Ferrellgas Partners (NYSE:FGP) has been downgraded from Sector Perform to Underperform in a report by RBC Capital Markets today.
- Updated: September 15, 2016
RBC Capital Markets has downgraded Ferrellgas Partners(NYSE:FGP) from Sector Perform to Underperform in a statement released on Thursday September 15 2016.
Previously on 9/13/2016, Citigroup released a statement on Ferrellgas Partners(NYSE:FGP) dropped the target price from $15.50 to $14.00. At the time, this suggested a downside of -0.26%.
Just yesterday Ferrellgas Partners (NYSE:FGP) traded 1.28% higher at $18.24. The company’s 50-day moving average is $19.58 and its 200-day average is $18.62. With the last stock close down 2.06% from the two hundred day average, compared with the S&P 500 Index which has fallen -0.01% over the date range. Trading volume was was up over the average, with 389,148 shares of FGP changing hands over the typical 224,366 shares..
Recent Performance Chart:
Ferrellgas Partners has a 52 week low of $13.76 and a one-year high of $22.27 and has a market cap of $0.0.
A total of 6 equity analysts have reported on the stock. Zero rate the company a strong buy, 0 rate the company a buy, five firms rate the stock a hold, two analysts rate the stock to underperform, and finally 0 brokeragesrate the company as sell with a 12-month target stock price of $16.25
General Company Details For 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, and midstream operations – water solutions and midstream operations – crude oil logistics.
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