Ferrellgas Partners (FGP) Hits New 1-Year Low at $1.47

Ferrellgas Partners, L.P. (NYSE:FGP)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.47 and last traded at $1.48, with a volume of 4436 shares changing hands. The stock had previously closed at $1.52.

FGP has been the subject of several recent research reports. Zacks Investment Research cut shares of Ferrellgas Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 4th. ValuEngine raised shares of Ferrellgas Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $3.50.

The stock has a market cap of $144.76 million, a P/E ratio of -3.37 and a beta of 0.95.

Ferrellgas Partners (NYSE:FGP) last issued its quarterly earnings results on Thursday, September 27th. The oil and gas company reported ($2.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($1.79). The business had revenue of $347.52 million for the quarter, compared to the consensus estimate of $365.36 million. Equities analysts anticipate that Ferrellgas Partners, L.P. will post -0.09 EPS for the current year.

A number of hedge funds have recently modified their holdings of FGP. Sei Investments Co. lifted its position in shares of Ferrellgas Partners by 5,831.6% during the 2nd quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock worth $100,000 after purchasing an additional 29,158 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Ferrellgas Partners during the 2nd quarter worth $118,000. Wells Fargo & Company MN lifted its position in shares of Ferrellgas Partners by 192.0% during the 1st quarter. Wells Fargo & Company MN now owns 47,415 shares of the oil and gas company’s stock worth $149,000 after purchasing an additional 31,175 shares during the last quarter. LPL Financial LLC lifted its position in shares of Ferrellgas Partners by 29.5% during the 1st quarter. LPL Financial LLC now owns 91,749 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 20,909 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of Ferrellgas Partners during the 3rd quarter worth $208,000. 4.68% of the stock is owned by institutional investors.

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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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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