-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SOGhku1TSRqEISycKWEhNXNg+WU3bMKELACQmLsuuSYg8xU3GwP6lmpGegsBO6f/
 nRagT4lOOOeOqp3vdmWXWQ==

<SEC-DOCUMENT>0000922358-04-000039.txt : 20040422
<SEC-HEADER>0000922358-04-000039.hdr.sgml : 20040422
<ACCEPTANCE-DATETIME>20040422162830
ACCESSION NUMBER:		0000922358-04-000039
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040421
FILED AS OF DATE:		20040422

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FERRELL JAMES E
		CENTRAL INDEX KEY:			0001222835

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11331
		FILM NUMBER:		04748501

	MAIL ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		CITY:			LIBERTY
		STATE:			MO
		ZIP:			64068

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FERRELLGAS PARTNERS L P
		CENTRAL INDEX KEY:			0000922358
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS RETAIL [5900]
		IRS NUMBER:				431698480
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	BUSINESS ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		CITY:			LIBERTY
		STATE:			MO
		ZIP:			64068
		BUSINESS PHONE:		8167921600

	MAIL ADDRESS:	
		STREET 1:		0NE LIBERTY PLAZA
		CITY:			LIBERTY
		STATE:			MO
		ZIP:			64068
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ferrellform4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-04-21</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000922358</issuerCik>
        <issuerName>FERRELLGAS PARTNERS L P</issuerName>
        <issuerTradingSymbol>FGP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001222835</rptOwnerCik>
            <rptOwnerName>FERRELL JAMES E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE LIBERTY PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LIBERTY</rptOwnerCity>
            <rptOwnerState>MO</rptOwnerState>
            <rptOwnerZipCode>64068</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO/Pres/Chairman</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Unit</value>
            </securityTitle>
            <transactionDate>
                <value>2004-04-21</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-04-21</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>79560</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.35</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>94560</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Unit</value>
            </securityTitle>
            <transactionDate>
                <value>2004-04-21</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-04-21</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>180000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.90</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>274560</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Unit</value>
            </securityTitle>
            <transactionDate>
                <value>2004-04-21</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-04-21</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4616</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.40</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>279176</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Common Unit Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>17.90</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-04-21</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2004-04-21</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>180000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.90</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2002-04-19</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2011-04-19</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Unit</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>180000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>120000</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These common units were purchased by Ferrell Resources Holdings, Inc., which is wholly-owned by the James E. Ferrell Revocable Trust.</footnote>
        <footnote id="F2">These options granted under the Ferrellgas Unit Option Plan vest ratably over a five-year period following the date of grant (4/19/01).</footnote>
        <footnote id="F3">Number of Derivatives Securities Beneficially Owned Following Reported Transactions consists of: 120,000 options with exercise price of $17.90, which will vest ratably in April 2005 and April 2006.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>James E. Ferrell</signatureName>
        <signatureDate>2004-04-22</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----