Ferrellgas Partners (FGP) Rating Lowered to Neutral at Citigroup

Ferrellgas Partners (NYSE:FGP) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, January 9th, Marketbeat.com reports.

Several other brokerages also recently weighed in on FGP. ValuEngine downgraded shares of Ferrellgas Partners from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded shares of Ferrellgas Partners from a “hold” rating to a “strong sell” rating in a research note on Monday, December 11th. Raymond James Financial restated a “sell” rating on shares of Ferrellgas Partners in a research note on Thursday, December 7th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $6.00 target price on shares of Ferrellgas Partners in a research note on Monday, October 30th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company presently has an average rating of “Sell” and a consensus price target of $5.19.

Ferrellgas Partners (NYSE:FGP) opened at $4.08 on Tuesday. Ferrellgas Partners has a 52-week low of $3.80 and a 52-week high of $7.68. The company has a debt-to-equity ratio of -2.28, a quick ratio of 0.41 and a current ratio of 0.58. The company has a market cap of $394.44, a P/E ratio of -6.80 and a beta of 0.42.

Ferrellgas Partners (NYSE:FGP) last issued its quarterly earnings results on Thursday, December 7th. The oil and gas company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The company had revenue of $454.70 million for the quarter, compared to analysts’ expectations of $431.30 million. During the same period last year, the business earned ($0.44) earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. equities research analysts expect that Ferrellgas Partners will post 0.05 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP boosted its stake in Ferrellgas Partners by 86.3% during the 3rd quarter. GSA Capital Partners LLP now owns 315,391 shares of the oil and gas company’s stock valued at $1,621,000 after acquiring an additional 146,127 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in Ferrellgas Partners 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 acquiring an additional 72,211 shares during the last quarter. Royal Bank of Canada boosted its stake in Ferrellgas Partners by 7.8% during the 2nd quarter. Royal Bank of Canada now owns 131,811 shares of the oil and gas company’s stock valued at $604,000 after acquiring an additional 9,545 shares during the last quarter. PEAK6 Investments L.P. boosted its stake in Ferrellgas Partners by 283.5% during the 3rd 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 last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Ferrellgas Partners 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 acquiring an additional 2,162 shares during the last quarter. Hedge funds and other institutional investors own 6.32% of the company’s stock.

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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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