Eqis Capital Management Inc. Takes $54,000 Position in Ultrapar Participacoes SA (NYSE:UGP)

Eqis Capital Management Inc. purchased a new stake in shares of Ultrapar Participacoes SA (NYSE:UGP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,997 shares of the oil and gas company’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of UGP. Renaissance Technologies LLC lifted its position in shares of Ultrapar Participacoes by 109.7% during the 2nd quarter. Renaissance Technologies LLC now owns 8,162,100 shares of the oil and gas company’s stock valued at $42,769,000 after buying an additional 4,269,160 shares during the last quarter. BlackRock Inc. lifted its position in shares of Ultrapar Participacoes by 193.2% during the 2nd quarter. BlackRock Inc. now owns 5,381,505 shares of the oil and gas company’s stock valued at $28,200,000 after buying an additional 3,546,030 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Ultrapar Participacoes by 100.0% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,571,120 shares of the oil and gas company’s stock valued at $18,713,000 after buying an additional 1,785,560 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Ultrapar Participacoes by 749.3% during the 2nd quarter. Bank of America Corp DE now owns 1,994,625 shares of the oil and gas company’s stock valued at $10,451,000 after buying an additional 1,759,771 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Ultrapar Participacoes by 287.0% during the 2nd quarter. Morgan Stanley now owns 886,640 shares of the oil and gas company’s stock valued at $4,645,000 after buying an additional 657,505 shares during the last quarter. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:UGP opened at $4.85 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.34 and a current ratio of 2.97. Ultrapar Participacoes SA has a 52-week low of $3.61 and a 52-week high of $7.90. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.62 and a beta of 0.24. The business’s fifty day moving average is $4.73 and its 200 day moving average is $4.88.

UGP has been the topic of a number of recent research reports. Goldman Sachs Group initiated coverage on Ultrapar Participacoes in a research report on Thursday, October 3rd. They set a “neutral” rating and a $4.70 price target on the stock. JPMorgan Chase & Co. decreased their price objective on Ultrapar Participacoes from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. ValuEngine upgraded Ultrapar Participacoes from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded Ultrapar Participacoes from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Finally, Santander lowered Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.23.

Ultrapar Participacoes Profile

Ultrapar Participações SA engages in the gas distribution, fuel distribution, chemicals, storage, and drugstores businesses primarily in Brazil, Mexico, Uruguay, Venezuela, other Latin American countries, the United States, Canada, the Far East, Europe, and internationally. The company's Gas Distribution segment distributes liquefied petroleum gas to residential, commercial, and industrial consumers, as well as independent dealers primarily in the South, Southeast, and Northeast regions of Brazil.

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Institutional Ownership by Quarter for Ultrapar Participacoes (NYSE:UGP)

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