Ultrapar Participações (NYSE:UGP) Rating Increased to Buy at HSBC

Ultrapar Participações (NYSE:UGP) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Finviz reports.

Other analysts have also recently issued research reports about the stock. Scotiabank upgraded shares of Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. JPMorgan Chase & Co. raised Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. StockNews.com downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group decreased their target price on Ultrapar Participações from $4.80 to $4.10 and set a “neutral” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.10.

Ultrapar Participações Trading Down 3.1 %

NYSE:UGP opened at $2.69 on Friday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.17 and a beta of 1.52. Ultrapar Participações has a 1 year low of $2.53 and a 1 year high of $6.34. The stock has a fifty day moving average price of $2.92 and a two-hundred day moving average price of $3.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UGP. Renaissance Technologies LLC grew its holdings in Ultrapar Participações by 57.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after buying an additional 898,600 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Ultrapar Participações by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company’s stock valued at $4,764,000 after acquiring an additional 115,600 shares during the last quarter. Marshall Wace LLP increased its position in Ultrapar Participações by 332.6% during the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after purchasing an additional 1,099,433 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Ultrapar Participações during the 3rd quarter worth about $1,595,000. Finally, Dimensional Fund Advisors LP raised its stake in Ultrapar Participações by 16.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 303,436 shares of the oil and gas company’s stock valued at $1,187,000 after purchasing an additional 43,258 shares during the last quarter. 3.58% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participações

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.