The stock of Ferrellgas Partners, L.P. (NYSE:FGP) hit a new 52-week low and has $7.28 target or 8.00% below today’s $7.91 share price. The 7 months bearish chart indicates high risk for the $740.96 million company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $7.28 price target is reached, the company will be worth $59.28M 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 341,270 shares traded hands. Ferrellgas Partners, L.P. (NYSE:FGP) has declined 55.80% since April 7, 2016 and is downtrending. It has underperformed by 60.58% 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”, 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 company was upgraded on Tuesday, August 11 by Zacks. As per Monday, August 22, the company rating was initiated by Piperjaffray. As per Monday, May 2, the company rating was initiated by RBC Capital Markets. RBC Capital Markets maintained it with “Underperform” rating and $11 target price in Thursday, September 29 report. The firm earned “Sell” rating on Thursday, September 29 by UBS. The firm has “Neutral” rating given on Monday, August 22 by Piper Jaffray. The stock of Ferrellgas Partners, L.P. (NYSE:FGP) earned “Neutral” rating by Janney Capital on Tuesday, March 22. The stock of Ferrellgas Partners, L.P. (NYSE:FGP) earned “Underweight” rating by Piper Jaffray on Wednesday, September 28. The stock has “Sell” rating given by UBS on Friday, June 10. The stock has “Neutral” rating given by Janney Capital on Wednesday, August 24.
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.
Livingston Group Asset Management Com (Operating As Southport Management) holds 0.01% or 500 shares in its portfolio. X Limited Liability Company holds 0.31% or 335,752 shares in its portfolio. Exane Derivatives holds 39 shares or 0% of its portfolio. Piershale Fin Grp last reported 61 shares in the company. Creative Planning last reported 0% of its portfolio in the stock. Bank & Trust Of America De holds 105,375 shares or 0% of its portfolio. Ameritas Investment Inc, a Nebraska-based fund reported 4,000 shares. Raymond James And Associate has 18,004 shares for 0% of their US portfolio. Mycio Wealth Prtnrs Limited Liability Co last reported 0% of its portfolio in the stock. Lpl Financial Limited Liability owns 55,892 shares or 0.01% of their US portfolio. Jpmorgan Chase has 300,452 shares for 0% of their US portfolio. Moreover, Ladenburg Thalmann Fin Services has 0.01% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 41,106 shares. Us National Bank & Trust De holds 0% or 11,572 shares in its portfolio. Mufg Americas Corporation owns 3,000 shares or 0% of their US portfolio. Focused Wealth Management holds 441 shares or 0% of its portfolio.
Insider Transactions: Since October 4, 2016, the stock had 2 insider purchases, and 0 selling transactions for $141,220 net activity. $97,860 worth of Ferrellgas Partners, L.P. (NYSE:FGP) shares were bought by Starling David L. On Thursday, October 6 the insider Clifford Stephen M bought $43,360.
More notable recent Ferrellgas Partners, L.P. (NYSE:FGP) news were published by: Prnewswire.com which released: “Salpeter Gitkin, LLP Reminds Shareholders of Ferrellgas Partners. L.P. of …” on November 09, 2016, also Businesswire.com with their article: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Ferrellgas …” published on November 09, 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: Globenewswire.com and their article: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Ferrellgas …” published on October 31, 2016 as well as Prnewswire.com‘s news article titled: “Shareholder Class Action Filed Against Ferrellgas Partners, L.P. – FGP” with publication date: October 08, 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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