Ferrellgas Partners, L.P. (NYSE:FGP) shot up 9.2% during mid-day trading on Wednesday . The stock traded as high as $0.89 and last traded at $0.83, 717,315 shares were traded during trading. An increase of 155% from the average session volume of 281,110 shares. The stock had previously closed at $0.76.
Several brokerages have recently issued reports on FGP. Zacks Investment Research upgraded Ferrellgas Partners from a “hold” rating to a “strong-buy” rating and set a $1.00 price objective for the company in a research report on Monday. ValuEngine raised Ferrellgas Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.
The stock has a market cap of $70.92 million, a P/E ratio of -1.93 and a beta of 2.56. The company has a fifty day moving average of $0.83 and a 200 day moving average of $1.14.
A number of large investors have recently made changes to their positions in FGP. Virtu Financial LLC increased its stake in Ferrellgas Partners by 610.5% in the first quarter. Virtu Financial LLC now owns 98,055 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 84,255 shares during the period. Camelot Portfolios LLC bought a new stake in Ferrellgas Partners in the first quarter valued at about $33,000. Barber Financial Group Inc. bought a new stake in Ferrellgas Partners in the first quarter valued at about $39,000. TAP Consulting LLC bought a new stake in Ferrellgas Partners in the first quarter valued at about $30,000. Finally, Regal Investment Advisors LLC bought a new stake in Ferrellgas Partners in the first quarter valued at about $32,000. 4.43% of the stock is currently owned by hedge funds and other institutional investors.
About Ferrellgas Partners (NYSE:FGP)
Ferrellgas Partners, L.P. distributes and sells propane and related equipment and supplies. The company transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers. It conducts its portable tank exchange operations under the Blue Rhino brand name through a network of independent and partnership-owned distribution outlets.
Recommended Story: What are different types of coverage ratios?
Receive News & Ratings for Ferrellgas Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrellgas Partners and related companies with MarketBeat.com's FREE daily email newsletter.