Ferrellgas Partners (FGP) Bonds Rise 1.5% During Trading

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An issue of Ferrellgas Partners, L.P. (NYSE:FGP) debt rose 1.5% against its face value during trading on Thursday. The high-yield debt issue has a 6.75% coupon and is set to mature on January 15, 2022. The debt is now trading at $88.50 and was trading at $86.00 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Ferrellgas Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine raised shares of Ferrellgas Partners from a “hold” rating to a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.50.

NYSE:FGP traded up $0.01 during mid-day trading on Friday, reaching $2.01. 845,444 shares of the company were exchanged, compared to its average volume of 286,835. Ferrellgas Partners, L.P. has a 12 month low of $1.63 and a 12 month high of $5.07. The company has a quick ratio of 1.00, a current ratio of 1.30 and a debt-to-equity ratio of -2.01. The firm has a market cap of $214.71 million, a P/E ratio of -4.67 and a beta of 0.65.

Ferrellgas Partners (NYSE:FGP) last issued its quarterly earnings data on Thursday, September 27th. The oil and gas company reported ($2.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($1.79). The business had revenue of $347.52 million for the quarter, compared to analysts’ expectations of $365.36 million. As a group, equities analysts predict that Ferrellgas Partners, L.P. will post 0.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, September 7th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 19.90%. The ex-dividend date was Thursday, September 6th. Ferrellgas Partners’s dividend payout ratio is currently -93.02%.

A number of large investors have recently modified their holdings of the business. California Public Employees Retirement System lifted its position in Ferrellgas Partners by 8.8% during the 2nd quarter. California Public Employees Retirement System now owns 232,890 shares of the oil and gas company’s stock valued at $783,000 after purchasing an additional 18,890 shares during the period. LPL Financial LLC lifted its position in Ferrellgas Partners by 29.5% during the 1st quarter. LPL Financial LLC now owns 91,749 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 20,909 shares during the period. Sei Investments Co. lifted its position in Ferrellgas Partners by 5,831.6% during the 2nd quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 29,158 shares during the period. Wells Fargo & Company MN lifted its position in Ferrellgas Partners by 192.0% during the 1st quarter. Wells Fargo & Company MN now owns 47,415 shares of the oil and gas company’s stock valued at $149,000 after purchasing an additional 31,175 shares during the period. Finally, First Republic Investment Management Inc. acquired a new position in Ferrellgas Partners during the 2nd quarter valued at about $118,000. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

Ferrellgas Partners Company Profile (NYSE:FGP)

Ferrellgas Partners, L.P. distributes and sells propane and related equipment and supplies. The company transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers. It conducts its portable tank exchange operations under the Blue Rhino brand name through a network of independent and partnership-owned distribution outlets.

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