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

Ultrapar Participações S.A. (NYSE:UGP) has received a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.20.

Separately, Wall Street Zen downgraded shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Saturday, May 17th.

Ultrapar Participações Stock Up 0.7%

Ultrapar Participações stock opened at $2.94 on Monday. The company’s 50 day simple moving average is $2.99 and its 200 day simple moving average is $2.91. Ultrapar Participações has a fifty-two week low of $2.53 and a fifty-two week high of $4.51. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 2.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.

Hedge Funds Weigh In On Ultrapar Participações

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its stake in shares of Ultrapar Participações by 200.9% in the fourth quarter. Jane Street Group LLC now owns 146,591 shares of the oil and gas company’s stock valued at $386,000 after acquiring an additional 97,879 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Ultrapar Participações by 38.1% in the fourth quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 5,687 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Ultrapar Participações by 33.5% in the fourth quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company’s stock valued at $2,594,000 after acquiring an additional 247,755 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Ultrapar Participações by 763.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company’s stock worth $3,616,000 after buying an additional 1,215,605 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Ultrapar Participações by 76.4% during the fourth quarter. Millennium Management LLC now owns 1,175,452 shares of the oil and gas company’s stock worth $3,091,000 after buying an additional 509,037 shares in the last quarter. 3.58% of the stock is currently owned by institutional investors and hedge funds.

Ultrapar Participações Company Profile

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.