Equities analysts expect that Ferrellgas Partners, L.P. (NYSE:FGP) will announce $436.34 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Ferrellgas Partners’ earnings, with the highest sales estimate coming in at $447.27 million and the lowest estimate coming in at $425.40 million. Ferrellgas Partners reported sales of $379.54 million during the same quarter last year, which indicates a positive year over year growth rate of 15%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, December 7th.
According to Zacks, analysts expect that Ferrellgas Partners will report full-year sales of $436.34 million for the current fiscal year, with estimates ranging from $2.06 billion to $2.23 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.26 billion per share, with estimates ranging from $2.13 billion to $2.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ferrellgas Partners.
Ferrellgas Partners (NYSE:FGP) last issued its quarterly earnings data on Thursday, September 28th. The oil and gas company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.09). The company had revenue of $433.38 million during the quarter, compared to the consensus estimate of $431.74 million. During the same quarter in the prior year, the firm posted ($6.68) earnings per share. Ferrellgas Partners’s quarterly revenue was up 5.8% compared to the same quarter last year.
FGP has been the topic of several research analyst reports. Zacks Investment Research lowered Ferrellgas Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub upgraded Ferrellgas Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $6.00 price objective on shares of Ferrellgas Partners in a research report on Wednesday, September 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.18.
In other Ferrellgas Partners news, VP Trenton D. Hampton acquired 6,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were acquired at an average price of $4.98 per share, for a total transaction of $29,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. KCG Holdings Inc. purchased a new stake in shares of Ferrellgas Partners during the first quarter worth about $106,000. Alliancebernstein L.P. boosted its stake in Ferrellgas Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 18,208 shares of the oil and gas company’s stock valued at $109,000 after acquiring an additional 5,257 shares during the period. PEAK6 Investments L.P. boosted its stake in Ferrellgas Partners by 283.5% in the third quarter. PEAK6 Investments L.P. now owns 20,639 shares of the oil and gas company’s stock valued at $106,000 after acquiring an additional 15,257 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Ferrellgas Partners by 2.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 89,372 shares of the oil and gas company’s stock valued at $409,000 after acquiring an additional 2,162 shares during the period. Finally, Virtu KCG Holdings LLC boosted its stake in Ferrellgas Partners by 410.3% in the second quarter. Virtu KCG Holdings LLC now owns 89,811 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 72,211 shares during the period. 6.43% of the stock is currently owned by institutional investors and hedge funds.
Ferrellgas Partners (FGP) traded up $0.05 during trading on Monday, reaching $4.57. The company’s stock had a trading volume of 194,900 shares, compared to its average volume of 393,390. 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 has a 52 week low of $4.22 and a 52 week high of $8.83.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date of this dividend is Thursday, December 7th. Ferrellgas Partners’s dividend payout ratio (DPR) is -72.73%.
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About Ferrellgas Partners
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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