Ferrellgas Partners, L.P. (FGP) Sees Unusually-High Trading Volume
Ferrellgas Partners, L.P. (NYSE:FGP) saw unusually-strong trading volume on Friday . Approximately 293,577 shares changed hands during mid-day trading, an increase of 72% from the previous session’s volume of 170,347 shares.The stock last traded at $20.43 and had previously closed at $20.04.
A number of analysts recently commented on FGP shares. Bank of America Corp. lowered Ferrellgas Partners, L.P. to a “sell” rating in a research note on Friday, June 10th. Zacks Investment Research raised Ferrellgas Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Royal Bank Of Canada started coverage on Ferrellgas Partners, L.P. in a research report on Monday, May 2nd. They set a “sector perform” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Ferrellgas Partners, L.P. presently has a consensus rating of “Hold” and an average price target of $19.50.
The firm’s 50-day moving average is $19.29 and its 200 day moving average is $18.30. The company’s market capitalization is $2.00 billion.
Ferrellgas Partners, L.P. (NYSE:FGP) last released its earnings results on Wednesday, June 8th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ 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. During the same quarter in the prior year, the company posted $0.43 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Analysts anticipate that Ferrellgas Partners, L.P. will post ($0.39) EPS for the current fiscal year.
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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