Ferrellgas Partners, L.P. (NYSE:FGP) was downgraded by investment analysts at Royal Bank Of Canada from a “sector perform” rating to an “underperform” rating in a research report issued to clients and investors on Thursday. They presently have a $13.00 target price on the stock, down from their previous target price of $17.00. Royal Bank Of Canada’s target price suggests a potential downside of 23.26% from the company’s current price.

A number of other research analysts have also recently weighed in on FGP. Simmons reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a research report on Monday, August 22nd. Piper Jaffray Cos. initiated coverage on Ferrellgas Partners, L.P. in a research report on Monday, August 22nd. They set a “neutral” rating on the stock. Janney Montgomery Scott initiated coverage on Ferrellgas Partners, L.P. in a research report on Wednesday, August 24th. They set a “neutral” rating and a $20.00 price objective on the stock. Zacks Investment Research raised Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Citigroup Inc. cut Ferrellgas Partners, L.P. from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $15.50 to $14.00 in a research report on Tuesday, September 13th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has a consensus rating of “Sell” and a consensus price target of $17.00.

Ferrellgas Partners, L.P. (NYSE:FGP) opened at 16.94 on Thursday. Ferrellgas Partners, L.P. has a 52-week low of $13.76 and a 52-week high of $22.27. The company’s market capitalization is $1.66 billion. The company has a 50 day moving average of $19.61 and a 200 day moving average of $18.63.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th were issued a $0.5125 dividend. The ex-dividend date was Friday, September 2nd. This represents a $2.05 dividend on an annualized basis and a yield of 12.10%.

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG increased its stake in Ferrellgas Partners, L.P. by 126.5% in the first quarter. UBS Group AG now owns 521,612 shares of the company’s stock worth $9,076,000 after buying an additional 291,288 shares during the last quarter. Texas Yale Capital Corp. increased its stake in Ferrellgas Partners, L.P. by 0.6% in the second quarter. Texas Yale Capital Corp. now owns 416,146 shares of the company’s stock worth $7,690,000 after buying an additional 2,516 shares during the last quarter. California Public Employees Retirement System increased its stake in Ferrellgas Partners, L.P. by 20.2% in the second quarter. California Public Employees Retirement System now owns 354,900 shares of the company’s stock worth $6,559,000 after buying an additional 59,600 shares during the last quarter. Global X Management Co. LLC increased its stake in Ferrellgas Partners, L.P. by 11.4% in the second quarter. Global X Management Co. LLC now owns 335,752 shares of the company’s stock worth $6,205,000 after buying an additional 34,485 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Ferrellgas Partners, L.P. by 108.6% in the second quarter. JPMorgan Chase & Co. now owns 300,452 shares of the company’s stock worth $5,552,000 after buying an additional 156,397 shares during the last quarter.

About Ferrellgas Partners, L.P.

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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