A number of other equities analysts have also recently issued reports on the company. Janney Montgomery Scott assumed coverage on Ferrellgas Partners, L.P. in a report on Wednesday, August 24th. They issued a neutral rating and a $20.00 price objective for the company. Zacks Investment Research cut Ferrellgas Partners, L.P. from a hold rating to a strong sell rating in a report on Monday, June 13th. Simmons reiterated a neutral rating and issued a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a report on Monday, August 22nd. Citigroup Inc. cut Ferrellgas Partners, L.P. from a neutral rating to a sell rating and cut their price objective for the stock from $15.50 to $14.00 in a report on Tuesday, September 13th. Finally, RBC Capital Markets cut Ferrellgas Partners, L.P. from a sector perform rating to an underperform rating and cut their price objective for the stock from $17.00 to $13.00 in a report on Thursday, September 15th. Seven analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has a consensus rating of Sell and a consensus target price of $16.71.
Shares of Ferrellgas Partners, L.P. (NYSE:FGP) traded down 6.08% during trading on Wednesday, hitting $12.21. The stock had a trading volume of 778,101 shares. The firm has a 50-day moving average price of $18.75 and a 200 day moving average price of $18.54. The company’s market capitalization is $1.20 billion. Ferrellgas Partners, L.P. has a 52 week low of $12.06 and a 52 week high of $21.22.
Ferrellgas Partners, L.P. (NYSE:FGP) last posted its earnings results on Wednesday, September 28th. The company reported ($6.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $6.26. The company earned $409.50 million during the quarter, compared to analyst estimates of $461.99 million. During the same period last year, the firm posted ($0.64) EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Ferrellgas Partners, L.P. will post ($0.49) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th were issued a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a yield of 15.77%. The ex-dividend date was Friday, September 2nd.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FGP. UMB Bank N A MO raised its position in Ferrellgas Partners, L.P. by 3.0% in the second quarter. UMB Bank N A MO now owns 10,335 shares of the company’s stock worth $191,000 after buying an additional 300 shares during the last quarter. Alliancebernstein L.P. raised its position in Ferrellgas Partners, L.P. by 2.5% in the second quarter. Alliancebernstein L.P. now owns 11,419 shares of the company’s stock worth $211,000 after buying an additional 279 shares during the last quarter. Jag Capital Management LLC acquired a new position in Ferrellgas Partners, L.P. during the second quarter worth approximately $215,000. Stifel Financial Corp raised its position in Ferrellgas Partners, L.P. by 0.8% in the second quarter. Stifel Financial Corp now owns 12,603 shares of the company’s stock worth $233,000 after buying an additional 95 shares during the last quarter. Finally, Financial Advisory Service Inc. raised its position in Ferrellgas Partners, L.P. by 2.0% in the second quarter. Financial Advisory Service Inc. now owns 13,841 shares of the company’s stock worth $256,000 after buying an additional 271 shares during the last quarter.
About Ferrellgas Partners, L.P.
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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