Sowell Financial Services LLC bought a new stake in Ferrellgas Partners, L.P. (NYSE:FGP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 94,270 shares of the oil and gas company’s stock, valued at approximately $208,000. Sowell Financial Services LLC owned about 0.10% of Ferrellgas Partners as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of Ferrellgas Partners by 5,831.6% in the second quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 29,158 shares during the period. First Republic Investment Management Inc. bought a new stake in shares of Ferrellgas Partners in the second quarter valued at approximately $118,000. Arrow Investment Advisors LLC bought a new stake in shares of Ferrellgas Partners in the second quarter valued at approximately $516,000. Prescott Group Capital Management L.L.C. raised its position in shares of Ferrellgas Partners by 21.8% in the third quarter. Prescott Group Capital Management L.L.C. now owns 300,665 shares of the oil and gas company’s stock valued at $664,000 after purchasing an additional 53,794 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Ferrellgas Partners by 8.8% in the second quarter. California Public Employees Retirement System now owns 232,890 shares of the oil and gas company’s stock valued at $783,000 after purchasing an additional 18,890 shares during the period. Hedge funds and other institutional investors own 4.99% of the company’s stock.
NYSE FGP opened at $0.96 on Tuesday. The company has a market capitalization of $112.70 million, a PE ratio of -2.23 and a beta of 0.88. Ferrellgas Partners, L.P. has a 12-month low of $0.88 and a 12-month high of $4.69.
Several research firms have recently issued reports on FGP. Zacks Investment Research raised shares of Ferrellgas Partners from a “strong sell” rating to a “hold” rating in a research report on Monday. ValuEngine lowered shares of Ferrellgas Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Ferrellgas Partners presently has an average rating of “Hold” and a consensus target price of $3.50.
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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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