Zacks Investment Research Lowers Ultrapar Participações (NYSE:UGP) to Hold

Zacks Investment Research lowered shares of Ultrapar Participações (NYSE:UGPGet Rating) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Ultrapar Participacoes S.A., a major Brazilian industrial group, is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemical. Ultrapar is also engaged in the storage and transportation of liquefied petroleum gas and petrochemical and chemical products. (PRESS RELEASE) “

Several other equities analysts also recently commented on UGP. TheStreet raised shares of Ultrapar Participações from a c rating to a b- rating in a research note on Monday, April 4th. StockNews.com raised shares of Ultrapar Participações from a hold rating to a buy rating in a research note on Friday, April 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $2.92.

NYSE UGP opened at $2.67 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.67 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 0.75 and a beta of 1.12. The firm’s 50 day simple moving average is $2.88 and its 200 day simple moving average is $2.68. Ultrapar Participações has a 1 year low of $2.18 and a 1 year high of $4.34.

Ultrapar Participações (NYSE:UGPGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $6.17 billion for the quarter. Ultrapar Participações had a net margin of 0.71% and a return on equity of 10.89%. On average, equities research analysts forecast that Ultrapar Participações will post 0.18 earnings per share for the current year.

The business also recently declared a Semi-Annual dividend, which was paid on Monday, March 21st. Shareholders of record on Monday, March 7th were issued a $0.03 dividend. This represents a yield of 2.2%. The ex-dividend date of this dividend was Friday, March 4th. Ultrapar Participações’s payout ratio is 46.16%.

A number of large investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC grew its holdings in Ultrapar Participações by 24.7% in the fourth quarter. Parametric Portfolio Associates LLC now owns 1,234,394 shares of the oil and gas company’s stock worth $3,259,000 after purchasing an additional 244,130 shares during the period. Credit Suisse AG grew its holdings in Ultrapar Participações by 10.1% in the fourth quarter. Credit Suisse AG now owns 1,201,998 shares of the oil and gas company’s stock worth $3,173,000 after purchasing an additional 110,000 shares during the period. Morgan Stanley grew its holdings in Ultrapar Participações by 339.8% in the second quarter. Morgan Stanley now owns 1,193,057 shares of the oil and gas company’s stock worth $4,486,000 after purchasing an additional 921,767 shares during the period. Bank of America Corp DE grew its holdings in shares of Ultrapar Participações by 242.1% during the fourth quarter. Bank of America Corp DE now owns 603,566 shares of the oil and gas company’s stock valued at $1,593,000 after buying an additional 427,118 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of Ultrapar Participações by 9.0% during the third quarter. Citadel Advisors LLC now owns 249,652 shares of the oil and gas company’s stock valued at $674,000 after buying an additional 20,611 shares during the last quarter. Institutional investors and hedge funds own 6.75% of the company’s stock.

About Ultrapar Participações (Get Rating)

Ultrapar Participações SA engages in the gas distribution, fuel distribution, chemicals, storage, and drugstores businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. Its Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers primarily in the South, Southeast, and Northeast regions of Brazil.

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