Ferrellgas Partners, L.P. (FGP) Expected to Post Quarterly Sales of $621.28 Million

Brokerages forecast that Ferrellgas Partners, L.P. (NYSE:FGP) will report sales of $621.28 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ferrellgas Partners’ earnings. The lowest sales estimate is $609.32 million and the highest is $633.23 million. Ferrellgas Partners reported sales of $538.11 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.5%. The firm is expected to issue its next quarterly earnings results on Friday, June 8th.

According to Zacks, analysts expect that Ferrellgas Partners will report full year sales of $621.28 million for the current year, with estimates ranging from $2.29 billion to $2.31 billion. For the next financial year, analysts expect that the business will report sales of $2.41 billion per share, with estimates ranging from $2.23 billion to $2.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Ferrellgas Partners.

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Ferrellgas Partners (NYSE:FGP) last issued its quarterly earnings data on Thursday, March 8th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.12). The business had revenue of $755.16 million during the quarter, compared to the consensus estimate of $703.96 million. The business’s revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share.

Several equities analysts have issued reports on FGP shares. Zacks Investment Research raised Ferrellgas Partners from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Royal Bank of Canada reaffirmed a “hold” rating and set a $5.00 price objective on shares of Ferrellgas Partners in a report on Tuesday, January 16th. ValuEngine lowered Ferrellgas Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. UBS dropped their price objective on Ferrellgas Partners from $4.00 to $2.00 and set a “sell” rating on the stock in a report on Thursday, March 29th. Finally, Citigroup lowered Ferrellgas Partners from a “buy” rating to a “neutral” rating in a report on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $4.25.

Several hedge funds have recently modified their holdings of FGP. PEAK6 Investments L.P. grew its holdings in shares of 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 worth $106,000 after buying an additional 15,257 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ferrellgas Partners during the fourth quarter worth about $113,000. Deutsche Bank AG grew its holdings 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 buying an additional 47,826 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Ferrellgas Partners during the fourth quarter worth about $763,000. Finally, GSA Capital Partners LLP grew its holdings in shares of 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 worth $1,621,000 after buying an additional 146,127 shares during the last quarter. 5.58% of the stock is currently owned by institutional investors.

Shares of FGP stock traded down $0.18 during mid-day trading on Monday, hitting $3.05. 188,339 shares of the stock were exchanged, compared to its average volume of 331,620. The firm has a market cap of $313.80, a price-to-earnings ratio of -5.55 and a beta of 0.59. Ferrellgas Partners has a 12-month low of $2.87 and a 12-month high of $6.12. The company has a debt-to-equity ratio of -2.24, a quick ratio of 0.56 and a current ratio of 0.73.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 13.11%. The ex-dividend date was Thursday, March 8th. Ferrellgas Partners’s payout ratio is -72.73%.

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About Ferrellgas Partners

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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