Ultrapar Participacoes S.A. (NYSE:UGP) Sees Large Increase in Short Interest

Ultrapar Participacoes S.A. (NYSE:UGP) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 7,208,171 shares, a growth of 61.2% from the September 15th total of 4,472,882 shares. Based on an average daily trading volume, of 4,120,831 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.7% of the company’s shares are short sold.

Ultrapar Participacoes Stock Up 2.0%

Shares of NYSE UGP traded up $0.15 on Friday, reaching $7.79. 3,525,273 shares of the company’s stock traded hands, compared to its average volume of 4,693,848. The business’s 50 day simple moving average is $7.15 and its two-hundred day simple moving average is $6.17. Ultrapar Participacoes has a 12 month low of $3.60 and a 12 month high of $8.28. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 0.43 and a beta of 0.71. The company has a quick ratio of 1.26, a current ratio of 1.64 and a debt-to-equity ratio of 0.74.

Ultrapar Participacoes (NYSE:UGP) last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $8.18 billion. As a group, equities research analysts forecast that Ultrapar Participacoes will post 0.84 EPS for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Andre Saleme Hachem sold 39,200 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $7.67, for a total value of $300,664.00. Following the completion of the transaction, the chief financial officer directly owned 25,675 shares of the company’s stock, valued at $196,927.25. This represents a 60.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Decio De Sampaio Amaral sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was 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 of the company’s stock, valued at $1,049,423.76. This trade represents a 5.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 77,785 shares of company stock valued at $587,312 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Ultrapar Participacoes

Institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. bought a new position in Ultrapar Participacoes in the 3rd quarter worth about $1,108,000. Western Financial Corp CA bought a new stake in Ultrapar Participacoes during the 3rd quarter valued at about $142,000. Plan A Wealth LLC increased its stake in Ultrapar Participacoes by 24.3% during the 3rd quarter. Plan A Wealth LLC now owns 15,620 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 3,050 shares in the last quarter. Engineers Gate Manager LP raised its holdings in Ultrapar Participacoes by 419.7% in the second quarter. Engineers Gate Manager LP now owns 257,957 shares of the oil and gas company’s stock worth $1,295,000 after buying an additional 208,319 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Ultrapar Participacoes in the second quarter worth about $212,000. 3.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UGP has been the subject of a number of research analyst reports. UBS Group raised their target price on Ultrapar Participacoes from $7.20 to $7.90 and gave the company a “buy” rating in a research note on Friday, September 4th. Bank of America raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating and raised their price objective for the company from $6.80 to $7.40 in a research report on Wednesday, July 8th. Scotiabank cut shares of Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a report on Thursday, September 17th. 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. Finally, Zacks Research raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.54.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian holding company with operations focused on energy, fuel distribution and logistics. Through its businesses, the company supplies fuels, liquefied petroleum gas (LPG) and related services to consumers, commercial customers and industrial clients.

Its principal businesses include Ipiranga, one of Brazil’s major fuel distribution companies, and Ultragaz, which distributes LPG for residential, commercial and industrial use. Ultrapar also owns Ultracargo, a provider of storage and handling services for liquid bulk products, including fuels, chemicals and other industrial materials.

Ultrapar’s operations are concentrated primarily in Brazil, with activities supported by distribution networks, terminals and storage infrastructure across key regions of the country.