Price Action Don’t Lie: Ferrellgas Partners, L.P. Hit 1 Year Low

Price Action Don't Lie: Ferrellgas Partners, L.P. Hit 1 Year Low

The stock of Ferrellgas Partners, L.P. (NYSE:FGP) hit a new 52-week low and has $6.75 target or 7.00% below today’s $7.26 share price. The 9 months bearish chart indicates high risk for the $703.54 million company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $6.75 price target is reached, the company will be worth $49.25 million 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 458,159 shares traded hands. Ferrellgas Partners, L.P. (NYSE:FGP) has declined 56.61% since April 12, 2016 and is downtrending. It has underperformed by 61.59% 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 firm has “Sell” rating by Citigroup given on Thursday, September 29. As per Friday, June 10, the company rating was downgraded by UBS. On Thursday, September 15 the stock rating was downgraded by RBC Capital Markets to “Underperform”. The company was maintained on Wednesday, September 30 by Barclays Capital. On Wednesday, November 2 the stock rating was upgraded by Citigroup to “Neutral”. The company was maintained on Thursday, September 29 by RBC Capital Markets. The rating was initiated by Janney Capital on Tuesday, March 22 with “Neutral”. RBC Capital Markets initiated it with “Sector Perform” rating and $19 target price in Monday, May 2 report. Janney Capital initiated Ferrellgas Partners, L.P. (NYSE:FGP) on Wednesday, August 24 with “Neutral” rating. 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 Q2 2016. 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.
The Massachusetts-based Albert D Mason has invested 0.53% in Ferrellgas Partners, L.P. (NYSE:FGP). Envestnet Asset Management, a Illinois-based fund reported 12,686 shares. Whittier holds 300 shares or 0% of its portfolio. Piershale Gru Incorporated holds 0% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 61 shares. The Texas-based Segment Wealth Mngmt Lc has invested 0.12% in Ferrellgas Partners, L.P. (NYSE:FGP). State Bank Of America Corporation De holds 105,375 shares or 0% of its portfolio. The Florida-based Texas Yale has invested 0.76% in Ferrellgas Partners, L.P. (NYSE:FGP). Van Eck Assoc Corp reported 227,542 shares or 0.02% of all its holdings. Moreover, Mufg Americas has 0% invested in Ferrellgas Partners, L.P. (NYSE:FGP) for 3,000 shares. Goldman Sachs Grp Incorporated holds 0% or 217,744 shares in its portfolio. Ameritas Inv Prns owns 4,000 shares or 0% of their US portfolio. Architects has 3,751 shares for 0.02% of their US portfolio. First Manhattan holds 4,000 shares or 0% of its portfolio. Financial Ser Corp holds 700 shares or 0.01% of its portfolio. Plante Moran Ltd Liability holds 0.09% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 6,489 shares.

Insider Transactions: Since October 4, 2016, the stock had 2 buys, and 0 selling transactions for $141,220 net activity. On Thursday, October 6 Clifford Stephen M bought $43,360 worth of the stock or 4,000 shares. 10,300 Ferrellgas Partners, L.P. (NYSE:FGP) shares with value of $97,860 were bought by Starling David L.

More notable recent Ferrellgas Partners, L.P. (NYSE:FGP) news were published by: Fool.com which released: “Will Ferrellgas Partners, LP Sink or Swim?” on November 04, 2016, also Fool.com with their article: “Shares of Ferrellgas Partners LP Continued to Suffer in October From Its …” 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: Businesswire.com and their article: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Ferrellgas …” published on November 10, 2016 as well as Fool.com‘s news article titled: “3 Reasons Ferrellgas Partners L.P.’s Stock Could Soar” with publication date: April 01, 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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