UPDATE: UBS Downgrades Ferrellgas Partners LP (FGP) to Sell; Valuation Call

(Updated - August 22, 2012 10:57 AM EDT)

UBS downgraded Ferrellgas Partners LP (NYSE: FGP) from Neutral to Sell. PT $16.50.

Analyst, Ronald J. Barone, said, "FGP has significantly outperformed the peer propane MLPs and the broad market. YTD, FGP is up 14%, the S&P 500 is up 13%, and its peer group is down 17%. Suffering from one of the warmest winters on record, the propane MLPs plunged through late April. From May 1, 2012, FGP has climbed 40%, the S&P 500 is up 1%, and the peer group is down 2.4%. While FGP's yield 9.2% is above the peer avg yield of 7.7%, FGP has never increased its distribution since becoming public in 1994, while the peer group has increased its distribution at an avg CAGR rate of 5% since 2000."

For an analyst ratings summary and ratings history on Ferrellgas Partners LP click here. For more ratings news on Ferrellgas Partners LP click here.

Shares of Ferrellgas Partners LP closed at $21.76 yesterday.

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