Ferrellgas Partners, L.P. (FGP) Trading Up 1.9%
Ferrellgas Partners, L.P. (NYSE:FGP)’s share price was up 1.9% on Tuesday . The company traded as high as $19.69 and last traded at $19.63, with a volume of 114,793 shares. The stock had previously closed at $19.26.
A number of equities analysts have recently weighed in on FGP shares. Royal Bank Of Canada started coverage on Ferrellgas Partners, L.P. in a report on Monday, May 2nd. They set a “sector perform” rating and a $19.00 price target for the company. Zacks Investment Research upgraded Ferrellgas Partners, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Bank of America Corp. cut Ferrellgas Partners, L.P. to a “sell” rating in a report on Friday, June 10th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Ferrellgas Partners, L.P. currently has an average rating of “Hold” and a consensus target price of $19.50.
The company’s 50-day moving average price is $18.56 and its 200 day moving average price is $17.98. The stock’s market capitalization is $1.92 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 for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.29. The firm earned $509.50 million during the quarter, compared to the consensus estimate of $749.93 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that Ferrellgas Partners, L.P. will post ($0.39) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Ferrellgas Partners, L.P. stock. California Public Employees Retirement System increased its position in Ferrellgas Partners, L.P. (NYSE:FGP) by 10.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 310,900 shares of the company’s stock after buying an additional 28,300 shares during the period. California Public Employees Retirement System owned about 0.32% of Ferrellgas Partners, L.P. worth $5,161,000 as of its most recent SEC filing.
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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