Ferrellgas Partners, L.P. (NYSE:FGP) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.
A number of other research firms have also recently weighed in on FGP. Zacks Investment Research upgraded shares of Ferrellgas Partners, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. ValuEngine cut shares of Ferrellgas Partners, L.P. from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, UBS AG restated a “sell” rating and issued a $5.00 price target (down from $5.50) on shares of Ferrellgas Partners, L.P. in a report on Monday, June 12th. Seven 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 stock. Ferrellgas Partners, L.P. presently has an average rating of “Hold” and an average target price of $10.56.
Ferrellgas Partners, L.P. (NYSE FGP) traded up 3.75% during midday trading on Thursday, reaching $4.98. 152,571 shares of the company traded hands. The company has a 50 day moving average price of $4.58 and a 200-day moving average price of $5.73. The stock’s market capitalization is $483.82 million. Ferrellgas Partners, L.P. has a one year low of $4.22 and a one year high of $20.55.
Ferrellgas Partners, L.P. (NYSE:FGP) last released its quarterly earnings results on Friday, June 9th. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $538.10 million for the quarter, compared to analyst estimates of $576.92 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts forecast that Ferrellgas Partners, L.P. will post ($0.47) EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the company. KCG Holdings Inc. bought a new stake in Ferrellgas Partners, L.P. during the first quarter worth approximately $106,000. Alliancebernstein L.P. boosted its stake in shares of Ferrellgas Partners, L.P. by 40.6% in the first quarter. Alliancebernstein L.P. now owns 18,208 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 5,257 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Ferrellgas Partners, L.P. by 7.2% in the first quarter. Brookstone Capital Management now owns 23,885 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 1,600 shares during the last quarter. Nwam LLC boosted its stake in shares of Ferrellgas Partners, L.P. by 149.4% in the first quarter. Nwam LLC now owns 25,627 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 15,350 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Ferrellgas Partners, L.P. during the first quarter valued at approximately $166,000. Institutional investors own 7.03% of the company’s stock.
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. 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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