Stock of The Day: Does Ferrellgas Partners, L.P. Have Any Gas After Achieving All-Time Low?

Stock of The Day: Does Ferrellgas Partners, L.P. Have Any Gas After Achieving All Time Low?

The stock of Ferrellgas Partners, L.P. (NYSE:FGP) reached all time low today, Nov, 23 and still has $6.57 target or 6.00% below today’s $6.99 share price. This indicates more downside for the $665.48 million company. This technical setup was reported by Barchart.com. If the $6.57 PT is reached, the company will be worth $39.93M 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 603,559 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 EPS, down 27.27% or $0.09 from last year’s $-0.33 per share. After $-2.51 actual EPS 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 of Ferrellgas Partners, L.P. (NYSE:FGP) earned “Underweight” rating by Piper Jaffray on Wednesday, September 28. Citigroup maintained the shares of FGP in a report on Thursday, September 29 with “Sell” rating. RBC Capital Markets initiated the stock with “Sector Perform” rating in Monday, May 2 report. The firm earned “Neutral” rating on Wednesday, November 2 by Citigroup. As per Friday, June 10, the company rating was downgraded by UBS. As per Wednesday, September 28, the company rating was downgraded by PiperJaffray. JP Morgan downgraded the shares of FGP in a report on Wednesday, September 28 to “Underweight” rating. The stock of Ferrellgas Partners, L.P. (NYSE:FGP) earned “Neutral” rating by Piper Jaffray on Monday, August 22. Janney Capital initiated Ferrellgas Partners, L.P. (NYSE:FGP) on Tuesday, March 22 with “Neutral” rating. UBS maintained the shares of FGP in a report on Thursday, September 29 with “Sell” rating.

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.
North Star Mngmt Corporation last reported 3,000 shares in the company. The Missouri-based Monetary has invested 0.01% in Ferrellgas Partners, L.P. (NYSE:FGP). Huntington Steele Limited Liability Company owns 29,158 shares or 0.2% of their US portfolio. Lakeview Prtnrs Limited Co has 0.69% invested in the company for 61,868 shares. Estabrook Mngmt holds 0% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 167 shares. Creative Planning reported 36,694 shares or 0% of all its holdings. Ameritas Invest Partners accumulated 0% or 4,000 shares. Citigroup holds 8,807 shares or 0% of its portfolio. Commonwealth Equity last reported 55,499 shares in the company. Next Financial Inc last reported 2,721 shares in the company. Reilly Advsrs Lc has invested 0% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP). Focused Wealth Mngmt Inc accumulated 0% or 441 shares. Texas Yale Cap Corp holds 416,146 shares or 0.76% of its portfolio. Bb&T Limited Liability Company holds 0.03% of its portfolio in Ferrellgas Partners, L.P. (NYSE:FGP) for 106,050 shares. Hm Payson Com last reported 0.01% of its portfolio in the stock.

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

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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