The stock of Ferrellgas Partners, L.P. (NYSE:FGP) reached all time low today, Nov, 29 and still has $5.64 target or 4.00% below today’s $5.88 share price. This indicates more downside for the $545.09M company. This technical setup was reported by Barchart.com. If the $5.64 PT is reached, the company will be worth $21.80M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 1.74 million shares traded hands or 123.66% up from the average. Ferrellgas Partners, L.P. (NYSE:FGP) has declined 65.92% since April 26, 2016 and is downtrending. It has underperformed by 71.18% 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. Ferrellgas Partners L.P. has been the topic of 21 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The stock has “Sell” rating given by Citigroup on Thursday, September 29. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, May 2. On Wednesday, September 30 the stock rating was maintained by Barclays Capital with “Underweight”. The firm earned “Underweight” rating on Wednesday, September 28 by PiperJaffray. The rating was downgraded by Piper Jaffray to “Underweight” on Wednesday, September 28. The company was initiated on Monday, August 22 by Piperjaffray. The firm earned “Neutral” rating on Tuesday, March 22 by Janney Capital. The firm earned “Underweight” rating on Wednesday, September 28 by JP Morgan. UBS maintained Ferrellgas Partners, L.P. (NYSE:FGP) on Thursday, September 29 with “Sell” rating. The firm has “Neutral” rating by PiperJaffray given on Monday, August 22.
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 is positive, 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.
Global X Lc has invested 0.31% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP). Stifel Finance last reported 0% of its portfolio in the stock. Moreover, Bb&T Securities Ltd has 0.03% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 106,050 shares. Concert Wealth Management reported 99,048 shares or 0.25% of all its holdings. The California-based United Capital Fincl Advisers Lc has invested 0% in Ferrellgas Partners, L.P. (NYSE:FGP). Us Bancorporation De, a Minnesota-based fund reported 11,572 shares. Mycio Wealth Prtnrs Ltd Liability has 156 shares for 0% of their US portfolio. Exane Derivatives owns 39 shares or 0% of their US portfolio. The Montana-based Da Davidson & has invested 0% in Ferrellgas Partners, L.P. (NYSE:FGP). Wealthtrust holds 0.01% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 514 shares. The California-based California Pub Employees Retirement Sys has invested 0.01% in Ferrellgas Partners, L.P. (NYSE:FGP). Joel Isaacson Limited Liability, a New York-based fund reported 520 shares. Manufacturers Life Insurance The accumulated 0% or 3,085 shares. Pnc Svcs Group Inc Inc has invested 0% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP). Tortoise Inv Mngmt Ltd Liability last reported 3,000 shares in the company.
Insider Transactions: Since October 4, 2016, the stock had 2 buys, and 0 selling transactions for $141,220 net activity. Clifford Stephen M bought $43,360 worth of stock. On Tuesday, October 4 the insider Starling David L bought $97,860.
More important 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 Fool.com published article titled: “Will Ferrellgas Partners, LP Sink or Swim?”, Fool.com published: “Shares of Ferrellgas Partners LP Continued to Suffer in October From Its …” on November 09, 2016. More interesting news about Ferrellgas Partners, L.P. (NYSE:FGP) was released by: Globenewswire.com and their article: “Ferrellgas Partners, L.P. Declares First Quarter 2017 Cash Distribution” with publication date: November 22, 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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