Zacks Investment Research lowered shares of Ferrellgas Partners, L.P. (NYSE:FGP) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “In last three months, Ferrellgas Partners’ units have gained more than the industry it belongs to. The partnership is working to drive growth through organic initiatives and acquisitions. It is also focused on cost containment efforts, which are likely to partially offset the impact of erratic weather conditions. The company also benefits from its strong propane distribution network. The fiscal 2017 weather in Ferrellgas’ Partners service territories were 18% warmer than normal, which adversely impacted the financial performance. The persistent pricing pressure in the commodity market resulted in project delays and cancellations, adversely impacting partnership’s long-term growth prospects. Loss of a major customer account is also adversely impacting the performance of the partnership.”
Other equities research analysts have also recently issued research reports about the stock. UBS AG reaffirmed a sell rating and set a $5.00 price objective (down previously from $5.50) on shares of Ferrellgas Partners, L.P. in a research note on Monday, June 12th. Royal Bank Of Canada reaffirmed a hold rating and set a $6.00 price objective on shares of Ferrellgas Partners, L.P. in a research note on Wednesday, September 27th. BidaskClub raised shares of Ferrellgas Partners, L.P. from a strong sell rating to a sell rating in a research note on Thursday, August 10th. Finally, ValuEngine raised shares of Ferrellgas Partners, L.P. from a strong sell rating to a sell rating in a research note on Friday, July 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $8.67.
Ferrellgas Partners, L.P. (FGP) opened at 5.06 on Friday. The firm’s market cap is $491.59 million. The stock’s 50 day moving average is $5.05 and its 200 day moving average is $5.24. Ferrellgas Partners, L.P. has a one year low of $4.22 and a one year high of $10.98.
Ferrellgas Partners, L.P. (NYSE:FGP) last issued its quarterly earnings data on Thursday, September 28th. The oil and gas company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.09). The firm had revenue of $433.38 million for the quarter, compared to analyst estimates of $431.74 million. Ferrellgas Partners, L.P.’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned ($6.68) earnings per share. On average, analysts predict that Ferrellgas Partners, L.P. will post $0.15 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, September 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.40 dividend on an annualized basis and a yield of 7.91%. Ferrellgas Partners, L.P.’s dividend payout ratio is currently -72.73%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Ferrellgas Partners, L.P. by 1.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,570 shares of the oil and gas company’s stock valued at $713,000 after acquiring an additional 1,873 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Ferrellgas Partners, L.P. by 2.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 89,372 shares of the oil and gas company’s stock valued at $409,000 after acquiring an additional 2,162 shares during the period. Alliancebernstein L.P. grew its stake in Ferrellgas Partners, L.P. by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 18,208 shares of the oil and gas company’s stock valued at $109,000 after acquiring an additional 5,257 shares during the period. Royal Bank of Canada grew its stake in Ferrellgas Partners, L.P. by 7.8% in the 2nd quarter. Royal Bank of Canada now owns 131,811 shares of the oil and gas company’s stock valued at $604,000 after acquiring an additional 9,545 shares during the period. Finally, KCG Holdings Inc. acquired a new stake in Ferrellgas Partners, L.P. in the 1st quarter valued at $106,000. 6.91% 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.
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