Trade Report: Today, Ferrellgas Partners, L.P. (FGP) Lowered by The Zacks Investment Research to Strong Sell

Today, Ferrellgas Partners, L.P. (FGP) Lowered by The Zacks Investment Research to Strong Sell

Ferrellgas Partners, L.P. (NYSE:FGP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday.

According to Zacks, “Current rate of returns from the unit price of Ferrellgas Partners were significantly lower than that of the broader industry in the last 12 months. The loss of a major customer and milder temperatures at the start of the winter hampered Ferrellgas’ prospects. In addition, persistent pricing pressure in the commodity market resulted in project delays and cancellations, adversely impacting its long-term growth prospect. Estimates have been going down ahead of the partnership’s first-quarter fiscal 2017 earnings release. Ferrellgas Partners is working to drive growth through organic and inorganic strategies. The partnership is planning to lower its leverage ratio by trimming cash distribution. It is also focused on cost containment efforts, which are likely to partially offset the impact of erratic weather conditions.”

A number of other equities analysts have also weighed in on FGP. Citigroup Inc. raised Ferrellgas Partners, L.P. from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $8.00 in a research note on Wednesday, November 2nd. TheStreet lowered Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Monday, October 3rd. RBC Capital Markets reissued an “underperform” rating and set a $11.00 price objective (down previously from $13.00) on shares of Ferrellgas Partners, L.P. in a research note on Friday, September 30th. Royal Bank Of Canada lowered their price objective on Ferrellgas Partners, L.P. from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Thursday, September 29th. Finally, JPMorgan Chase & Co. lowered Ferrellgas Partners, L.P. from a “neutral” rating to an “underweight” rating in a research note on Wednesday, September 28th. Eight analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Ferrellgas Partners, L.P. presently has a consensus rating of “Sell” and a consensus price target of $15.57.

Shares of Ferrellgas Partners, L.P. (NYSE:FGP) opened at 6.25 on Tuesday. The firm has a 50-day moving average price of $8.76 and a 200-day moving average price of $15.86. The stock’s market cap is $607.20 million. Ferrellgas Partners, L.P. has a 1-year low of $6.05 and a 1-year high of $21.00.

Ferrellgas Partners, L.P. (NYSE:FGP) last posted its quarterly earnings data on Wednesday, September 28th. The company reported ($6.68) EPS 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 analyst estimates of $461.99 million. Ferrellgas Partners, L.P.’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.64) EPS. Equities analysts forecast that Ferrellgas Partners, L.P. will post $0.15 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 8th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Tuesday, December 6th.

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

A number of large investors have recently modified their holdings of FGP. 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 period. Cetera Advisors LLC increased its stake in shares of Ferrellgas Partners, L.P. by 1.4% in the third quarter. Cetera Advisors LLC now owns 10,536 shares of the company’s stock valued at $124,000 after buying an additional 149 shares during the period. Financial Advisory Service Inc. increased its stake in shares of Ferrellgas Partners, L.P. by 2.0% in the third quarter. Financial Advisory Service Inc. now owns 14,111 shares of the company’s stock valued at $164,000 after buying an additional 270 shares during the period. 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 period. Finally, 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 period.

About Ferrellgas Partners, L.P.

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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