Ferrellgas Partners, L.P. (FGP) Rating Reiterated by Royal Bank of Canada

Ferrellgas Partners, L.P. (NYSE:FGP)‘s stock had its “hold” rating reaffirmed by research analysts at Royal Bank of Canada in a note issued to investors on Friday. They presently have a $6.00 target price on the stock. Royal Bank of Canada’s price target suggests a potential downside of 3.23% from the stock’s current price.

A number of other analysts have also issued reports on FGP. Citigroup Inc raised Ferrellgas Partners, L.P. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.04 to $20.85 in a research note on Monday, December 5th. Simmons raised Ferrellgas Partners, L.P. from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $6.50 in a research note on Tuesday, December 6th. Zacks Investment Research lowered Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, February 2nd. Piper Jaffray Companies raised Ferrellgas Partners, L.P. from an “underweight” rating to a “neutral” rating in a research note on Monday, December 5th. They noted that the move was a valuation call. Finally, Bank of America Corp set a $5.00 price target on Ferrellgas Partners, L.P. and gave the stock a “sell” rating in a research note on Saturday, March 11th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Ferrellgas Partners, L.P. currently has a consensus rating of “Hold” and a consensus price target of $11.67.

Analyst Recommendations for Ferrellgas Partners, L.P. (NYSE:FGP)

Shares of Ferrellgas Partners, L.P. (NYSE:FGP) opened at 6.20 on Friday. The stock’s market cap is $602.34 million. The firm has a 50-day moving average price of $6.33 and a 200-day moving average price of $8.64. Ferrellgas Partners, L.P. has a 1-year low of $5.04 and a 1-year high of $20.85.

Ferrellgas Partners, L.P. (NYSE:FGP) last issued its quarterly earnings data on Thursday, March 9th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.67 by $0.28. The business earned $579.25 million during the quarter, compared to the consensus estimate of $654.13 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. Equities analysts forecast that Ferrellgas Partners, L.P. will post ($0.21) EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, March 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend was Wednesday, March 8th. Ferrellgas Partners, L.P.’s dividend payout ratio is presently -6.30%.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by Mideast Time and is the property of of Mideast Time. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.mideasttime.com/ferrellgas-partners-l-p-fgp-rating-reiterated-by-royal-bank-of-canada/1589945.html.

In other news, Director Pamela A. Breuckmann purchased 18,000 shares of the stock in a transaction dated Thursday, March 23rd. The shares were purchased at an average cost of $5.82 per share, with a total value of $104,760.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. UMB Bank N A MO raised its stake in shares of Ferrellgas Partners, L.P. by 3.9% in the third quarter. UMB Bank N A MO now owns 10,735 shares of the company’s stock worth $125,000 after buying an additional 400 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in shares of Ferrellgas Partners, L.P. during the third quarter worth about $135,000. Sigma Planning Corp purchased a new stake in shares of Ferrellgas Partners, L.P. during the third quarter worth about $137,000. Nwam LLC purchased a new stake in shares of Ferrellgas Partners, L.P. during the third quarter worth about $142,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Ferrellgas Partners, L.P. by 4.2% in the third quarter. Oppenheimer & Co. Inc. now owns 12,878 shares of the company’s stock worth $150,000 after buying an additional 518 shares in the last quarter. 7.21% of the stock is currently owned by hedge funds and other institutional investors.

Ferrellgas Partners, L.P. 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.

5 Day Chart for NYSE:FGP

Receive News & Ratings for Ferrellgas Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrellgas Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.