Ferrellgas Partners, L.P. (NYSE:FGP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Current rate of returns from the unit price of Ferrellgas Partners were significantly lower than that of the broader industry in the last 12 months. The loss of a major customer and milder temperatures at the start of the winter hampered Ferrellgas’ prospects. In addition, persistent pricing pressure in the commodity market resulted in project delays and cancellations, adversely impacting its long-term growth prospect. Estimates have been going down ahead of the partnership’s first-quarter fiscal 2017 earnings release. Ferrellgas Partners is working to drive growth through organic and inorganic strategies. The partnership is planning to lower its leverage ratio by trimming cash distribution. It is also focused on cost containment efforts, which are likely to partially offset the impact of erratic weather conditions.”

A number of other equities research analysts have also commented on the company. TheStreet lowered Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Royal Bank Of Canada lowered Ferrellgas Partners, L.P. from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $17.00 to $13.00 in a research report on Thursday, September 15th. Citigroup Inc. upgraded Ferrellgas Partners, L.P. from a “sell” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $8.00 in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. lowered Ferrellgas Partners, L.P. from a “neutral” rating to an “underweight” rating in a research report on Wednesday, September 28th. Finally, Piper Jaffray Cos. lowered Ferrellgas Partners, L.P. from a “neutral” rating to an “underweight” rating in a research report on Wednesday, September 28th. Eight research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus target price of $15.57.

Analyst Recommendations for Ferrellgas Partners, L.P. (NYSE:FGP)

Shares of Ferrellgas Partners, L.P. (NYSE:FGP) opened at 5.56 on Tuesday. The firm’s market cap is $540.17 million. Ferrellgas Partners, L.P. has a 12 month low of $5.54 and a 12 month high of $20.85. The company has a 50-day moving average price of $8.62 and a 200-day moving average price of $15.76.

Ferrellgas Partners, L.P. (NYSE:FGP) last issued its earnings results on Wednesday, September 28th. The company reported ($6.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by $6.26. The business earned $409.50 million during the quarter, compared to analyst estimates of $461.99 million. During the same period in the previous year, the firm posted ($0.64) earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts forecast that Ferrellgas Partners, L.P. will post $0.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 8th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 7.19%.

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In other news, Director Stephen M. Clifford purchased 4,000 shares of the business’s stock in a transaction on Thursday, October 6th. The shares were acquired at an average price of $10.84 per share, for a total transaction of $43,360.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at $75,880. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Starling purchased 10,300 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was purchased at an average price of $9.50 per share, for a total transaction of $97,850.00. Following the acquisition, the director now owns 8,640 shares of the company’s stock, valued at approximately $82,080. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently made changes to their positions in FGP. Cetera Advisors LLC raised its position in shares of Ferrellgas Partners, L.P. by 1.4% in the third quarter. Cetera Advisors LLC now owns 10,536 shares of the company’s stock valued at $124,000 after buying an additional 149 shares during the last quarter. UMB Bank N A MO raised its position in shares of Ferrellgas Partners, L.P. by 3.9% in the third quarter. UMB Bank N A MO now owns 10,735 shares of the company’s stock valued at $125,000 after buying an additional 400 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new position in shares of Ferrellgas Partners, L.P. during the third quarter valued at about $135,000. Sigma Planning Corp purchased a new position in shares of Ferrellgas Partners, L.P. during the third quarter valued at about $137,000. Finally, Nwam LLC purchased a new position in shares of Ferrellgas Partners, L.P. during the third quarter valued at about $142,000.

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. The Company’s segments include propane and related equipment sales, midstream operations-crude oil logistics, and corporate and other. The propane and related equipment sales segment consists of the distribution of propane and related equipment and supplies.

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