Ferrellgas Partners, L.P. (FGP) Shares Down 2%
Ferrellgas Partners, L.P. (NYSE:FGP) traded down 2% during mid-day trading on Friday . The company traded as low as $19.23 and last traded at $19.45, with a volume of 156,331 shares traded. The stock had previously closed at $19.84.
A number of equities research analysts have recently issued reports on the stock. Janney Montgomery Scott assumed coverage on shares of Ferrellgas Partners, L.P. in a report on Wednesday, August 24th. They issued a “neutral” rating and a $20.00 price target on the stock. Simmons reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. Piper Jaffray Cos. assumed coverage on shares of Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. They issued a “neutral” rating on the stock. Zacks Investment Research raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Bank of America Corp. downgraded shares of Ferrellgas Partners, L.P. to a “sell” rating in a research note on Friday, June 10th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $19.67.
The company’s 50-day moving average price is $19.63 and its 200 day moving average price is $18.58. The firm’s market cap is $1.90 billion.
Ferrellgas Partners, L.P. (NYSE:FGP) last released its quarterly earnings results on Wednesday, June 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.29. The business earned $509.50 million during the quarter, compared to analyst estimates of $749.93 million. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. On average, equities analysts predict that Ferrellgas Partners, L.P. will post ($0.42) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.5125 per share. The ex-dividend date is Friday, September 2nd. This represents a $2.05 dividend on an annualized basis and a dividend yield of 10.57%.
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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