Ferrellgas Partners, L.P. (NYSE:FGP) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,400,700 shares, a decline of 7.4% from the June 30th total of 1,513,400 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 190,300 shares, the days-to-cover ratio is presently 7.4 days.
Separately, ValuEngine raised Ferrellgas Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.
A number of hedge funds have recently bought and sold shares of FGP. Morgan Stanley raised its holdings in Ferrellgas Partners by 35.4% in the 2nd quarter. Morgan Stanley now owns 987,137 shares of the oil and gas company’s stock worth $943,000 after acquiring an additional 257,906 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Ferrellgas Partners by 8,924.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 64,252 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 63,540 shares during the last quarter. Creative Planning raised its holdings in Ferrellgas Partners by 104.3% in the 2nd quarter. Creative Planning now owns 56,005 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 28,586 shares during the last quarter. Nicolet Advisory Services LLC purchased a new position in Ferrellgas Partners in the 1st quarter worth approximately $39,000. Finally, Regal Investment Advisors LLC purchased a new position in Ferrellgas Partners in the 1st quarter worth approximately $32,000. 4.29% of the stock is currently owned by institutional investors and hedge funds.
FGP stock traded up $0.04 during trading on Friday, reaching $0.73. 122,695 shares of the stock were exchanged, compared to its average volume of 277,864. The firm’s 50 day moving average is $0.85 and its 200 day moving average is $1.15. 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 $70.92 million, a P/E ratio of -1.70 and a beta of 2.56.
Ferrellgas Partners (NYSE:FGP) last posted its quarterly earnings results on Monday, June 10th. The oil and gas company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $479.63 million for the quarter. As a group, sell-side analysts predict that Ferrellgas Partners will post -0.52 EPS for the current year.
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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