Ferrellgas Partners, L.P. (FGP) Stock Price Down 0.8%
Ferrellgas Partners, L.P. (NYSE:FGP)’s share price was down 0.8% during mid-day trading on Tuesday . The company traded as low as $20.16 and last traded at $20.26, with a volume of 98,552 shares. The stock had previously closed at $20.43.
A number of equities analysts have issued reports on FGP shares. Zacks Investment Research upgraded Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 9th. Bank of America Corp. downgraded Ferrellgas Partners, L.P. to a “sell” rating in a report on Friday, June 10th. Royal Bank Of Canada started coverage on Ferrellgas Partners, L.P. in a report on Monday, May 2nd. They issued a “sector perform” rating and a $19.00 price objective for the company. Piper Jaffray Cos. started coverage on Ferrellgas Partners, L.P. in a report on Monday. They issued a “neutral” rating for the company. Finally, Simmons reiterated a “neutral” rating and issued a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a report on Monday. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Ferrellgas Partners, L.P. has an average rating of “Hold” and an average price target of $19.60.
The firm’s 50-day moving average is $19.38 and its 200 day moving average is $18.41. The company’s market capitalization is $1.99 billion.
Ferrellgas Partners, L.P. (NYSE:FGP) last announced its quarterly earnings results on Wednesday, June 8th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.29. The firm earned $509.50 million during the quarter, compared to analyst estimates of $749.93 million. Ferrellgas Partners, L.P.’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. Analysts anticipate that Ferrellgas Partners, L.P. will post ($0.41) 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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