Today: The Ferrellgas Partners, L.P. (FGP) Receives $14.67 Average Target Price from Brokerages

The Ferrellgas Partners, L.P. (FGP) Receives $14.67 Average Target Price from Brokerages

Ferrellgas Partners, L.P. (NYSE:FGP) has earned an average rating of “Sell” from the eleven brokerages that are presently covering the company. Eight equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.67.

FGP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Janney Montgomery Scott initiated coverage on Ferrellgas Partners, L.P. in a research report on Wednesday, August 24th. They set a “neutral” rating and a $20.00 price objective for the company. Simmons restated a “neutral” rating and set a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a research report on Monday, August 22nd. Piper Jaffray Cos. initiated coverage on Ferrellgas Partners, L.P. in a research report on Monday, August 22nd. They set a “neutral” rating for the company. Finally, Citigroup Inc. lowered Ferrellgas Partners, L.P. from a “neutral” rating to a “sell” rating and cut their price objective for the company from $15.50 to $14.00 in a research report on Tuesday, September 13th.

Ferrellgas Partners, L.P. (NYSE:FGP) opened at 10.58 on Thursday. The stock’s market cap is $1.03 billion. Ferrellgas Partners, L.P. has a one year low of $9.12 and a one year high of $21.00. The company’s 50-day moving average price is $15.28 and its 200-day moving average price is $17.95.

Ferrellgas Partners, L.P. (NYSE:FGP) last issued its quarterly earnings data on Wednesday, September 28th. The company reported ($6.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by $6.26. The firm earned $409.50 million during the quarter, compared to analysts’ expectations of $461.99 million. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted ($0.64) EPS. Analysts forecast that Ferrellgas Partners, L.P. will post $0.26 EPS for the current fiscal year.

In other news, Director Stephen M. Clifford acquired 4,000 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was acquired at an average price of $10.84 per share, with a total value of $43,360.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $75,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David L. Starling acquired 10,300 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was purchased at an average cost of $9.50 per share, with a total value of $97,850.00. Following the purchase, the director now owns 8,640 shares of the company’s stock, valued at $82,080. The disclosure for this purchase can be found here.

Hedge funds have recently made changes to their positions in the company. Stock Yards Bank & Trust Co. purchased a new stake in shares of Ferrellgas Partners, L.P. during the third quarter valued at about $135,000. UMB Bank N A MO increased its stake in shares of Ferrellgas Partners, L.P. by 3.0% in the second quarter. UMB Bank N A MO now owns 10,335 shares of the company’s stock valued at $191,000 after buying an additional 300 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Ferrellgas Partners, L.P. by 2.5% in the second quarter. Alliancebernstein L.P. now owns 11,419 shares of the company’s stock valued at $211,000 after buying an additional 279 shares during the last quarter. Jag Capital Management LLC purchased a new stake in shares of Ferrellgas Partners, L.P. during the second quarter valued at about $215,000. Finally, Stifel Financial Corp increased its stake in shares of Ferrellgas Partners, L.P. by 0.8% in the second quarter. Stifel Financial Corp now owns 12,603 shares of the company’s stock valued at $233,000 after buying an additional 95 shares during the last quarter.

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