Ultrapar Participacoes S.A. (NYSE:UGP – Get Free Report)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $6.88 and last traded at $6.9450, with a volume of 155467 shares changing hands. The stock had previously closed at $6.66.
Analysts Set New Price Targets
Several research firms recently commented on UGP. The Goldman Sachs Group reduced their price objective on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating for the company in a research note on Wednesday, August 26th. UBS Group lifted their price target on shares of Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Wall Street Zen raised Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Bank of America upgraded Ultrapar Participacoes from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.80 to $7.40 in a report on Wednesday, July 8th. Finally, Weiss Ratings raised Ultrapar Participacoes from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.40.
Read Our Latest Stock Report on Ultrapar Participacoes
Ultrapar Participacoes Stock Up 3.7%
Ultrapar Participacoes (NYSE:UGP – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. The business had revenue of $8 billion for the quarter, compared to analyst estimates of $8.18 billion. Sell-side analysts anticipate that Ultrapar Participacoes S.A. will post 0.78 earnings per share for the current year.
Ultrapar Participacoes Announces Dividend
The company also recently disclosed a dividend, which will be paid on Monday, September 14th. Stockholders of record on Wednesday, August 26th will be issued a $0.1932 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a dividend yield of 599.0%. Ultrapar Participacoes’s dividend payout ratio is currently 49.18%.
Institutional Investors Weigh In On Ultrapar Participacoes
A number of large investors have recently bought and sold shares of the company. Deutsche Bank AG raised its position in Ultrapar Participacoes by 42,357.3% during the 4th quarter. Deutsche Bank AG now owns 2,147,914 shares of the oil and gas company’s stock worth $8,098,000 after buying an additional 2,142,855 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Ultrapar Participacoes by 306.4% in the 3rd quarter. Millennium Management LLC now owns 2,796,662 shares of the oil and gas company’s stock valued at $11,466,000 after acquiring an additional 2,108,543 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Ultrapar Participacoes by 98.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,214,612 shares of the oil and gas company’s stock valued at $15,889,000 after acquiring an additional 2,087,852 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Ultrapar Participacoes in the fourth quarter worth $6,876,000. Finally, UBS Group AG increased its stake in shares of Ultrapar Participacoes by 131.9% in the third quarter. UBS Group AG now owns 2,890,033 shares of the oil and gas company’s stock worth $11,849,000 after acquiring an additional 1,643,562 shares during the period. Hedge funds and other institutional investors own 3.58% of the company’s stock.
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.
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