Zacks Investment Research Upgrades Ferrellgas Partners, L.P. (FGP) to “Buy”

Zacks Investment Research upgraded shares of Ferrellgas Partners, L.P. (NYSE:FGP) from a hold rating to a buy rating in a report released on Monday morning. Zacks Investment Research currently has $5.75 target price on the oil and gas company’s stock.

According to Zacks, “In last three months, Ferrellgas Partners’ units have gained more than the industry it belongs to. The partnership is working to drive growth through organic initiatives and acquisitions. It is also focused on cost containment efforts, which are likely to partially offset the impact of erratic weather conditions. The company also benefits from its strong propane distribution network. The fiscal 2017 weather in Ferrellgas’ Partners service territories were 18% warmer than normal, which adversely impacted the financial performance. The persistent pricing pressure in the commodity market resulted in project delays and cancellations, adversely impacting partnership’s long-term growth prospects. Loss of a major customer account is also adversely impacting the performance of the partnership.”

FGP has been the topic of a number of other research reports. BidaskClub upgraded Ferrellgas Partners, L.P. from a sell rating to a hold rating in a research note on Saturday, August 26th. ValuEngine upgraded Ferrellgas Partners, L.P. from a strong sell rating to a sell rating in a research note on Friday, July 7th. Royal Bank Of Canada restated a hold rating and issued a $6.00 target price on shares of Ferrellgas Partners, L.P. in a research note on Wednesday, September 27th. Finally, UBS AG restated a sell rating and issued a $5.00 target price (down previously from $5.50) on shares of Ferrellgas Partners, L.P. in a research note on Monday, June 12th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $8.18.

Ferrellgas Partners, L.P. (FGP) opened at 5.00 on Monday. The stock has a 50 day moving average price of $5.11 and a 200 day moving average price of $5.21. Ferrellgas Partners, L.P. has a 1-year low of $4.22 and a 1-year high of $10.74. The company’s market cap is $485.76 million.

Ferrellgas Partners, L.P. (NYSE:FGP) last issued its earnings results on Thursday, September 28th. The oil and gas company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.09). The firm had revenue of $433.38 million during the quarter, compared to analysts’ expectations of $431.74 million. During the same quarter last year, the firm earned ($6.68) EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Ferrellgas Partners, L.P. will post $0.15 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, September 7th were paid a $0.10 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.00%. Ferrellgas Partners, L.P.’s payout ratio is -72.73%.

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Ferrellgas Partners, L.P. by 7.8% in the 2nd quarter. Royal Bank of Canada now owns 131,811 shares of the oil and gas company’s stock worth $604,000 after purchasing an additional 9,545 shares during the period. Virtu KCG Holdings LLC raised its holdings in Ferrellgas Partners, L.P. 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 period. GSA Capital Partners LLP raised its holdings in Ferrellgas Partners, L.P. by 28.8% in the 2nd quarter. GSA Capital Partners LLP now owns 169,264 shares of the oil and gas company’s stock worth $775,000 after purchasing an additional 37,864 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Ferrellgas Partners, L.P. by 1.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,570 shares of the oil and gas company’s stock worth $713,000 after purchasing an additional 1,873 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Ferrellgas Partners, L.P. 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 period. Hedge funds and other institutional investors own 6.91% of the company’s stock.

Ferrellgas Partners, L.P. 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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Analyst Recommendations for Ferrellgas Partners, L.P. (NYSE:FGP)

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