Shares of Ferrellgas Partners, L.P. (NYSE:FGP) have received a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.50.
Several research firms recently issued reports on FGP. Zacks Investment Research upgraded Ferrellgas Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 8th. ValuEngine upgraded Ferrellgas Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, UBS cut their target price on Ferrellgas Partners from $4.00 to $2.00 and set a “sell” rating for the company in a research report on Thursday, March 29th.
Several large investors have recently added to or reduced their stakes in FGP. SeaCrest Wealth Management LLC purchased a new stake in shares of Ferrellgas Partners during the fourth quarter worth about $763,000. Virtu Financial LLC purchased a new stake in shares of Ferrellgas Partners during the fourth quarter worth about $113,000. Deutsche Bank AG grew its position in shares of 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 worth $452,000 after purchasing an additional 47,826 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Ferrellgas Partners by 192.0% during the first quarter. Wells Fargo & Company MN now owns 47,415 shares of the oil and gas company’s stock worth $149,000 after purchasing an additional 31,175 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Ferrellgas Partners during the first quarter worth about $281,000. Hedge funds and other institutional investors own 6.46% of the company’s stock.
Ferrellgas Partners (NYSE:FGP) last posted its quarterly earnings data on Thursday, March 8th. The oil and gas company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.12). The firm had revenue of $755.16 million during the quarter, compared to analysts’ expectations of $703.96 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. research analysts anticipate that Ferrellgas Partners will post -0.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, June 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 10.72%. The ex-dividend date of this dividend is Wednesday, June 6th. Ferrellgas Partners’s dividend payout ratio is currently -72.73%.
Ferrellgas Partners Company Profile
Ferrellgas Partners, L.P. distributes and sells propane and related equipment and supplies primarily in the United States. It operates in two segments, Propane Operations and Related Equipment Sales, and Midstream Operations. The company transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers.
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