Ferrellgas Partners, L.P. (FGP) Trading Down 2%
Ferrellgas Partners, L.P. (NYSE:FGP)’s share price traded down 2% on Friday . The company traded as low as $19.23 and last traded at $19.45, with a volume of 156,331 shares. The stock had previously closed at $19.84.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Piper Jaffray Cos. assumed coverage on shares of Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. They set a “neutral” rating for the company. Bank of America Corp. downgraded shares of Ferrellgas Partners, L.P. to a “sell” rating in a research note on Friday, June 10th. Simmons restated a “neutral” rating and set a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. Finally, Janney Montgomery Scott assumed coverage on shares of Ferrellgas Partners, L.P. in a research note on Wednesday, August 24th. They set a “neutral” rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.67.
The stock’s 50 day moving average is $19.64 and its 200 day moving average is $18.58. The stock’s market capitalization is $1.90 billion.
Ferrellgas Partners, L.P. (NYSE:FGP) last announced its earnings results on Wednesday, June 8th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by $0.29. The company had revenue of $509.50 million for the quarter, compared to analyst estimates of $749.93 million. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Analysts predict that Ferrellgas Partners, L.P. will post ($0.42) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th will be paid a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 10.57%. The ex-dividend date is Friday, September 2nd.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.