Ultrapar Participacoes (NYSE:UGP) Shares Gap Down – Here’s What Happened

Ultrapar Participacoes S.A. (NYSE:UGP) shares gapped down before the market opened on Monday. The stock had previously closed at $7.74, but opened at $6.24. Ultrapar Participacoes shares last traded at $6.3640, with a volume of 2,601,007 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UGP. Scotiabank lowered shares of Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a research note on Thursday, September 17th. The Goldman Sachs Group reduced their target price on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a report on Wednesday, August 26th. Zacks Research raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. downgraded shares of Ultrapar Participacoes from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 22nd. Finally, Bank of America raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $6.80 to $7.40 in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.54.

Ultrapar Participacoes Price Performance

The business’s 50 day moving average is $7.31 and its 200-day moving average is $5.88. The company has a market cap of $7.13 billion, a PE ratio of 10.48 and a beta of 0.71.

Ultrapar Participacoes (NYSE:UGP) last posted its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $8.18 billion. As a group, sell-side analysts predict that Ultrapar Participacoes S.A. will post 0.87 EPS for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, September 14th. Stockholders of record on Wednesday, August 26th were given a dividend of $0.1932 per share. This represents a dividend yield of 599.0%. The ex-dividend date of this dividend was Wednesday, August 26th. Ultrapar Participacoes’s dividend payout ratio is currently 50.82%.

Insider Activity

In other Ultrapar Participacoes news, insider Pedro Guedes Rabelo sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $7.58, for a total transaction of $227,400.00. Following the sale, the insider owned 57,898 shares of the company’s stock, valued at approximately $438,866.84. This trade represents a 34.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andre Saleme Hachem sold 39,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $7.67, for a total transaction of $300,664.00. Following the sale, the chief financial officer directly owned 25,675 shares in the company, valued at approximately $196,927.25. The trade was a 60.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 77,785 shares of company stock worth $587,312. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UGP. EverSource Wealth Advisors LLC raised its stake in Ultrapar Participacoes by 45.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,982 shares in the last quarter. R Squared Ltd acquired a new position in Ultrapar Participacoes during the 1st quarter worth approximately $55,000. Allspring Global Investments Holdings LLC acquired a new position in Ultrapar Participacoes during the first quarter worth $62,000. Park Avenue Securities LLC purchased a new position in shares of Ultrapar Participacoes in the 3rd quarter valued at about $81,000. Finally, Royal Bank of Canada increased its holdings in Ultrapar Participacoes by 165.5% in the first quarter. Royal Bank of Canada now owns 12,390 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 7,724 shares in the last quarter. Institutional investors and hedge funds own 3.58% of the company’s stock.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian holding company whose businesses focus on fuel distribution, liquefied petroleum gas and transportation infrastructure. Through its subsidiaries, the company serves commercial, industrial, retail and residential customers, primarily in Brazil.

Ipiranga is Ultrapar’s fuel-distribution business, supplying gasoline, ethanol, diesel and other fuels through a network of service stations and commercial channels. Ultragaz distributes liquefied petroleum gas for household, commercial and industrial use, including bottled and bulk products.

Ultrapar also operates Ultracargo, a provider of liquid bulk storage and transportation infrastructure for fuels, chemicals and other products.