Ferrellgas Partners, L.P. (FGP) Downgraded by TheStreet
FGP has been the subject of several other reports. Janney Montgomery Scott assumed coverage on 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. RBC Capital Markets reiterated an underperform rating and issued a $11.00 price objective (down from $13.00) on shares of Ferrellgas Partners, L.P. in a report on Friday, September 30th. Zacks Investment Research downgraded Ferrellgas Partners, L.P. from a hold rating to a strong sell rating in a report on Monday, June 13th. Simmons reiterated a neutral rating and issued a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a report on Monday, August 22nd. Finally, Citigroup Inc. downgraded Ferrellgas Partners, L.P. from a neutral rating to a sell rating and reduced their price objective for the stock from $15.50 to $14.00 in a report on Tuesday, September 13th. Eight equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Ferrellgas Partners, L.P. presently has a consensus rating of Sell and an average price target of $16.00.
Ferrellgas Partners, L.P. (NYSE:FGP) opened at 9.96 on Monday. The company has a 50 day moving average of $17.49 and a 200-day moving average of $18.33. The stock’s market capitalization is $967.63 million. Ferrellgas Partners, L.P. has a one year low of $9.12 and a one year high of $21.22.
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 the consensus estimate of ($0.42) by $6.26. The company earned $409.50 million during the quarter, compared to the consensus estimate of $461.99 million. During the same period last year, the firm earned ($0.64) EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research 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. Stockholders of record on Wednesday, September 7th were given a dividend of $0.5125 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $2.05 dividend on an annualized basis and a dividend yield of 20.58%.
In related news, Director David L. Starling acquired 10,300 shares of the stock in a transaction dated Tuesday, October 4th. The shares were purchased at an average cost of $9.50 per share, with a total value of $97,850.00. Following the transaction, the director now directly owns 8,640 shares in the company, valued at $82,080. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank N A MO boosted its position 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 worth $191,000 after buying an additional 300 shares during the last quarter. Alliancebernstein L.P. boosted its position 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 worth $211,000 after buying an additional 279 shares during the last quarter. Jag Capital Management LLC bought a new position in Ferrellgas Partners, L.P. during the second quarter worth $215,000. Stifel Financial Corp boosted its position 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 worth $233,000 after buying an additional 95 shares during the last quarter. Finally, Financial Advisory Service Inc. boosted its position 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 worth $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.
Receive News & Ratings for Ferrellgas Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrellgas Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.