RBC Capital Markets lowered shares of Ferrellgas Partners, L.P. (NYSE:FGP) from a sector perform rating to an underperform rating in a research note released on Thursday morning. The brokerage currently has $13.00 price target on the stock, down from their previous price target of $17.00.

A number of other research firms have also issued reports on FGP. Simmons reaffirmed a neutral rating and issued a $20.00 target price on shares of Ferrellgas Partners, L.P. in a report on Monday, August 22nd. Piper Jaffray Cos. began coverage on Ferrellgas Partners, L.P. in a report on Monday, August 22nd. They issued a neutral rating on the stock. Janney Montgomery Scott began coverage on Ferrellgas Partners, L.P. in a research report on Wednesday, August 24th. They issued a neutral rating and a $20.00 price objective for the company. Zacks Investment Research upgraded Ferrellgas Partners, L.P. from a strong sell rating to a hold rating in a research report on Tuesday, August 9th. Finally, Citigroup Inc. downgraded Ferrellgas Partners, L.P. from a neutral rating to a sell rating and reduced their price objective for the stock from $15.50 to $14.00 in a research report on Tuesday, September 13th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of Sell and an average target price of $17.00.

Ferrellgas Partners, L.P. (NYSE:FGP) opened at 17.24 on Thursday. The stock has a 50 day moving average price of $19.40 and a 200 day moving average price of $18.59. The company’s market cap is $1.69 billion. Ferrellgas Partners, L.P. has a 1-year low of $13.76 and a 1-year high of $22.07.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th were given a dividend of $0.5125 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $2.05 annualized dividend and a dividend yield of 11.89%.

Institutional investors have recently bought and sold shares of the company. UMB Bank N A MO increased its position in Ferrellgas Partners, L.P. by 3.0% in the second quarter. UMB Bank N A MO now owns 10,335 shares of the company’s stock valued at $191,000 after buying an additional 300 shares during the period. Alliancebernstein L.P. increased its position in Ferrellgas Partners, L.P. by 2.5% in the second quarter. Alliancebernstein L.P. now owns 11,419 shares of the company’s stock valued at $211,000 after buying an additional 279 shares during the period. Jag Capital Management LLC bought a new position in Ferrellgas Partners, L.P. during the second quarter valued at approximately $215,000. Stifel Financial Corp increased its position in Ferrellgas Partners, L.P. by 0.8% in the second quarter. Stifel Financial Corp now owns 12,603 shares of the company’s stock valued at $233,000 after buying an additional 95 shares during the period. Finally, Financial Advisory Service Inc. increased its position in Ferrellgas Partners, L.P. by 2.0% in the second quarter. Financial Advisory Service Inc. now owns 13,841 shares of the company’s stock valued at $256,000 after buying an additional 271 shares during the period.

Ferrellgas Partners, L.P. Company Profile

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.

5 Day Chart for NYSE:FGP

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