Morgan Stanley Begins Coverage on Ultrapar Participações (NYSE:UGP)

Equities researchers at Morgan Stanley started coverage on shares of Ultrapar Participações (NYSE:UGP) in a research report issued on Thursday, The Fly reports. The brokerage set an “equal weight” rating on the oil and gas company’s stock.

Separately, Zacks Investment Research cut shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research note on Wednesday, August 11th.

Shares of Ultrapar Participações stock opened at $2.75 on Thursday. The company has a fifty day simple moving average of $2.85 and a 200-day simple moving average of $3.46. Ultrapar Participações has a 12-month low of $2.53 and a 12-month high of $4.74. The company has a current ratio of 1.76, a quick ratio of 1.27 and a debt-to-equity ratio of 1.45. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 0.66 and a beta of 1.33.

Ultrapar Participações (NYSE:UGP) last issued its quarterly earnings results on Wednesday, August 11th. The oil and gas company reported $0.04 earnings per share for the quarter. The firm had revenue of $5.38 billion during the quarter. Ultrapar Participações had a net margin of 0.82% and a return on equity of 11.06%. On average, analysts forecast that Ultrapar Participações will post 0.16 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Ultrapar Participações in the 1st quarter valued at about $42,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ultrapar Participações in the 2nd quarter valued at about $67,000. Royal Bank of Canada increased its holdings in shares of Ultrapar Participações by 157.3% in the 1st quarter. Royal Bank of Canada now owns 20,657 shares of the oil and gas company’s stock valued at $79,000 after purchasing an additional 12,629 shares in the last quarter. Corient Capital Partners LLC increased its holdings in Ultrapar Participações by 40.0% during the 2nd quarter. Corient Capital Partners LLC now owns 26,874 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 7,680 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Ultrapar Participações during the 2nd quarter valued at about $102,000. Institutional investors own 2.07% of the company’s stock.

Ultrapar Participações Company Profile

Ultrapar Participaçoes SA engages in the distribution and retail services including, fuel; liquefied petroleum gas (LPG); retail pharmacy; specialty chemicals, and liquid bulk storage businesses. It operates through the following segments: Ultragaz, Ipiranga, Oxiteno, Ultracargo, Extrafarma, and Others.

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