BidaskClub upgraded shares of Ultrapar Participacoes SA (NYSE:UGP) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other research analysts have also issued reports on the company. HSBC Holdings plc lowered Ultrapar Participacoes SA from a buy rating to a hold rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered Ultrapar Participacoes SA from a hold rating to a sell rating in a research report on Thursday, July 13th. Finally, Bank of America Corporation lowered Ultrapar Participacoes SA from a neutral rating to an underperform rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $24.00.

Shares of Ultrapar Participacoes SA (UGP) traded down 0.86% during mid-day trading on Friday, reaching $23.08. 387,473 shares of the company’s stock traded hands. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 27.87 and a beta of 1.12. Ultrapar Participacoes SA has a one year low of $18.38 and a one year high of $24.79. The firm’s 50-day moving average is $23.18 and its 200 day moving average is $22.74.

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The business also recently disclosed a semiannual dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be given a dividend of $0.2694 per share. The ex-dividend date is Thursday, August 17th. This represents a yield of 2.41%. Ultrapar Participacoes SA’s dividend payout ratio is currently 67.50%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UGP. Genesis Asset Managers LLP raised its position in Ultrapar Participacoes SA by 228.4% in the second quarter. Genesis Asset Managers LLP now owns 3,070,132 shares of the oil and gas company’s stock worth $72,240,000 after buying an additional 2,135,204 shares in the last quarter. Ruffer LLP raised its position in Ultrapar Participacoes SA by 193.3% in the first quarter. Ruffer LLP now owns 1,447,471 shares of the oil and gas company’s stock worth $33,249,000 after buying an additional 954,016 shares in the last quarter. Bank of America Corp DE raised its position in Ultrapar Participacoes SA by 934.1% in the first quarter. Bank of America Corp DE now owns 1,017,169 shares of the oil and gas company’s stock worth $23,120,000 after buying an additional 918,809 shares in the last quarter. Morgan Stanley raised its position in Ultrapar Participacoes SA by 440.2% in the first quarter. Morgan Stanley now owns 529,081 shares of the oil and gas company’s stock worth $12,026,000 after buying an additional 431,140 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in Ultrapar Participacoes SA by 5.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 4,278,967 shares of the oil and gas company’s stock worth $100,685,000 after buying an additional 226,350 shares in the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

About Ultrapar Participacoes SA

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