Shares of Ferrellgas Partners, L.P. (NYSE:FGP) gapped down prior to trading on Thursday . The stock had previously closed at $0.68, but opened at $0.65. Ferrellgas Partners shares last traded at $0.69, with a volume of 7,819 shares trading hands.
A number of analysts have commented on FGP shares. Zacks Investment Research upgraded shares of Ferrellgas Partners from a “hold” rating to a “strong-buy” rating and set a $1.00 price objective for the company in a report on Monday, August 19th. ValuEngine upgraded shares of Ferrellgas Partners from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.
The stock’s fifty day moving average price is $0.90 and its 200-day moving average price is $1.01. The firm has a market cap of $92.47 million, a price-to-earnings ratio of -1.06 and a beta of 2.59.
Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Ferrellgas Partners by 8,924.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,252 shares of the oil and gas company’s stock worth $62,000 after buying an additional 63,540 shares during the last quarter. Morgan Stanley increased its holdings in shares of Ferrellgas Partners by 35.4% during the 2nd quarter. Morgan Stanley now owns 987,137 shares of the oil and gas company’s stock worth $943,000 after buying an additional 257,906 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Ferrellgas Partners by 104.3% during the 2nd quarter. Creative Planning now owns 56,005 shares of the oil and gas company’s stock worth $53,000 after buying an additional 28,586 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.
Ferrellgas Partners Company Profile (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.
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