Ferrellgas Partners (FGP) Downgraded to Strong Sell at ValuEngine
ValuEngine cut shares of Ferrellgas Partners (NYSE:FGP) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.
A number of other brokerages have also commented on FGP. Zacks Investment Research lowered shares of Ferrellgas Partners from a buy rating to a hold rating in a research report on Monday, December 4th. Citigroup lowered shares of Ferrellgas Partners from a buy rating to a neutral rating in a research report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a hold rating and set a $5.00 target price on shares of Ferrellgas Partners in a research report on Tuesday, January 16th. Finally, Raymond James Financial reaffirmed a sell rating on shares of Ferrellgas Partners in a research report on Thursday, December 7th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has an average rating of Sell and a consensus price target of $5.19.
Shares of Ferrellgas Partners (NYSE:FGP) traded down $0.04 during trading hours on Thursday, hitting $3.90. 179,221 shares of the stock were exchanged, compared to its average volume of 205,542. The stock has a market capitalization of $378.90, a price-to-earnings ratio of -6.50 and a beta of 0.44. Ferrellgas Partners has a fifty-two week low of $3.80 and a fifty-two week high of $6.67. The company has a current ratio of 0.58, a quick ratio of 0.41 and a debt-to-equity ratio of -2.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 9th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 10.26%. The ex-dividend date of this dividend is Thursday, March 8th. Ferrellgas Partners’s payout ratio is -66.67%.
A number of hedge funds have recently modified their holdings of FGP. PEAK6 Investments L.P. increased its holdings in Ferrellgas Partners by 283.5% during the third quarter. PEAK6 Investments L.P. now owns 20,639 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 15,257 shares during the period. Virtu Financial LLC purchased a new position in Ferrellgas Partners during the fourth quarter valued at approximately $113,000. Deutsche Bank AG increased its holdings in Ferrellgas Partners by 82.5% during the fourth quarter. Deutsche Bank AG now owns 105,801 shares of the oil and gas company’s stock valued at $452,000 after buying an additional 47,826 shares during the period. Royal Bank of Canada increased its holdings in Ferrellgas Partners by 7.8% during the second quarter. Royal Bank of Canada now owns 131,811 shares of the oil and gas company’s stock valued at $604,000 after buying an additional 9,545 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new position in Ferrellgas Partners during the fourth quarter valued at approximately $763,000. 6.01% of the stock is currently owned by institutional investors.
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Ferrellgas Partners Company Profile
Ferrellgas Partners, L.P. is engaged in the retail distribution of propane and related equipment sales, and midstream operations, which include crude oil logistics. The Company’s segments include propane and related equipment sales, midstream operations-crude oil logistics, and corporate and other. The propane and related equipment sales segment consists of the distribution of propane and related equipment and supplies.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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