UBS Downgrades Ferrellgas Partners L.P. to Sell

Brokerage firm UBS Downgrades its rating on Ferrellgas Partners L.P.(NYSE:FGP). The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by UBS was issued on Jun 10, 2016.

In a different note, RBC Capital said it Initiates Coverage on Ferrellgas Partners L.P., according to a research note issued on May 2, 2016. The shares have been rated ‘Sector Perform’ by the firm. On Apr 1, 2016, Citigroup said it Maintains its rating on Ferrellgas Partners L.P.. In the research note, the firm Lowers the price-target to $16.50 per share. The shares have been rated ‘Neutral’ by the firm. Janney Capital said it Initiates Coverage on Ferrellgas Partners L.P., according to a research note issued on Mar 22, 2016. The shares have been rated ‘Neutral’ by the firm.

Ferrellgas Partners L.P. (FGP) made into the market gainers list on Wednesdays trading session with the shares advancing 3.66% or 0.62 points. Due to strong positive momentum, the stock ended at $17.55, which is also near the day’s high of $17.7096. The stock began the session at $17.19 and the volume stood at 3,53,111 shares. The 52-week high of the shares is $23.49 and the 52 week low is $13.76. The company has a current market capitalization of $1,720 M and it has 9,80,02,665 shares in outstanding.

Ferrellgas Partners L.P.(FGP) last announced its earnings results on Jun 8, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $509.47M. Analysts had an estimated revenue of $759.42M. Earnings per share were $0.24. Analysts had estimated an EPS of $0.51.

Several Insider Transactions has been reported to the SEC. On Dec 15, 2015, Stephen M Clifford (director) purchased 3,000 shares at $14.76 per share price.Also, On Dec 14, 2015, Michael F Morrissey (director) purchased 2,000 shares at $15.29 per share price.On Dec 11, 2015, Alan C Heitmann (CFO) purchased 5,960 shares at $15.80 per share price, according to the Form-4 filing with the securities and exchange commission.

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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