Ultrapar Participações S.A. (NYSE:UGP) Sees Significant Decline in Short Interest

by · The Markets Daily

Ultrapar Participações S.A. (NYSE:UGP – Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 816,100 shares, a decrease of 18.1% from the September 30th total of 996,600 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 0.7 days.

Ultrapar Participações Trading Down 2.2 %

UGP stock opened at $3.54 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.55 and a debt-to-equity ratio of 0.77. Ultrapar Participações has a 52-week low of $3.51 and a 52-week high of $6.34. The company’s 50-day simple moving average is $3.97 and its 200-day simple moving average is $4.29. The firm has a market cap of $3.95 billion, a P/E ratio of 6.81, a PEG ratio of 2.53 and a beta of 1.60.

Ultrapar Participações (NYSE:UGP – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $6.21 billion for the quarter. Ultrapar Participações had a return on equity of 20.24% and a net margin of 2.21%. As a group, equities analysts forecast that Ultrapar Participações will post 0.34 EPS for the current fiscal year.

Ultrapar Participações Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.0446 dividend. This represents a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 19th. Ultrapar Participações’s payout ratio is presently 15.38%.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UGP. BNP Paribas Financial Markets lifted its stake in Ultrapar Participações by 36.1% in the 1st quarter. BNP Paribas Financial Markets now owns 17,923 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 4,757 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Ultrapar Participações in the first quarter valued at approximately $328,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Ultrapar Participações in the first quarter worth approximately $80,000. Quantbot Technologies LP increased its position in shares of Ultrapar Participações by 13.2% during the first quarter. Quantbot Technologies LP now owns 89,534 shares of the oil and gas company’s stock worth $512,000 after purchasing an additional 10,445 shares in the last quarter. Finally, Capital Wealth Planning LLC raised its stake in Ultrapar Participações by 62.7% in the 1st quarter. Capital Wealth Planning LLC now owns 167,304 shares of the oil and gas company’s stock valued at $957,000 after purchasing an additional 64,496 shares during the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Hsbc Global Res raised shares of Ultrapar Participações from a “strong sell” rating to a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group decreased their price objective on Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. StockNews.com raised Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, HSBC raised Ultrapar Participações from a “reduce” rating to a “hold” rating in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Ultrapar Participações presently has an average rating of “Hold” and a consensus target price of $5.20.

View Our Latest Stock Analysis on UGP

About Ultrapar Participações

(Get Free Report)

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.

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