Short Interest in Ferrellgas Partners, L.P. (NYSE:FGP) Decreases By 7.4%

Ferrellgas Partners, L.P. (NYSE:FGP) was the target of a significant 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. Based on an average trading volume of 190,300 shares, the days-to-cover ratio is presently 7.4 days. Approximately 2.1% of the company’s shares are sold short.

Separately, ValuEngine upgraded shares of Ferrellgas Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

A number of institutional investors have recently added to or reduced their stakes in FGP. TAP Consulting LLC bought a new position in Ferrellgas Partners during the first quarter valued at approximately $30,000. Regal Investment Advisors LLC purchased a new position in Ferrellgas Partners during the 1st quarter worth $32,000. Camelot Portfolios LLC purchased a new position in Ferrellgas Partners during the 1st quarter worth $33,000. Prime Capital Investment Advisors LLC purchased a new position in Ferrellgas Partners during the 1st quarter worth $36,000. Finally, Barber Financial Group Inc. purchased a new position in shares of Ferrellgas Partners in the 1st quarter valued at $39,000. 4.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE FGP traded up $0.02 during trading hours on Thursday, hitting $0.69. 240,000 shares of the stock were exchanged, compared to its average volume of 278,830. Ferrellgas Partners has a one year low of $0.53 and a one year high of $3.61. The company’s 50 day moving average is $0.85 and its 200 day moving average is $1.15. The firm has a market capitalization of $66.06 million, a P/E ratio of -1.60 and a beta of 2.56.

Ferrellgas Partners (NYSE:FGP) last announced its earnings results on Monday, June 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $479.63 million for the quarter. On average, analysts anticipate that Ferrellgas Partners will post -0.52 EPS for the current year.

Ferrellgas Partners Company Profile

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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