Ferrellgas Partners (FGP) Trading 13.6% Higher

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Ferrellgas Partners, L.P. (NYSE:FGP) traded up 13.6% during trading on Thursday . The company traded as high as $2.04 and last traded at $2.00. 1,304,826 shares traded hands during trading, an increase of 359% from the average session volume of 284,000 shares. The stock had previously closed at $1.76.

A number of research analysts have recently weighed in on the company. ValuEngine upgraded Ferrellgas Partners from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered Ferrellgas Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 4th. Three equities research 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. Ferrellgas Partners currently has a consensus rating of “Hold” and an average price target of $3.50.

The stock has a market cap of $214.71 million, a price-to-earnings ratio of -4.67 and a beta of 0.65. The company has a debt-to-equity ratio of -2.01, a current ratio of 1.30 and a quick ratio of 1.00.

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

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

Several institutional investors have recently modified their holdings of the company. Sei Investments Co. grew its position in Ferrellgas Partners by 5,831.6% in the second quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock worth $100,000 after acquiring an additional 29,158 shares in the last quarter. First Republic Investment Management Inc. purchased a new position in Ferrellgas Partners in the second quarter worth about $118,000. Wells Fargo & Company MN grew its position in Ferrellgas Partners by 192.0% in the first quarter. Wells Fargo & Company MN now owns 47,415 shares of the oil and gas company’s stock worth $149,000 after acquiring an additional 31,175 shares in the last quarter. Jane Street Group LLC purchased a new position in Ferrellgas Partners in the first quarter worth about $225,000. Finally, LPL Financial LLC grew its position in Ferrellgas Partners by 29.5% in the first quarter. LPL Financial LLC now owns 91,749 shares of the oil and gas company’s stock worth $286,000 after acquiring an additional 20,909 shares in the last quarter. Hedge funds and other institutional investors own 5.50% of the company’s stock.

About Ferrellgas Partners (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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