Ultrapar Participacoes (NYSE:UGP) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

Ultrapar Participacoes S.A. (NYSE:UGP)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $5.91 and traded as low as $5.78. Ultrapar Participacoes shares last traded at $5.80, with a volume of 3,776,191 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on UGP shares. UBS Group increased their price target on Ultrapar Participacoes from $7.20 to $7.90 and gave the company a “buy” rating in a research note on Friday, September 4th. The Goldman Sachs Group dropped their target price on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a report on Wednesday, August 26th. Scotiabank downgraded Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a research note on Thursday, September 17th. Zacks Research upgraded Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Finally, Bank of America raised shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and upped their price target for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.54.

Ultrapar Participacoes Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.26. The firm has a market cap of $6.47 billion, a P/E ratio of 9.51, a PEG ratio of 0.31 and a beta of 0.71. The stock’s 50-day simple moving average is $7.28 and its two-hundred day simple moving average is $5.91.

Ultrapar Participacoes (NYSE:UGP) last posted its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.18 billion. Equities research analysts forecast that Ultrapar Participacoes S.A. will post 0.87 earnings per share for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, September 14th. Investors of record on Wednesday, August 26th were issued a $0.1932 dividend. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a dividend yield of 599.0%. Ultrapar Participacoes’s dividend payout ratio is currently 50.82%.

Insider Activity

In related news, CEO Decio De Sampaio Amaral sold 8,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the completion of the sale, the chief executive officer owned 151,432 shares in the company, valued at $1,049,423.76. This represents a 5.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pedro Guedes Rabelo sold 30,000 shares of Ultrapar Participacoes stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $7.58, for a total value of $227,400.00. Following the completion of the sale, the insider owned 57,898 shares in the company, valued at approximately $438,866.84. This trade represents a 34.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 77,785 shares of company stock valued at $587,312. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ultrapar Participacoes

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in shares of Ultrapar Participacoes by 10.6% during the first quarter. Renaissance Technologies LLC now owns 3,740,700 shares of the oil and gas company’s stock worth $20,611,000 after purchasing an additional 357,922 shares during the period. Allianz Asset Management GmbH bought a new position in Ultrapar Participacoes in the second quarter worth about $6,704,000. Dimensional Fund Advisors LP lifted its holdings in Ultrapar Participacoes by 42.7% in the first quarter. Dimensional Fund Advisors LP now owns 945,625 shares of the oil and gas company’s stock worth $5,210,000 after acquiring an additional 282,887 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Ultrapar Participacoes by 235.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 927,216 shares of the oil and gas company’s stock valued at $5,109,000 after acquiring an additional 650,988 shares during the period. Finally, Kapitalo Investimentos Ltda raised its position in shares of Ultrapar Participacoes by 4.6% during the 1st quarter. Kapitalo Investimentos Ltda now owns 915,468 shares of the oil and gas company’s stock worth $5,044,000 after purchasing an additional 40,586 shares during the period. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian holding company whose businesses focus on fuel distribution, liquefied petroleum gas and transportation infrastructure. Through its subsidiaries, the company serves commercial, industrial, retail and residential customers, primarily in Brazil.

Ipiranga is Ultrapar’s fuel-distribution business, supplying gasoline, ethanol, diesel and other fuels through a network of service stations and commercial channels. Ultragaz distributes liquefied petroleum gas for household, commercial and industrial use, including bottled and bulk products.

Ultrapar also operates Ultracargo, a provider of liquid bulk storage and transportation infrastructure for fuels, chemicals and other products.