Ultrapar Participacoes (NYSE:UGP) Reaches New 52-Week High – Time to Buy?

Ultrapar Participacoes S.A. (NYSE:UGP)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $4.41 and last traded at $4.3750, with a volume of 476 shares. The stock had previously closed at $4.36.

Analysts Set New Price Targets

UGP has been the subject of a number of research reports. Zacks Research raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Wall Street Zen raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. The Goldman Sachs Group upped their price objective on shares of Ultrapar Participacoes from $4.00 to $4.50 and gave the company a “buy” rating in a report on Friday, September 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ultrapar Participacoes in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Ultrapar Participacoes currently has an average rating of “Buy” and a consensus price target of $4.50.

Ultrapar Participacoes Stock Down 8.4%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.40 and a current ratio of 1.83. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.89 and a beta of 0.89. The business’s 50 day moving average price is $4.02 and its 200 day moving average price is $3.54.

Ultrapar Participacoes Announces Dividend

The company 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 dividend payout ratio is presently 21.28%.

Hedge Funds Weigh In On Ultrapar Participacoes

Several institutional investors and hedge funds have recently modified their holdings of UGP. Inspire Investing LLC raised its holdings in shares of Ultrapar Participacoes by 14.2% during the 3rd quarter. Inspire Investing LLC now owns 21,133 shares of the oil and gas company’s stock worth $87,000 after acquiring an additional 2,632 shares during the period. Plan A Wealth LLC increased its position in 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 last quarter. Blue Trust Inc. raised its stake in Ultrapar Participacoes by 27.6% during the second quarter. Blue Trust Inc. now owns 16,425 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 3,554 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Ultrapar Participacoes by 5.5% in 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 purchasing an additional 3,952 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in 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 purchasing an additional 5,918 shares during the last quarter. Hedge funds and other 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.