Short Interest in Ultrapar Participações S.A. (NYSE:UGP) Declines By 41.0%

Ultrapar Participações S.A. (NYSE:UGP) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 2,950,000 shares, a decrease of 41.0% from the February 13th total of 5,000,000 shares. Based on an average daily trading volume, of 1,620,000 shares, the short-interest ratio is currently 1.8 days. Currently, 0.3% of the shares of the stock are sold short.

Ultrapar Participações Stock Performance

Shares of NYSE UGP opened at $3.05 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11. Ultrapar Participações has a one year low of $2.53 and a one year high of $5.85. The business’s 50-day moving average price is $2.81 and its two-hundred day moving average price is $3.24. The company has a market capitalization of $3.40 billion, a P/E ratio of 6.62, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42.

Ultrapar Participações Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.0774 dividend. The ex-dividend date is Monday, March 10th. This represents a dividend yield of 3.8%. Ultrapar Participações’s payout ratio is 33.33%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $4.10 to $3.20 in a research report on Friday, January 31st. Scotiabank upgraded shares of Ultrapar Participações to a “hold” rating in a research report on Friday, December 27th. HSBC upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.20.

Hedge Funds Weigh In On Ultrapar Participações

A number of hedge funds have recently added to or reduced their stakes in UGP. Renaissance Technologies LLC boosted its stake in shares of Ultrapar Participações by 74.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company’s stock worth $9,241,000 after acquiring an additional 1,497,300 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ultrapar Participações by 763.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company’s stock worth $3,616,000 after purchasing an additional 1,215,605 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Ultrapar Participações by 58.2% in the 4th quarter. Two Sigma Investments LP now owns 1,654,373 shares of the oil and gas company’s stock worth $4,351,000 after purchasing an additional 608,951 shares during the last quarter. Millennium Management LLC boosted its position in Ultrapar Participações by 76.4% during the fourth quarter. Millennium Management LLC now owns 1,175,452 shares of the oil and gas company’s stock worth $3,091,000 after purchasing an additional 509,037 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Ultrapar Participações by 194.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 734,949 shares of the oil and gas company’s stock valued at $1,933,000 after purchasing an additional 485,299 shares during the last quarter. Institutional investors and hedge funds own 3.58% of the company’s stock.

Ultrapar Participações Company Profile

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.