Ferrellgas Partners, L.P. (FGPR)

Ferrellgas ($FGPR) is one of the largest distributors of propane in the United States. The company has historically operated as a master limited partnership (MLP), limiting its institutional shareholder base. The thesis highlights its potential corporate conversion to a C-Corp, which will simplify governance, eliminate K-1 tax forms, and allow index inclusion, driving significant multiple expansion.