Trade Report: The Stephen M. Clifford Acquires 4,000 Shares of Ferrellgas Partners, L.P. (FGP) Stock

The Stephen M. Clifford Acquires 4,000 Shares of Ferrellgas Partners, L.P. (FGP) Stock

Ferrellgas Partners, L.P. (NYSE:FGP) Director Stephen M. Clifford bought 4,000 shares of the stock in a transaction dated Thursday, October 6th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $75,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ferrellgas Partners, L.P. (NYSE:FGP) traded down 1.51% during trading on Friday, hitting $10.42. 841,254 shares of the stock traded hands. The company’s 50 day moving average price is $17.23 and its 200 day moving average price is $18.27. Ferrellgas Partners, L.P. has a 12 month low of $9.12 and a 12 month high of $21.13. The company’s market cap is $1.01 billion.

Ferrellgas Partners, L.P. (NYSE:FGP) last announced its earnings results on Wednesday, September 28th. The company reported ($6.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by $6.26. The company earned $409.50 million during the quarter, compared to the consensus estimate of $461.99 million. During the same period last year, the business earned ($0.64) EPS. Ferrellgas Partners, L.P.’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ferrellgas Partners, L.P. will post $0.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th were issued a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 19.67%. The ex-dividend date was Friday, September 2nd.

A number of institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its position in shares of Ferrellgas Partners, L.P. by 126.5% in the first quarter. UBS Group AG now owns 521,612 shares of the company’s stock worth $9,076,000 after buying an additional 291,288 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ferrellgas Partners, L.P. by 108.6% in the second quarter. JPMorgan Chase & Co. now owns 300,452 shares of the company’s stock worth $5,552,000 after buying an additional 156,397 shares during the period. BB&T Securities LLC purchased a new position in shares of Ferrellgas Partners, L.P. during the second quarter worth approximately $1,959,000. California Public Employees Retirement System boosted its position in shares of Ferrellgas Partners, L.P. by 20.2% in the second quarter. California Public Employees Retirement System now owns 354,900 shares of the company’s stock worth $6,559,000 after buying an additional 59,600 shares during the period. Finally, Global X Management Co. LLC boosted its position in shares of Ferrellgas Partners, L.P. by 11.4% in the second quarter. Global X Management Co. LLC now owns 335,752 shares of the company’s stock worth $6,205,000 after buying an additional 34,485 shares during the period.

A number of research firms recently weighed in on FGP. TheStreet lowered shares of Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Monday. RBC Capital Markets reaffirmed an “underperform” rating and issued a $11.00 price objective (down from $13.00) on shares of Ferrellgas Partners, L.P. in a research note on Friday, September 30th. Citigroup Inc. lowered their price objective on shares of Ferrellgas Partners, L.P. from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, September 29th. Royal Bank Of Canada lowered their price objective on shares of Ferrellgas Partners, L.P. from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Thursday, September 29th. Finally, JPMorgan Chase & Co. lowered shares of Ferrellgas Partners, L.P. from a “neutral” rating to an “underweight” rating in a research note on Wednesday, September 28th. Eight research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has an average rating of “Sell” and a consensus price target of $16.00.

About Ferrellgas Partners, L.P.

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