Millennium Management LLC Increases Stock Holdings in Ultrapar Participações S.A. (NYSE:UGP)

Millennium Management LLC grew its holdings in Ultrapar Participações S.A. (NYSE:UGP - Free Report) by 76.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,175,452 shares of the oil and gas company's stock after acquiring an additional 509,037 shares during the period. Millennium Management LLC owned about 0.11% of Ultrapar Participações worth $3,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of UGP. Renaissance Technologies LLC boosted its holdings in Ultrapar Participações by 74.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company's stock valued at $9,241,000 after purchasing an additional 1,497,300 shares during the period. Marshall Wace LLP boosted its stake in shares of Ultrapar Participações by 18.7% in the 4th quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company's stock valued at $7,420,000 after buying an additional 444,724 shares during the period. American Century Companies Inc. grew its position in shares of Ultrapar Participações by 6.5% during the fourth quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company's stock worth $4,671,000 after buying an additional 108,213 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Ultrapar Participações by 763.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock worth $3,616,000 after buying an additional 1,215,605 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Ultrapar Participações by 33.5% during the fourth quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company's stock worth $2,594,000 after buying an additional 247,755 shares during the period. Hedge funds and other institutional investors own 3.58% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $3.20.

Ultrapar Participações Stock Down 1.4%

NYSE:UGP traded down $0.04 during trading hours on Wednesday, hitting $2.91. The company's stock had a trading volume of 1,623,511 shares, compared to its average volume of 1,694,304. Ultrapar Participações S.A. has a 52-week low of $2.53 and a 52-week high of $4.51. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $3.25 billion, a P/E ratio of 6.33, a price-to-earnings-growth ratio of 2.39 and a beta of 1.13. The stock has a fifty day moving average of $3.00 and a 200-day moving average of $2.91.

Ultrapar Participações Profile

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.