Ferrellgas Partners (NYSE:FGP) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of Ferrellgas Partners (NYSE:FGP) from a sell rating to a hold rating in a research report sent to investors on Thursday, ValuEngine reports.

NYSE:FGP traded up $0.01 during mid-day trading on Thursday, hitting $0.78. The stock had a trading volume of 117,009 shares, compared to its average volume of 218,155. Ferrellgas Partners has a twelve month low of $0.53 and a twelve month high of $3.61. The firm has a market cap of $74.84 million, a PE ratio of -1.81 and a beta of 2.56. The stock has a 50 day simple moving average of $0.93.

Ferrellgas Partners (NYSE:FGP) last issued its earnings results on Monday, June 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $479.63 million during the quarter. Analysts forecast that Ferrellgas Partners will post -0.54 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Camelot Portfolios LLC bought a new position in Ferrellgas Partners in the 1st quarter valued at about $33,000. Barber Financial Group Inc. bought a new position in Ferrellgas Partners in the 1st quarter valued at about $39,000. Regal Investment Advisors LLC bought a new position in Ferrellgas Partners in the 1st quarter valued at about $32,000. Nicolet Advisory Services LLC bought a new position in Ferrellgas Partners in the 1st quarter valued at about $39,000. Finally, Virtu Financial LLC raised its holdings in Ferrellgas Partners by 610.5% in the 1st quarter. Virtu Financial LLC now owns 98,055 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 84,255 shares during the period. Institutional investors and hedge funds own 4.25% of the company’s stock.

About Ferrellgas Partners

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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