Ultrapar Participacoes (NYSE:UGP) Price Target Raised to $7.90

Ultrapar Participacoes (NYSE:UGP) had its price objective raised by UBS Group from $7.20 to $7.90 in a research report report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. The Goldman Sachs Group reduced their price target on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. Wall Street Zen raised shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Bank of America raised shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.54.

Ultrapar Participacoes Price Performance

Shares of UGP stock opened at $7.29 on Friday. The stock’s fifty day simple moving average is $6.20 and its 200 day simple moving average is $5.67. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.26. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.42 and a beta of 0.73. Ultrapar Participacoes has a one year low of $3.60 and a one year high of $7.36.

Ultrapar Participacoes (NYSE:UGP) last released its quarterly earnings data on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $8.18 billion. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%. On average, analysts expect that Ultrapar Participacoes will post 0.8 earnings per share for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

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

Insider Buying and Selling at Ultrapar Participacoes

In related news, CEO Decio De Sampaio Amaral sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the transaction, the chief executive officer owned 151,432 shares in the company, valued at $1,049,423.76. This represents a 5.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 1,982 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ultrapar Participacoes in the fourth quarter valued at approximately $32,000. R Squared Ltd bought a new position in Ultrapar Participacoes in the 1st quarter worth approximately $55,000. Allspring Global Investments Holdings LLC bought a new position in Ultrapar Participacoes in the 1st quarter worth approximately $62,000. Finally, GeoWealth Management LLC bought a new position in Ultrapar Participacoes in the 4th quarter worth approximately $44,000. 3.58% of the stock is owned by institutional investors.

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.