Ultrapar (ADR) (UGP)
Distributes fuels and LPG, stores liquid bulk, and operates waterway logistics in Brazil.
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Four operating businesses—Ipiranga, Ultragaz, Ultracargo, and Hidrovias—cover fuel distribution, LPG and other-energy distribution, liquid-bulk storage, and waterway and multimodal logistics. The listed holding company uses its structure for capital allocation across the portfolio.
Four operating businesses anchor the portfolio: Ipiranga distributes fuels and related products, Ultragaz distributes LPG and other energies, Ultracargo provides liquid-bulk storage, and Hidrovias supplies waterway and multimodal logistics infrastructure.
Formed as the listed holding company in a 1999 corporate reorganization, the group uses this structure for capital allocation and an investment portfolio. Its stated operating model emphasizes disciplined capital allocation, agile and robust governance, and operational efficiency.
The portfolio links Brazilian energy and mobility distribution with logistics infrastructure. Control of Hidrovias added waterway logistics to the continuing operating structure; the latest filing reports Ipiranga, Ultragaz, Ultracargo, Hidrovias, and Others as that structure.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Scotiabank | Downgrade | ||
| Sep 4, 2026 | UBS | Reiterate | Rating: —Target: $7.20 | Target: $7.90 |
| Aug 26, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $6.50 | Target: $5.80 |
| Jul 8, 2026 | B of A Securities | Upgrade | ||
| Jul 1, 2026 | Goldman Sachs | Target | Target: $7.30 | Target: $6.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.81B · Total debt $3.83B · Total assets $10.33B · Shareholders' equity $3.52B
- Revenue
- $8.33B
- Operating income
- $637.9M
- Net income
- $310.7M
Reported in BRL, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | ≈ 5.33% | 56.95M ADS | |
|---|---|---|---|
| 179 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.60% | 6.38M ADS | |
| 15 holders · as of Sep 18, 2026 | |||
| Other | ≈ 94.07% | 1.01B ADS | |
| remainder | |||
1.07B ADS as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Bizma Investimentos LtdaInstitution | 0.69% | 7.33M ADS | as of Jun 30, 2026 |
Qube Research & Technologies LtdInstitution | 0.53% | 5.62M ADS | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 0.52% | 5.58M ADS | as of Jun 30, 2026 |
Morgan StanleyInstitution | 0.46% | 4.89M ADS | as of Jun 30, 2026 |
American Century Companies IncInstitution | 0.38% | 4.04M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 10, 2026 | Leonardo Remiao Linden | officer: CEO Ipiranga | −60,000 | $7.57 |
| Sep 10, 2026 | Pedro Guedes Rabelo | officer: Financial Officer Ipiranga | −30,000 | $7.58 |
| Sep 1, 2026 | Decio de Sampaio Amaral | officer: CEO Hidrovias | −8,000 | $6.93 |
| Aug 18, 2026 | Andre Saleme Hachem | officer: CFO and IRO Hidrovias | −585 | $6.51 |
Not reported.