Ultrapar Participacoes SA (NYSE:UGP) Stock Rating Lowered by BidaskClub

Xavier Trudeau
Août 13, 2017

Ultrapar Participacoes S.A. (NYSE:UGP) declared a semiannual dividend on Friday, August 11th, Wall Street Journal reports.

A number of equities research analysts have weighed in on UGP shares. Zacks Investment Research downgraded shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research report on Thursday, April 27th.

Ultrapar Participacoes SA (NYSE:UGP) had a decrease of 1.98% in short interest. The hedge fund run by Mark Broach held 185,000 shares of the technology company at the end of 2016Q4, valued at $2.35M, up from 50,000 at the end of the previous reported quarter. The stock is trading at $21.86 significantly lower than the 50 day moving average of $23.37 and which is marginally under the 200 day moving average of $22.62. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 26.70 and a beta of 1.12. Goldman Sachs initiated Ultrapar Participacoes SA (ADR) (NYSE:UGP) on Thursday, September 24 with "Neutral" rating. PNC Financial Services Group Inc. boosted its stake in shares of Ultrapar Participacoes by 13.2% in the first quarter. PNC Financial Services Group Inc. now owns 6,695 shares of the oil and gas company's stock worth $151,000 after buying an additional 782 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Ultrapar Participacoes by 5.5% in the first quarter. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Ultrapar Participacoes during the first quarter worth $215,000. It also reduced its holding in Wpp Plc New (NASDAQ:WPPGY) by 16,197 shares in the quarter, leaving it with 33,437 shares, and cut its stake in Select Income Reit (NYSE:SIR). Finally, Airain ltd acquired a new position in shares of Ultrapar Participacoes during the first quarter worth $304,000. North Star Invest accumulated 84,875 shares or 1.32% of the stock. Bank of New York Mellon Corp now owns 104,419 shares of the oil and gas company's stock valued at $2,374,000 after buying an additional 1,499 shares during the period. The ex-dividend date is Thursday, August 17th. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and global trademark and copyright law. BNP Paribas Arbitrage SA now owns 32,257 shares of the oil and gas company's stock valued at $733,000 after buying an additional 1,692 shares during the period. This represents a dividend yield of 2.41%. The original version of this piece can be accessed at https://www.com-unik.info/2017/08/13/bank-of-america-corporation-downgrades-ultrapar-participacoes-s-a-ugp-to-underperform.html. Ultrapar Participacoes now has an average rating of "Hold" and an average price target of $24.00.

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