Published On: Tue, Sep 13th, 2016

Citigroup Inc. Downgrades Ferrellgas Partners, L.P. (FGP) to Sell

Ferrellgas Partners, L.P. (NYSE:FGP) was downgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Several other research analysts also recently weighed in on FGP. Zacks Investment Research downgraded Ferrellgas Partners, L.P. from a “hold” rating to a “strong sell” rating in a research note on Monday, June 13th. Simmons reaffirmed a “neutral” rating and set a $20.00 target price on shares of Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. Piper Jaffray Cos. assumed coverage on Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. They set a “neutral” rating for the company. Janney Montgomery Scott assumed coverage on Ferrellgas Partners, L.P. in a research note on Wednesday, August 24th. They set a “neutral” rating and a $20.00 target price for the company. Finally, Bank of America Corp. downgraded Ferrellgas Partners, L.P. to a “sell” rating in a research note on Friday, June 10th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.67.
Ferrellgas Partners, L.P. (NYSE:FGP) opened at 18.99 on Tuesday. The stock’s market capitalization is $1.86 billion. Ferrellgas Partners, L.P. has a 1-year low of $13.76 and a 1-year high of $22.27. The firm’s 50-day moving average is $19.76 and its 200 day moving average is $18.61.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th will be paid a $0.5125 dividend. This represents a $2.05 annualized dividend and a yield of 10.80%. The ex-dividend date of this dividend is Friday, September 2nd.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Concert Wealth Management Inc. increased its position in Ferrellgas Partners, L.P. by 28.0% in the second quarter. Concert Wealth Management Inc. now owns 99,048 shares of the company’s stock valued at $1,830,000 after buying an additional 21,647 shares in the last quarter. Arrow Investment Advisors LLC boosted its stake in shares of Ferrellgas Partners, L.P. by 12.0% in the second quarter. Arrow Investment Advisors LLC now owns 38,699 shares of the company’s stock valued at $715,000 after buying an additional 4,143 shares during the last quarter. UMB Bank N A MO boosted its stake in shares of Ferrellgas Partners, L.P. by 3.0% in the second quarter. UMB Bank N A MO now owns 10,335 shares of the company’s stock valued at $191,000 after buying an additional 300 shares during the last quarter. Jag Capital Management LLC bought a new stake in shares of Ferrellgas Partners, L.P. during the second quarter valued at about $215,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Ferrellgas Partners, L.P. by 6.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,410 shares of the company’s stock valued at $512,000 after buying an additional 1,870 shares during the last quarter.
Ferrellgas Partners, L.P. Company Profile
Ferrellgas Partners, L.P. is engaged in the retail distribution of propane and related equipment sales, and midstream operations, which include crude oil logistics segment and water solutions segment. The Company’s two direct subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership.

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