The stock of Ferrellgas Partners, L.P. (NYSE:FGP) is a huge mover today! About 1.78 million shares traded hands or 104.31% up from the average. Ferrellgas Partners, L.P. (NYSE:FGP) has declined 47.46% since March 2, 2016 and is downtrending. It has underperformed by 55.72% the S&P500.
The move comes after 8 months positive chart setup for the $885.86 million company. It was reported on Oct, 5 by Barchart.com. We have $14.90 PT which if reached, will make NYSE:FGP worth $434.07 million more.
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 initiated by Piper Jaffray with “Neutral” on Monday, August 22. Piperjaffray initiated the shares of FGP in a report on Monday, August 22 with “Neutral” rating. The company was maintained on Thursday, September 29 by Citigroup. On Tuesday, March 22 the stock rating was initiated by Janney Capital with “Neutral”. The rating was downgraded by PiperJaffray on Wednesday, September 28 to “Underweight”. The company was maintained on Thursday, September 29 by UBS. The stock has “Underweight” rating given by JP Morgan on Wednesday, September 28. Piper Jaffray downgraded Ferrellgas Partners, L.P. (NYSE:FGP) on Wednesday, September 28 to “Underweight” rating. On Tuesday, September 13 the stock rating was downgraded by Citigroup to “Sell”. As per Monday, August 22, the company rating was initiated by PiperJaffray.
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 2016 Q2. Its down 0.48, from 1.53 in 2016Q1. The ratio turned 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.
First Manhattan accumulated 4,000 shares or 0% of the stock. Pnc Financial Ser Gp, a Pennsylvania-based fund reported 37,047 shares. Arrow Invest Advsrs Limited Liability Company has invested 0.16% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP). Next Fincl Grp Inc owns 2,721 shares or 0.02% of their US portfolio. Telemus Cap Ltd Co owns 23,000 shares or 0.05% of their US portfolio. Oppenheimer And Com has 12,360 shares for 0.01% of their US portfolio. Hm Payson Co owns 10,000 shares or 0.01% of their US portfolio. Umb Comml Bank N A Mo, a Missouri-based fund reported 10,335 shares. Texas Yale Capital Corporation accumulated 416,146 shares or 0.76% of the stock. Patten Gru Inc owns 200 shares or 0% of their US portfolio. Lakeview Partners Ltd Liability accumulated 61,868 shares or 0.69% of the stock. Fort Point Capital Prtn Ltd Limited Liability Company holds 0.26% or 29,350 shares in its portfolio. Livingston Grp Inc Asset Mgmt (Operating As Southport Management) has 500 shares for 0.01% of their US portfolio. Barclays Public Limited Com holds 0% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 72,226 shares. Tortoise Management Llc owns 3,000 shares or 0.02% of their US portfolio.
More notable recent Ferrellgas Partners, L.P. (NYSE:FGP) news were published by: Moodys.com which released: “Moody’s downgrades Ferrellgas Partners to B2, changes outlook to negative” on October 05, 2016, also Seekingalpha.com with their article: “Ferrellgas Partners: Another Lesson On Dividend Safety” published on October 01, 2016, Kansascity.com published: “Ferrellgas CEO out after large financial loss” on September 28, 2016. More interesting news about Ferrellgas Partners, L.P. (NYSE:FGP) were released by: Businesswire.com and their article: “EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims …” published on October 03, 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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