Ferrellgas Partners, L.P. (FGP) Sees Strong Trading Volume
Ferrellgas Partners, L.P. (NYSE:FGP) saw unusually-high trading volume on Friday . Approximately 293,577 shares were traded during 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.
FGP has been the subject of a number of research analyst reports. Bank of America Corp. downgraded shares of Ferrellgas Partners, L.P. to a “sell” rating in a report on Friday, June 10th. Zacks Investment Research upgraded shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Royal Bank Of Canada initiated coverage on shares of Ferrellgas Partners, L.P. in a report on Monday, May 2nd. They set a “sector perform” rating and a $19.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.50.
The firm’s market capitalization is $2.00 billion. The firm has a 50-day moving average price of $19.29 and a 200 day moving average price of $18.30.
Ferrellgas Partners, L.P. (NYSE:FGP) last announced its earnings results on Wednesday, June 8th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.29. The firm had revenue of $509.50 million for the quarter, compared to analysts’ expectations of $749.93 million. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. Equities research analysts expect 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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