday. The company has a market cap of $3.49 billion, a P/E ratio of 6.80, a P/E/G ratio of 2.39 and a beta of 1.03. The business’s 50-day moving average price is $3.00 and its 200-day moving average price is $2.91. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. Ultrapar Participações S.A. has a 12 month low of $2.53 and a 12 month high of $4.51.

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.