Ferrellgas Partners, L.P. (FGP) Shares Gap Up to $19.72
Ferrellgas Partners, L.P. (NYSE:FGP)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $19.69, but opened at $19.72. Ferrellgas Partners, L.P. shares last traded at $20.00, with a volume of 113,318 shares changing hands.
Several research firms recently commented on FGP. Zacks Investment Research cut Ferrellgas Partners, L.P. from a “hold” rating to a “strong sell” rating in a research report on Monday, June 13th. Royal Bank Of Canada began coverage on Ferrellgas Partners, L.P. in a research report on Monday, May 2nd. They set a “sector perform” rating and a $19.00 price objective on the stock. Finally, Bank of America Corp. cut Ferrellgas Partners, L.P. to a “sell” rating in a research report on Friday, June 10th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.50.
The stock’s market cap is $1.96 billion. The stock has a 50-day moving average of $19.24 and a 200 day moving average of $18.27.
Ferrellgas Partners, L.P. (NYSE:FGP) last issued its earnings results on Wednesday, June 8th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.29. The business earned $509.50 million during the quarter, compared to analyst estimates of $749.93 million. During the same period last year, the company earned $0.43 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts anticipate that Ferrellgas Partners, L.P. will post ($0.39) EPS for the current fiscal year.
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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