RBC Capital announced Ferrellgas Partners (NYSE:FGP), dropping its stock price target to $11.00 today
- Updated: September 28, 2016
Just yesterday Ferrellgas Partners (NYSE:FGP) traded -19.06% lower at $13.00. Ferrellgas Partners’s 50-day moving average is $18.94 and its 200-day moving average is $18.58. The last stock price is down -28.13% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 2,599,012 shares of FGP traded hands, up from an average trading volume of 249,602
In a report released on 9/29/2016 RBC Capital reduced the stock price target of Ferrellgas Partners (NYSE:FGP) from $13.00 to $11.00 reporting a possible downside of -0.15%.
Recent Performance Chart
Ferrellgas Partners has 52 week low of $13.23 and a 52 week high of $21.22 and has a market capitalization of $0.
In addition to RBC Capital reporting its stock price target, a total of 6 brokerages have issued a ratings update on the company. The average stock price target is $16.25 with 0 brokerages rating the stock a strong buy, 0 brokerages rating the stock a buy, 5 brokerages rating the stock a hold, 2 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On 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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