Raymond James Financial Reiterates Sell Rating for Ferrellgas Partners (FGP)

Raymond James Financial reaffirmed their sell rating on shares of Ferrellgas Partners (NYSE:FGP) in a research note published on Thursday.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Ferrellgas Partners from a hold rating to a buy rating and set a $5.75 price objective on the stock in a report on Monday, October 9th. Royal Bank Of Canada restated a hold rating and set a $6.00 price objective on shares of Ferrellgas Partners in a research report on Monday, October 30th. Finally, BidaskClub upgraded Ferrellgas Partners from a sell rating to a hold rating in a research report on Saturday, August 26th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company presently has a consensus rating of Sell and a consensus target price of $5.44.

Shares of Ferrellgas Partners (NYSE:FGP) opened at $4.36 on Thursday. The company has a debt-to-equity ratio of -2.28, a current ratio of 0.58 and a quick ratio of 0.41. Ferrellgas Partners has a 52 week low of $4.10 and a 52 week high of $8.83.

Ferrellgas Partners (NYSE:FGP) last released its quarterly earnings data on Thursday, December 7th. The oil and gas company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The firm had revenue of $454.70 million during the quarter, compared to analyst estimates of $431.30 million. Ferrellgas Partners’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.44) earnings per share. research analysts predict that Ferrellgas Partners will post 0.19 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.40 annualized dividend and a dividend yield of 9.17%. Ferrellgas Partners’s dividend payout ratio (DPR) is presently -66.67%.

In other Ferrellgas Partners news, VP Trenton D. Hampton bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was purchased at an average price of $4.98 per share, for a total transaction of $29,880.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FGP. PEAK6 Investments L.P. increased its holdings in Ferrellgas Partners by 283.5% during the 3rd quarter. PEAK6 Investments L.P. now owns 20,639 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 15,257 shares in the last quarter. KCG Holdings Inc. bought a new position in Ferrellgas Partners in the 1st quarter valued at $106,000. Alliancebernstein L.P. boosted its position in Ferrellgas Partners 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 buying an additional 5,257 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Ferrellgas Partners 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 worth $409,000 after purchasing an additional 2,162 shares during the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in shares of Ferrellgas Partners by 410.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 89,811 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 72,211 shares during the last quarter. 6.43% of the stock is owned by institutional investors and hedge funds.

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Ferrellgas Partners 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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