Price Action Report: What’s Ahead for Ferrellgas Partners, L.P. After Touching 52-Week Low?

Price Action Report: What's Ahead for Ferrellgas Partners, L.P. After Touching 52 Week Low?

The stock of Ferrellgas Partners, L.P. (NYSE:FGP) hit a new 52-week low and has $6.65 target or 5.00% below today’s $7.00 share price. The 9 months bearish chart indicates high risk for the $666.43 million company. The 1-year low was reported on Nov, 23 by Barchart.com. If the $6.65 price target is reached, the company will be worth $33.32M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 359,527 shares traded hands. Ferrellgas Partners, L.P. (NYSE:FGP) has declined 59.70% since April 21, 2016 and is downtrending. It has underperformed by 65.03% the S&P500.

Analysts await Ferrellgas Partners, L.P. (NYSE:FGP) to report earnings on December, 9 before the open. They expect $-0.42 earnings per share, down 27.27% or $0.09 from last year’s $-0.33 per share. After $-2.51 actual earnings per share reported by Ferrellgas Partners, L.P. for the previous quarter, Wall Street now forecasts -83.27% EPS growth.

Ferrellgas Partners, L.P. (NYSE:FGP) Ratings Coverage

Out of 9 analysts covering Ferrellgas Partners L.P. (NYSE:FGP), 0 rate it a “Buy”, 6 “Sell”, while 3 “Hold”. This means 0 are positive. $21 is the highest target while $10 is the lowest. The $13.40 average target is 91.43% above today’s ($7) stock price. Ferrellgas Partners L.P. has been the topic of 21 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The rating was initiated by PiperJaffray on Monday, August 22 with “Neutral”. The company was downgraded on Wednesday, September 28 by PiperJaffray. The firm has “Underweight” rating given on Wednesday, September 28 by JP Morgan. The firm has “Neutral” rating given on Wednesday, November 2 by Citigroup. The firm earned “Underweight” rating on Wednesday, September 30 by Barclays Capital. As per Tuesday, August 11, the company rating was upgraded by Zacks. The rating was downgraded by Citigroup on Tuesday, September 13 to “Sell”. The rating was maintained by RBC Capital Markets with “Underperform” on Thursday, September 29. The stock of Ferrellgas Partners, L.P. (NYSE:FGP) has “Sell” rating given on Friday, June 10 by UBS. UBS maintained the stock with “Sell” rating in Thursday, September 29 report.

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 increased to 2.24 in 2016 Q2. Its up 1.19, from 1.05 in 2016Q1. The ratio improved, 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.
Moreover, Pnc Fincl Ser Group Inc has 0% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 37,047 shares. Delta Asset Mngmt Ltd Tn has 400 shares for 0% of their US portfolio. Novare Mngmt Ltd Com has 154,789 shares for 0.77% of their US portfolio. Moreover, Piershale Fin Gru has 0% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 61 shares. Ameriprise Fincl last reported 0% of its portfolio in the stock. The Florida-based Texas Yale Cap has invested 0.76% in Ferrellgas Partners, L.P. (NYSE:FGP). The Ohio-based Huntington Fincl Bank has invested 0% in Ferrellgas Partners, L.P. (NYSE:FGP). Edge Wealth Management Ltd Liability Corp owns 465 shares or 0% of their US portfolio. Hm Payson & accumulated 10,000 shares or 0.01% of the stock. Finemark Bancorp & holds 0% or 500 shares in its portfolio. Moreover, Creative Planning has 0% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 36,694 shares. Concert Wealth Management Inc last reported 0.25% of its portfolio in the stock. Lpl Limited Liability Company, a California-based fund reported 55,892 shares. The France-based Exane Derivatives has invested 0% in Ferrellgas Partners, L.P. (NYSE:FGP). Umb National Bank N A Mo last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since October 4, 2016, the stock had 2 buys, and 0 insider sales for $141,220 net activity. Starling David L bought $97,860 worth of stock or 10,300 shares. Clifford Stephen M bought $43,360 worth of stock or 4,000 shares.

More notable recent Ferrellgas Partners, L.P. (NYSE:FGP) news were published by: Fool.com which released: “3 Great Reasons to Buy Ferrellgas Partners, LP” on November 21, 2016, also Globenewswire.com with their article: “Ferrellgas Partners, L.P. Declares First Quarter 2017 Cash Distribution” published on November 22, 2016, Fool.com published: “Will Ferrellgas Partners, LP Sink or Swim?” on November 04, 2016. More interesting news about Ferrellgas Partners, L.P. (NYSE:FGP) were released by: Fool.com and their article: “Shares of Ferrellgas Partners LP Continued to Suffer in October From Its …” published on November 09, 2016 as well as Prnewswire.com‘s news article titled: “Expanded Class Period And Deadline Reminder For Ferrellgas Partners. L.P …” with publication date: November 17, 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. The Company’s divisions include propane and related equipment sales, midstream operations-crude oil logistics, and corporate and other. The propane and related equipment sales segment consists of the distribution of propane and related equipment and supplies. The midstream operations-crude oil logistics segment is engaged in providing crude oil transportation and logistics services. The corporate and other segment includes midstream operations-water solutions. The Company’s two subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership. The Company’s general partner performs all management functions for the Company and holds general partner interest in Ferrellgas Partners and the operating partnership.

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