Ferrellgas Partners, L.P.’s (FGP) “Underperform” Rating Reiterated at RBC Capital Markets
Ferrellgas Partners, L.P. (NYSE:FGP)‘s stock had its “underperform” rating reiterated by investment analysts at RBC Capital Markets in a research report issued to clients and investors on Friday. They currently have a $11.00 price target on the stock, down from their previous price target of $13.00. RBC Capital Markets’ price target would indicate a potential downside of 5.50% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 9th. Janney Montgomery Scott initiated 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 objective for the company. Simmons reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a report on Monday, August 22nd. Piper Jaffray Cos. initiated coverage on shares of Ferrellgas Partners, L.P. in a report on Monday, August 22nd. They issued a “neutral” rating for the company. Finally, Citigroup Inc. downgraded shares of Ferrellgas Partners, L.P. from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $15.50 to $14.00 in a report on Tuesday, September 13th. Seven investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has an average rating of “Sell” and an average target price of $16.00.
Shares of Ferrellgas Partners, L.P. (NYSE:FGP) traded down 1.10% during trading on Friday, hitting $11.64. 2,157,874 shares of the stock were exchanged. The stock’s market cap is $1.14 billion. Ferrellgas Partners, L.P. has a 12-month low of $11.27 and a 12-month high of $21.22. The stock has a 50-day moving average of $18.53 and a 200 day moving average of $18.49.
Ferrellgas Partners, L.P. (NYSE:FGP) last released its quarterly earnings data on Wednesday, September 28th. The company reported ($6.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by $6.26. The business had revenue of $409.50 million for the quarter, compared to analysts’ expectations of $461.99 million. Ferrellgas Partners, L.P.’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.64) earnings per share. Equities analysts predict that Ferrellgas Partners, L.P. will post $0.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th were issued a $0.5125 dividend. This represents a $2.05 annualized dividend and a yield of 17.61%. The ex-dividend date of this dividend was Friday, September 2nd.
A number of large investors have recently bought and sold shares of the company. UMB Bank N A MO increased its stake in Ferrellgas Partners, L.P. by 3.0% in the second quarter. UMB Bank N A MO now owns 10,335 shares of the company’s stock valued at $191,000 after buying an additional 300 shares during the last quarter. Alliancebernstein L.P. increased its stake in Ferrellgas Partners, L.P. by 2.5% in the second quarter. Alliancebernstein L.P. now owns 11,419 shares of the company’s stock valued at $211,000 after buying an additional 279 shares during the last quarter. Jag Capital Management LLC bought a new stake in Ferrellgas Partners, L.P. during the second quarter valued at $215,000. Stifel Financial Corp increased its stake in Ferrellgas Partners, L.P. by 0.8% in the second quarter. Stifel Financial Corp now owns 12,603 shares of the company’s stock valued at $233,000 after buying an additional 95 shares during the last quarter. Finally, Financial Advisory Service Inc. increased its stake in Ferrellgas Partners, L.P. by 2.0% in the second quarter. Financial Advisory Service Inc. now owns 13,841 shares of the company’s stock valued at $256,000 after buying an additional 271 shares during the last quarter.
Ferrellgas Partners, L.P. Company Profile
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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