Zacks Investment Research upgraded shares of Ferrellgas Partners (NYSE:FGP) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, ” Ferrellgas Partners is working to drive growth through organic initiatives and acquisitions. The company also benefits from its strong propane distribution network and its focus to increase customer base will boost performance.Weather plays an important role in determining the propane sales volume and the partnership is taking strategic initiatives to make its sales less weather dependent. In last three months, loss in value of Ferrellgas Partners units were wider than industry’s decline. Ferrellgas Partners’ margins were impacted by rising costs of commodity price and increased operating expenses as the partnership focuses on increasing its market share.”
A number of other equities analysts also recently issued reports on FGP. ValuEngine downgraded Ferrellgas Partners from a sell rating to a strong sell rating in a research note on Thursday, March 1st. Citigroup downgraded Ferrellgas Partners from a buy rating to a neutral rating in a research report on Tuesday, January 9th. Raymond James Financial reiterated a sell rating on shares of Ferrellgas Partners in a research report on Thursday, December 7th. Finally, Royal Bank of Canada reiterated a hold rating and set a $5.00 target price on shares of Ferrellgas Partners in a research report on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Ferrellgas Partners has a consensus rating of Hold and an average target price of $5.19.
Ferrellgas Partners (NYSE:FGP) last released its quarterly earnings results on Thursday, March 8th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ 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. Ferrellgas Partners’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. sell-side analysts expect that Ferrellgas Partners will post 0.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 9th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.40 annualized dividend and a yield of 10.64%. Ferrellgas Partners’s dividend payout ratio (DPR) is presently -39.60%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FGP. SeaCrest Wealth Management LLC purchased a new position in Ferrellgas Partners during the fourth quarter valued at $763,000. GSA Capital Partners LLP lifted its position in Ferrellgas Partners by 86.3% during the third quarter. GSA Capital Partners LLP now owns 315,391 shares of the oil and gas company’s stock valued at $1,621,000 after purchasing an additional 146,127 shares in the last quarter. Deutsche Bank AG lifted its position in 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 valued at $452,000 after purchasing an additional 47,826 shares in the last quarter. Virtu Financial LLC purchased a new position in Ferrellgas Partners during the fourth quarter valued at $113,000. Finally, PEAK6 Investments L.P. lifted its position in Ferrellgas Partners by 283.5% during the third 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. Institutional investors own 5.66% of the company’s stock.
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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