Ferrellgas Partners, L.P. (NYSE:FGP) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.50.
A number of equities analysts recently weighed in on FGP shares. Zacks Investment Research raised shares of Ferrellgas Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine raised shares of Ferrellgas Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th.
Hedge funds have recently modified their holdings of the business. Sei Investments Co. boosted its position in Ferrellgas Partners by 5,831.6% in the 2nd quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 29,158 shares during the period. First Republic Investment Management Inc. purchased a new position in Ferrellgas Partners in the 2nd quarter valued at approximately $118,000. Wells Fargo & Company MN raised its holdings in shares of Ferrellgas Partners by 192.0% in 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 in the last quarter. Jane Street Group LLC acquired a new stake in shares of Ferrellgas Partners in the 1st quarter valued at $225,000. Finally, LPL Financial LLC raised its holdings in shares of Ferrellgas Partners by 29.5% in 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 in the last quarter. 5.35% of the stock is owned by institutional investors.
NYSE:FGP opened at $1.53 on Friday. The company has a market cap of $148.64 million, a P/E ratio of -3.56 and a beta of 0.64. Ferrellgas Partners has a fifty-two week low of $1.52 and a fifty-two week high of $5.07.
Ferrellgas Partners (NYSE:FGP) last posted 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 company had revenue of $347.52 million for the quarter, compared to analysts’ expectations of $365.36 million. As a group, analysts expect that Ferrellgas Partners will post -0.09 earnings per share for the current fiscal year.
Ferrellgas Partners Company Profile
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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