Ultrapar Participacoes (NYSE:UGP) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Ultrapar Participacoes (NYSE:UGP) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.18, FiscalAI reports. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%.

Ultrapar Participacoes Stock Performance

Ultrapar Participacoes stock traded up $0.04 during midday trading on Wednesday, hitting $5.43. The stock had a trading volume of 4,225,256 shares, compared to its average volume of 3,329,157. The firm’s fifty day moving average is $7.14 and its two-hundred day moving average is $5.95. The company has a market capitalization of $6.06 billion, a PE ratio of 8.91, a P/E/G ratio of 0.29 and a beta of 0.85. Ultrapar Participacoes has a 52-week low of $3.60 and a 52-week high of $8.28. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74.

Ultrapar Participacoes Dividend Announcement

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

Insiders Place Their Bets

In other Ultrapar Participacoes news, CEO Decio De Sampaio Amaral sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total value of $55,440.00. Following the completion of the transaction, the chief executive officer directly owned 151,432 shares in the company, valued at $1,049,423.76. This represents a 5.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andre Saleme Hachem sold 39,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $7.67, for a total transaction of $300,664.00. Following the completion of the transaction, the chief financial officer owned 25,675 shares of the company’s stock, valued at approximately $196,927.25. The trade was a 60.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 77,785 shares of company stock worth $587,312. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on UGP. Scotiabank lowered Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a report on Thursday, September 17th. Zacks Research raised Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. The Goldman Sachs Group dropped their price objective on Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a research report on Wednesday, August 26th. UBS Group lifted their price objective on Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a “buy” rating in a report on Friday, September 4th. Finally, Weiss Ratings cut shares of Ultrapar Participacoes from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Ultrapar Participacoes presently has an average rating of “Moderate Buy” and a consensus price target of $6.54.

About Ultrapar Participacoes

Ultrapar Participações S.A. is a Brazilian holding company with businesses focused on fuel distribution, liquefied petroleum gas (LPG) and bulk liquid storage. Its operations serve customers across Brazil, including consumers, businesses and industrial clients. The company’s main businesses include Ipiranga, which distributes and markets fuels and related products, and Ultragaz, a supplier of LPG for residential, commercial and industrial use. Through Ultracargo, Ultrapar also provides storage and handling services for bulk liquids, including fuels and chemicals.