Ultrapar Participacoes (NYSE:UGP) Shares Gap Up – Time to Buy?

Ultrapar Participacoes S.A. (NYSE:UGP)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.89, but opened at $4.03. Ultrapar Participacoes shares last traded at $4.0450, with a volume of 216,695 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on UGP. Zacks Research raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research report on Monday. The Goldman Sachs Group lifted their target price on Ultrapar Participacoes from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, Wall Street Zen raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $4.50.

Ultrapar Participacoes Stock Performance

The firm has a market capitalization of $4.51 billion, a P/E ratio of 8.59, a P/E/G ratio of 1.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.83 and a quick ratio of 1.40. The firm has a 50-day moving average price of $4.01 and a two-hundred day moving average price of $3.56.

Ultrapar Participacoes Dividend Announcement

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

Hedge Funds Weigh In On Ultrapar Participacoes

Large investors have recently bought and sold shares of the business. Inspire Investing LLC increased its holdings in shares of Ultrapar Participacoes by 14.2% in the 3rd quarter. Inspire Investing LLC now owns 21,133 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 2,632 shares during the period. Plan A Wealth LLC lifted its holdings in shares of Ultrapar Participacoes by 32.4% during the third quarter. Plan A Wealth LLC now owns 14,056 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 3,438 shares during the period. Blue Trust Inc. boosted its position in Ultrapar Participacoes by 27.6% in the second quarter. Blue Trust Inc. now owns 16,425 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 3,554 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Ultrapar Participacoes by 5.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 75,215 shares of the oil and gas company’s stock valued at $308,000 after acquiring an additional 3,952 shares during the period. Finally, Vident Advisory LLC boosted its holdings in shares of Ultrapar Participacoes by 2.2% in the 3rd quarter. Vident Advisory LLC now owns 274,900 shares of the oil and gas company’s stock valued at $1,127,000 after acquiring an additional 5,918 shares during the last quarter. Institutional investors own 3.58% of the company’s stock.

About Ultrapar Participacoes

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.