Ultrapar Participacoes S.A. (NYSE:UGP) Given Consensus Recommendation of “Buy” by Brokerages

Ultrapar Participacoes S.A. (NYSE:UGP) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $4.50.

Several brokerages have commented on UGP. Zacks Research raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ultrapar Participacoes in a research report on Monday. Finally, The Goldman Sachs Group boosted their price target on shares of Ultrapar Participacoes from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Friday, September 26th.

Ultrapar Participacoes Price Performance

NYSE:UGP opened at $3.73 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.83 and a debt-to-equity ratio of 0.83. Ultrapar Participacoes has a 52 week low of $2.53 and a 52 week high of $4.40. The stock’s 50-day moving average price is $3.98 and its 200-day moving average price is $3.62. The stock has a market capitalization of $4.16 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89.

Ultrapar Participacoes Announces Dividend

The business also recently announced a special dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be paid a dividend of $0.1876 per share. The ex-dividend date of this dividend is Friday, December 12th. Ultrapar Participacoes’s payout ratio is currently 59.57%.

Institutional Investors Weigh In On Ultrapar Participacoes

Several institutional investors have recently bought and sold shares of the company. Regatta Capital Group LLC purchased a new position in shares of Ultrapar Participacoes in the second quarter valued at approximately $41,000. Quadrature Capital Ltd purchased a new position in Ultrapar Participacoes in the 2nd quarter valued at $45,000. Wealthstream Advisors Inc. purchased a new position in Ultrapar Participacoes in the 2nd quarter valued at $46,000. Plan A Wealth LLC lifted its holdings in Ultrapar Participacoes by 32.4% in the 3rd quarter. Plan A Wealth LLC now owns 14,056 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 3,438 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in Ultrapar Participacoes during the 3rd quarter worth $64,000. 3.58% of the stock is currently owned by institutional investors and hedge funds.

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.