A statement released earlier today by UBS Securities about Ferrellgas Partners (NYSE:FGP) bumps down the target price to $10.00
- Updated: September 29, 2016
Boasting a price of $12.17, Ferrellgas Partners (NYSE:FGP) traded -6.77% lower on the day. With the last stock price close down -34.63% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same period. FGP has recorded a 50-day average of $18.75 and a two hundred day average of $18.54. 1,295,656 shares of the stock were exchanged, up from an average trading volume of 344,911
UBS Securities bumped down the target of Ferrellgas Partners (NYSE:FGP) to $10.00 stating a potential downside of -0.18%.
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Ferrellgas Partners has a 52 week low of $12.03 and a 52 week high of $21.22 The company’s market cap is currently $0.
In addition to UBS Securities reporting its target price, a total of 6 brokers have issued a report on the stock. The consensus target price is $16.25 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 5 brokers rating the stock a hold, 2 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Ferrellgas Partners (NYSE:FGP)
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. Its assets are its approximate 99% limited partnership interest in the operating partnership and its 100% equity interest in Ferrellgas Partners Finance Corp. Its general partner performs all management functions for the Company and holds a 1% general partner interest in Ferrellgas Partners and has an approximate 1% general partner interest in the operating partnership. It distributes propane and related equipment and supplies to customers in the United States. The Company operates in three segments: propane and related equipment sales, midstream operations – water solutions and midstream operations – crude oil logistics.
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