Ferrellgas Partners, L.P. (FGP) Trading 1.9% Higher
Ferrellgas Partners, L.P. (NYSE:FGP)’s share price traded up 1.9% during mid-day trading on Tuesday . The stock traded as high as $19.69 and last traded at $19.63, with a volume of 114,793 shares trading hands. The stock had previously closed at $19.26.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Ferrellgas Partners, L.P. from a “hold” rating to a “strong sell” rating in a report on Monday, June 13th. Bank of America Corp. downgraded shares of Ferrellgas Partners, L.P. to a “sell” rating in a report on Friday, June 10th. Finally, Royal Bank Of Canada started coverage on shares of Ferrellgas Partners, L.P. in a report on Monday, May 2nd. They issued a “sector perform” rating and a $19.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $19.50.
The stock’s 50 day moving average is $18.39 and its 200-day moving average is $17.94. The stock’s market capitalization is $1.94 billion.
Ferrellgas Partners, L.P. (NYSE:FGP) last issued its quarterly earnings data on Wednesday, June 8th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.48 by $0.29. The firm earned $509.50 million during the quarter, compared to analysts’ expectations of $749.93 million. The firm’s revenue 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) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Ferrellgas Partners, L.P. stock. California Public Employees Retirement System increased its stake in Ferrellgas Partners, L.P. (NYSE:FGP) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,900 shares of the company’s stock after buying an additional 28,300 shares during the period. California Public Employees Retirement System owned approximately 0.32% of Ferrellgas Partners, L.P. worth $5,161,000 as of its most recent SEC filing.
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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