Ultrapar Participações (NYSE:UGP) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Ultrapar Participações (NYSE:UGP) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat.com reports.

Other research analysts also recently issued research reports about the company. Scotiabank raised Ultrapar Participações to a “hold” rating in a research note on Friday, December 27th. StockNews.com downgraded Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.20.

Ultrapar Participações Stock Down 0.7 %

Shares of NYSE UGP opened at $2.72 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 2.21 and a beta of 1.52. Ultrapar Participações has a 12 month low of $2.53 and a 12 month high of $6.34. The stock has a 50-day moving average price of $3.06 and a two-hundred day moving average price of $3.68.

Institutional Trading of Ultrapar Participações

Several institutional investors have recently added to or reduced their stakes in UGP. JPMorgan Chase & Co. boosted its holdings in shares of Ultrapar Participações by 194.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 159,142 shares of the oil and gas company’s stock worth $617,000 after buying an additional 105,133 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Ultrapar Participações in the 3rd quarter worth $452,000. Jane Street Group LLC lifted its holdings in shares of Ultrapar Participações by 26.0% in the 3rd quarter. Jane Street Group LLC now owns 48,712 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 10,037 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Ultrapar Participações in the 3rd quarter worth $1,595,000. Finally, Walleye Capital LLC lifted its holdings in shares of Ultrapar Participações by 41.5% in the 3rd quarter. Walleye Capital LLC now owns 36,299 shares of the oil and gas company’s stock worth $141,000 after purchasing an additional 10,654 shares in the last quarter. 3.58% of the stock is currently owned by institutional investors.

About Ultrapar Participações

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.