Ultrapar Participações S.A. (NYSE:UGP – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $2.75, but opened at $2.68. Ultrapar Participações shares last traded at $2.65, with a volume of 131,604 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.20.
Check Out Our Latest Stock Report on UGP
Ultrapar Participações Trading Down 4.4 %
Institutional Investors Weigh In On Ultrapar Participações
A number of hedge funds and other institutional investors have recently made changes to their positions in UGP. Sequoia Financial Advisors LLC acquired a new stake in Ultrapar Participações in the 3rd quarter worth about $46,000. Freedom Investment Management Inc. purchased a new stake in Ultrapar Participações in the third quarter valued at approximately $48,000. Cutter & CO Brokerage Inc. acquired a new position in Ultrapar Participações during the second quarter worth approximately $57,000. D Orazio & Associates Inc. raised its stake in Ultrapar Participações by 30.3% during the second quarter. D Orazio & Associates Inc. now owns 15,046 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 3,498 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Ultrapar Participações by 567.5% in the 2nd quarter. Blue Trust Inc. now owns 15,833 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 13,461 shares during the last quarter. Hedge funds and other institutional investors own 3.58% of the company’s stock.
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.
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