Ferrellgas Partners, L.P.’s (FGP) Hold Rating Reiterated at Royal Bank Of Canada

Ferrellgas Partners, L.P. (NYSE:FGP)‘s stock had its “hold” rating reiterated by analysts at Royal Bank Of Canada in a report issued on Monday, October 30th. They currently have a $6.00 target price on the oil and gas company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 28.21% from the stock’s current price.

Several other analysts have also recently weighed in on FGP. ValuEngine raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Friday, July 7th. Zacks Investment Research cut shares of Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, BidaskClub raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $8.18.

Shares of Ferrellgas Partners, L.P. (NYSE FGP) traded down $0.05 on Monday, hitting $4.68. 270,000 shares of the stock were exchanged, compared to its average volume of 402,710. The company has a debt-to-equity ratio of -2.63, a current ratio of 0.87 and a quick ratio of 0.60. Ferrellgas Partners, L.P. has a 1-year low of $4.22 and a 1-year high of $8.83.

Ferrellgas Partners, L.P. (NYSE:FGP) last posted its earnings results on Thursday, September 28th. The oil and gas company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.09). The company had revenue of $433.38 million for the quarter, compared to analyst estimates of $431.74 million. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($6.68) earnings per share. equities analysts predict that Ferrellgas Partners, L.P. will post 0.19 EPS for the current year.

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In related news, VP Trenton D. Hampton acquired 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were acquired at an average cost of $4.98 per share, for a total transaction of $29,880.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prescott Group Capital Management L.L.C. grew its position in shares of Ferrellgas Partners, L.P. by 125.9% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 792,334 shares of the oil and gas company’s stock valued at $3,629,000 after acquiring an additional 441,511 shares during the period. Morgan Stanley grew its position in shares of Ferrellgas Partners, L.P. by 13.2% in the 1st quarter. Morgan Stanley now owns 346,912 shares of the oil and gas company’s stock valued at $2,082,000 after acquiring an additional 40,533 shares during the period. Bank of America Corp DE grew its position in shares of Ferrellgas Partners, L.P. by 38.6% in the 1st quarter. Bank of America Corp DE now owns 170,559 shares of the oil and gas company’s stock valued at $1,024,000 after acquiring an additional 47,533 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Ferrellgas Partners, L.P. by 28.8% during the 2nd quarter. GSA Capital Partners LLP now owns 169,264 shares of the oil and gas company’s stock worth $775,000 after buying an additional 37,864 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Ferrellgas Partners, L.P. by 1.2% during 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 buying an additional 1,873 shares during the last quarter. 6.96% of the stock is owned by institutional investors.

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.

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

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