Ferrellgas Partners, L.P. (FGP) Stock Price Down 1.5%
Shares of Ferrellgas Partners, L.P. (NYSE:FGP) were down 1.5% during mid-day trading on Monday . The stock traded as low as $18.80 and last traded at $18.86, with a volume of 175,235 shares traded. The stock had previously closed at $19.15.
Several analysts have issued reports on FGP shares. Bank of America Corp. lowered shares of Ferrellgas Partners, L.P. to a “sell” rating in a research report on Friday, June 10th. Royal Bank Of Canada started coverage on shares of Ferrellgas Partners, L.P. in a research report on Monday, May 2nd. They set a “sector perform” rating and a $19.00 price target on the stock. Janney Montgomery Scott started coverage on shares of Ferrellgas Partners, L.P. in a research report on Tuesday, March 22nd. They set a “neutral” rating on the stock. Finally, Zacks Investment Research lowered shares of Ferrellgas Partners, L.P. from a “hold” rating to a “strong sell” rating in a research report on Monday, June 13th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $19.50.
The company’s market cap is $1.83 billion. The company’s 50-day moving average is $18.44 and its 200-day moving average is $17.63.
Ferrellgas Partners, L.P. (NYSE:FGP) last released its quarterly earnings data on Wednesday, June 8th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by $0.29. The firm earned $509.50 million during the quarter, compared to analysts’ expectations of $749.93 million. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Analysts predict that Ferrellgas Partners, L.P. will post ($0.39) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 14th. Investors of record on Tuesday, June 7th were paid a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 10.96%. The ex-dividend date of this dividend was Friday, June 3rd.
A number of hedge funds have made changes to their positions in FGP. Penserra Capital Management LLC acquired a new stake in shares of Ferrellgas Partners, L.P. during the fourth quarter worth approximately $1,633,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Ferrellgas Partners, L.P. by 476.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,902 shares of the company’s stock worth $2,190,000 after buying an additional 109,021 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Ferrellgas Partners, L.P. by 10.0% in the fourth quarter. California Public Employees Retirement System now owns 310,900 shares of the company’s stock worth $5,161,000 after buying an additional 28,300 shares during the last quarter.
Ferrellgas Partners, L.P. is engaged in the retail distribution of propane and related equipment sales, and midstream operations, which include crude oil logistics segment and water solutions segment. The Company’s two direct subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership.
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