Ferrellgas Partners, L.P. (FGP) Trading 1.4% Higher
Ferrellgas Partners, L.P. (NYSE:FGP) shares traded up 1.4% on Tuesday . The company traded as high as $18.47 and last traded at $18.47, with a volume of 93,223 shares changing hands. The stock had previously closed at $18.22.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Ferrellgas Partners, L.P. from a “hold” rating to a “strong sell” rating in a research note on Monday, June 13th. Royal Bank Of Canada assumed coverage on shares of Ferrellgas Partners, L.P. in a research note on Monday, May 2nd. They issued a “sector perform” rating and a $19.00 price target on the stock. Bank of America Corp. lowered shares of Ferrellgas Partners, L.P. to a “sell” rating in a research note on Friday, June 10th. Finally, Janney Montgomery Scott assumed coverage on shares of Ferrellgas Partners, L.P. in a research note on Tuesday, March 22nd. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.50.
The firm’s market cap is $1.82 billion. The stock’s 50 day moving average price is $18.53 and its 200-day moving average price is $17.59.
Ferrellgas Partners, L.P. (NYSE:FGP) last released its quarterly earnings data on Wednesday, June 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.29. During the same period in the prior year, the company earned $0.43 earnings per share. The firm earned $509.50 million during the quarter, compared to the consensus estimate of $749.93 million. Ferrellgas Partners, L.P.’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts predict that Ferrellgas Partners, L.P. will post ($0.39) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Stockholders of record on Tuesday, June 7th were paid a $0.5125 dividend. This represents a $2.05 annualized dividend and a dividend yield of 11.06%. The ex-dividend date was Friday, June 3rd.
A number of hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its stake in Ferrellgas Partners, L.P. by 10.0% in the fourth quarter. California Public Employees Retirement System now owns 310,900 shares of the company’s stock worth $5,161,000 after buying an additional 28,300 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Ferrellgas Partners, L.P. during the fourth quarter worth $1,633,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Ferrellgas Partners, L.P. by 476.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,902 shares of the company’s stock worth $2,190,000 after buying an additional 109,021 shares in the last quarter.
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.