The stock of Ferrellgas Partners, L.P. (NYSE:FGP) is a huge mover today! About 2.00M shares traded hands or 185.70% up from the average. Ferrellgas Partners, L.P. (NYSE:FGP) has declined 37.22% since February 29, 2016 and is downtrending. It has underperformed by 49.43% the S&P500.
The move comes after 8 months negative chart setup for the $1.02B company. It was reported on Oct, 4 by Barchart.com. We have $9.82 PT which if reached, will make NYSE:FGP worth $81.60M less.
Ferrellgas Partners, L.P. (NYSE:FGP) Ratings Coverage
Out of 9 analysts covering Ferrellgas Partners L.P. (NYSE:FGP), 0 rate it a “Buy”, 7 “Sell”, while 2 “Hold”. This means 0 are positive. Ferrellgas Partners L.P. has been the topic of 20 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The rating was maintained by UBS on Thursday, September 29 with “Sell”. On Thursday, September 29 the stock rating was maintained by RBC Capital Markets with “Underperform”. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, May 2. Barclays Capital maintained Ferrellgas Partners, L.P. (NYSE:FGP) on Wednesday, September 30 with “Underweight” rating. Piper Jaffray downgraded the stock to “Underweight” rating in Wednesday, September 28 report. PiperJaffray initiated the stock with “Neutral” rating in Monday, August 22 report. The rating was initiated by Piper Jaffray with “Neutral” on Monday, August 22. Zacks upgraded the shares of FGP in a report on Tuesday, August 11 to “Strong Sell” rating. Citigroup downgraded it to “Sell” rating and $14 target price in Tuesday, September 13 report. Piperjaffray initiated the shares of FGP in a report on Monday, August 22 with “Neutral” rating.
According to Zacks Investment Research, “FERRELLGAS PARTNERS, L.P. is engaged in the sale, distribution, marketing and trading of propane and other natural gas liquids.”
Insitutional Activity: The institutional sentiment decreased to 1.05 in Q2 2016. Its down 0.48, from 1.53 in 2016Q1. The ratio is negative, as 18 funds sold all Ferrellgas Partners, L.P. shares owned while 21 reduced positions. 9 funds bought stakes while 32 increased positions. They now own 7.56 million shares or 2.23% less from 7.74 million shares in 2016Q1.
Huntington Steele Ltd Liability accumulated 0.2% or 29,158 shares. Van Eck Assoc Corporation has 227,542 shares for 0.02% of their US portfolio. Umb Bank N A Mo, a Missouri-based fund reported 10,335 shares. Reilly Fincl Advsrs Ltd Liability Com reported 100 shares or 0% of all its holdings. Morgan Stanley accumulated 0% or 311,478 shares. Raymond James And owns 18,004 shares or 0% of their US portfolio. Financial Bank Of Montreal Can reported 3,000 shares or 0% of all its holdings. The Tennessee-based Livingston Group Asset (Operating As Southport Cap Management) has invested 0.01% in Ferrellgas Partners, L.P. (NYSE:FGP). Us Comml Bank De accumulated 0% or 11,572 shares. Advisory Incorporated holds 0.09% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 13,841 shares. Cambridge Invest Rech Advsr Inc reported 85,617 shares or 0.03% of all its holdings. Fifth Third National Bank & Trust holds 0% or 471 shares in its portfolio. Creative Planning has 36,694 shares for 0% of their US portfolio. Moreover, Stifel has 0% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 12,603 shares. The Colorado-based Cetera Advsrs Ltd Liability has invested 0.01% in Ferrellgas Partners, L.P. (NYSE:FGP).
More notable recent Ferrellgas Partners, L.P. (NYSE:FGP) news were published by: Seekingalpha.com which released: “Ferrellgas Partners: Another Lesson On Dividend Safety” on October 01, 2016, also Finance.Yahoo.com with their article: “Kirby McInerney LLP Announces Investigation on Behalf of Ferrellgas Partners …” published on September 30, 2016, Nasdaq.com published: “Ferrellgas Partners, L.P. Reports Fiscal 2016 Earnings” on September 28, 2016. More interesting news about Ferrellgas Partners, L.P. (NYSE:FGP) were released by: Finance.Yahoo.com and their article: “INVESTOR ALERT: Goldberg Law PC Announces an Investigation of Ferrellgas …” published on September 30, 2016 as well as Businesswire.com‘s news article titled: “INVESTOR ALERT: Investigation of Ferrellgas Partners LP Announced by Law …” with publication date: September 30, 2016.
FGP Company Profile
Ferrellgas Partners, L.P., incorporated on April 19, 1994, is engaged in the retail distribution of propane and related equipment sales, and midstream operations, which include crude oil logistics segment and water solutions segment. The Company’s two direct subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership. The Company’s assets are its approximate 99% limited partnership interest in the operating partnership and its 100% equity interest in Ferrellgas Partners Finance Corp. The Company’s general partner performs all management functions for the Company and holds a 1% general partner interest in Ferrellgas Partners and has an approximate 1% general partner interest in the operating partnership. It distributes propane and related equipment and supplies to clients in the United States. The Firm operates in three divisions: propane and related equipment sales, midstream activities – water solutions and midstream activities – crude oil logistics.
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