Worth Watching: Ferrellgas Partners, L.P.’s Trend Down, Especially After Today’s All-Time Low

Worth Watching: Ferrellgas Partners, L.P.'s Trend Down, Especially After Today's All Time Low

The stock of Ferrellgas Partners, L.P. (NYSE:FGP) reached all time low today, Oct, 31 and still has $7.91 target or 8.00% below today’s $8.60 share price. This indicates more downside for the $819.08M company. This technical setup was reported by Barchart.com. If the $7.91 PT is reached, the company will be worth $65.53 million 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 1.17 million shares traded hands or 12.50% up from the average. Ferrellgas Partners, L.P. (NYSE:FGP) has declined 44.49% since March 29, 2016 and is downtrending. It has underperformed by 47.96% the S&P500.

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 firm has “Underperform” rating by RBC Capital Markets given on Thursday, September 15. The rating was maintained by Barclays Capital with “Underweight” on Wednesday, September 30. The company was initiated on Monday, May 2 by RBC Capital Markets. Citigroup downgraded it to “Sell” rating and $14 target price in Tuesday, September 13 report. The firm earned “Underweight” rating on Wednesday, September 28 by JP Morgan. UBS maintained the stock with “Sell” rating in Thursday, September 29 report. Zacks upgraded the shares of FGP in a report on Tuesday, August 11 to “Strong Sell” rating. RBC Capital Markets maintained it with “Underperform” rating and $11 target price in Thursday, September 29 report. UBS downgraded the shares of FGP in a report on Friday, June 10 to “Sell” rating. On Monday, August 22 the stock rating was initiated by Piperjaffray with “Neutral”.

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 dropped, 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, Piershale Fin Group has 0% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 61 shares. Citigroup has invested 0% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP). Moreover, Texas Yale has 0.76% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 416,146 shares. Van Eck Associate reported 227,542 shares or 0.02% of all its holdings. The Pennsylvania-based Commonwealth Of Pennsylvania Public School Empls Retrmt has invested 0.05% in Ferrellgas Partners, L.P. (NYSE:FGP). Peak6 Investments Limited Partnership owns 15,147 shares or 0% of their US portfolio. Us Commercial Bank De accumulated 11,572 shares or 0% of the stock. Moreover, Commonwealth Equity Svcs has 0.01% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 55,499 shares. Estabrook Cap, a New York-based fund reported 167 shares. Goldman Sachs Group last reported 0% of its portfolio in the stock. Enterprise Financial Serv Corp holds 0.01% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 700 shares. Da Davidson And Co holds 3,442 shares or 0% of its portfolio. Hightower Advisors Limited Liability Corporation holds 42,200 shares or 0.01% of its portfolio. Hm Payson, a Maine-based fund reported 10,000 shares. Edge Wealth Mgmt Ltd accumulated 0% or 465 shares.

Insider Transactions: Since October 4, 2016, the stock had 2 buys, and 0 selling transactions for $141,220 net activity. 10,300 Ferrellgas Partners, L.P. (NYSE:FGP) shares with value of $97,860 were bought by Starling David L. Shares for $43,360 were bought by Clifford Stephen M on Thursday, October 6.

More notable recent Ferrellgas Partners, L.P. (NYSE:FGP) news were published by: Globenewswire.com which released: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Ferrellgas …” on October 31, 2016, also Prnewswire.com with their article: “Shareholder Class Action Filed Against Ferrellgas Partners, L.P. – FGP” published on October 08, 2016, Zacks.com published: “Ferrellgas Partners LP (FGP) Catches Eye: Stock Jumps 6.2%” on October 07, 2016. More interesting news about Ferrellgas Partners, L.P. (NYSE:FGP) were released by: Businesswire.com and their article: “Rosen Law Firm Reminds Ferrellgas Partners, L.P. Investors of Important …” published on October 26, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” with publication date: October 05, 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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