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Fly News Breaks for September 13, 2016
FGP
Sep 13, 2016 | 05:57 EDT
Citi analyst Faisel Khan downgraded Ferrellgas Partners LP to Sell saying attempts to diversify into non-propane midstream business lines has overstretched the partnership's balance sheet. The analyst has concerns regarding the equity due to Ferrellgas' high leverage and low coverage at the end of FY16. He sees the possibility of a distribution cut and dropped his price target for the shares to $14 from $15.50.
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