Ferrellgas Partners (NYSE:FGP) has been downgraded from Neutral to Underweight in a statement by Piper Jaffray earlier today.
- Updated: October 2, 2016
Piper Jaffray has downgraded Ferrellgas Partners (NYSE:FGP) from Neutral to Underweight in a statement released on 9/28/2016.
Having a price of $16.50, Ferrellgas Partners (NYSE:FGP) traded -1.10% lower on the day. With the last closing price down -36.97% from the two hundred day moving average, compared to the S&P 500 which has decreased -0.01% over the same period. Ferrellgas Partners has recorded a 50-day average of $18.30 and a 200-day moving average of $18.47. 2,158,074 shares of FGP traded hands, up from an average trading volume of 410,972
Recent Performance Chart
Ferrellgas Partners has 52 week low of $11.27 and a 52 week high of $21.22 and has a market capitalization of $0.
Also covering Ferrellgas Partners's target, a total of 6 analysts have released a research note on FGP. The average stock price target is $16.25 with 0 brokers rating the stock a strong buy, zero firms rating the stock a buy, five analysts rating the company a hold, 2 brokerages rating the stock a underperform, and finally 0 analysts rating the company a sell.
More 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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