Ultrapar Participacoes S.A. $UGP Holdings Boosted by Ethic Inc.

Ethic Inc. raised its position in shares of Ultrapar Participacoes S.A. (NYSE:UGP) by 42.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,797 shares of the oil and gas company’s stock after purchasing an additional 9,815 shares during the quarter. Ethic Inc.’s holdings in Ultrapar Participacoes were worth $102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of UGP. Sequoia Financial Advisors LLC grew its holdings in shares of Ultrapar Participacoes by 61.3% during the first quarter. Sequoia Financial Advisors LLC now owns 52,395 shares of the oil and gas company’s stock valued at $161,000 after buying an additional 19,918 shares in the last quarter. GAMMA Investing LLC boosted its position in Ultrapar Participacoes by 92.9% during the 1st quarter. GAMMA Investing LLC now owns 17,413 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 8,388 shares during the period. Raiffeisen Bank International AG purchased a new position in Ultrapar Participacoes during the 1st quarter valued at about $831,000. Cerity Partners LLC purchased a new position in Ultrapar Participacoes during the 1st quarter valued at about $236,000. Finally, Wealthstream Advisors Inc. acquired a new position in shares of Ultrapar Participacoes in the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 3.58% of the company’s stock.

Ultrapar Participacoes Trading Up 0.4%

Shares of NYSE:UGP opened at $3.96 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.38 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $4.41 billion, a PE ratio of 8.79, a P/E/G ratio of 2.03 and a beta of 1.13. Ultrapar Participacoes S.A. has a 1 year low of $2.53 and a 1 year high of $4.16. The firm has a fifty day moving average price of $3.84 and a 200 day moving average price of $3.35.

Ultrapar Participacoes Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were issued a dividend of $0.0555 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a dividend yield of 360.0%. Ultrapar Participacoes’s dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ultrapar Participacoes in a report on Wednesday, October 8th. Scotiabank raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Zacks Research raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Finally, The Goldman Sachs Group boosted their target price on Ultrapar Participacoes from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Friday, September 26th. Three equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $4.50.

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.