Ferrellgas Partners, L.P. (FGP) Debt Trading 1% Lower

An issue of Ferrellgas Partners, L.P. (NYSE:FGP) bonds fell 1% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 8.625% coupon and is set to mature on June 15, 2020. The debt is now trading at $94.00. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.

Several equities research analysts recently weighed in on FGP shares. ValuEngine raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a research report on Friday, July 7th. BidaskClub raised shares of Ferrellgas Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $6.00 target price on shares of Ferrellgas Partners, L.P. in a research report on Wednesday, September 27th. Finally, UBS AG reaffirmed a “sell” rating and issued a $5.00 target price (down previously from $5.50) on shares of Ferrellgas Partners, L.P. in a research report on Monday, June 12th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $8.67.

Shares of Ferrellgas Partners, L.P. (NYSE FGP) opened at 5.03 on Thursday. The company’s market cap is $488.67 million. Ferrellgas Partners, L.P. has a 52-week low of $4.22 and a 52-week high of $11.20. The firm has a 50-day moving average of $5.02 and a 200-day moving average of $5.24.

Ferrellgas Partners, L.P. (NYSE:FGP) last issued its quarterly earnings results on Thursday, September 28th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.09). The business had revenue of $433.38 million for the quarter, compared to analyst estimates of $431.74 million. During the same quarter last year, the firm earned ($6.68) EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Ferrellgas Partners, L.P. will post $0.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.40 dividend on an annualized basis and a yield of 7.95%. Ferrellgas Partners, L.P.’s payout ratio is -72.73%.

A number of institutional investors have recently modified their holdings of FGP. KCG Holdings Inc. acquired a new position in Ferrellgas Partners, L.P. during the 1st quarter valued at approximately $106,000. Alliancebernstein L.P. increased its stake in Ferrellgas Partners, L.P. by 40.6% during the 1st quarter. Alliancebernstein L.P. now owns 18,208 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 5,257 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Ferrellgas Partners, L.P. during the 1st quarter valued at approximately $166,000. Cambridge Investment Research Advisors Inc. increased its stake in Ferrellgas Partners, L.P. by 2.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 89,372 shares of the oil and gas company’s stock valued at $409,000 after purchasing an additional 2,162 shares in the last quarter. Finally, Virtu KCG Holdings LLC increased its stake in Ferrellgas Partners, L.P. by 410.3% during the 2nd quarter. Virtu KCG Holdings LLC now owns 89,811 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 72,211 shares in the last quarter. Institutional investors and hedge funds own 6.91% of the company’s stock.

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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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