Ferrellgas Partners, L.P. (FGP) Stock Rating Reaffirmed by Royal Bank Of Canada

Ferrellgas Partners, L.P. (NYSE:FGP)‘s stock had its “hold” rating reissued by Royal Bank Of Canada in a note issued to investors on Monday. They currently have a $6.00 target price on the oil and gas company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 24.22% from the stock’s previous close.

Several other analysts have also issued reports on FGP. ValuEngine raised Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Friday, July 7th. Zacks Investment Research lowered Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, BidaskClub raised Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.18.

Ferrellgas Partners, L.P. (NYSE:FGP) opened at 4.83 on Monday. Ferrellgas Partners, L.P. has a one year low of $4.22 and a one year high of $8.83. The firm’s 50 day moving average price is $5.04 and its 200-day moving average price is $5.08. The company’s market capitalization is $469.24 million.

Ferrellgas Partners, L.P. (NYSE:FGP) last released its earnings results on Thursday, September 28th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.09). The firm had revenue of $433.38 million during the quarter, compared to the consensus estimate of $431.74 million. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($6.68) earnings per share. Equities analysts forecast that Ferrellgas Partners, L.P. will post $0.20 earnings per share for the current fiscal year.

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In other Ferrellgas Partners, L.P. news, VP Trenton D. Hampton acquired 6,000 shares of Ferrellgas Partners, L.P. stock in a transaction that occurred on Monday, October 16th. The shares were acquired at an average cost of $4.98 per share, with a total value of $29,880.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Ferrellgas Partners, L.P. by 13.2% in the first quarter. Morgan Stanley now owns 346,912 shares of the oil and gas company’s stock valued at $2,082,000 after buying an additional 40,533 shares in the last quarter. Virtu KCG Holdings LLC boosted its stake in Ferrellgas Partners, L.P. 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 buying an additional 72,211 shares in the last quarter. Bank of America Corp DE boosted its stake in Ferrellgas Partners, L.P. by 38.6% in the first quarter. Bank of America Corp DE now owns 170,559 shares of the oil and gas company’s stock valued at $1,024,000 after buying an additional 47,533 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in Ferrellgas Partners, L.P. by 125.9% in the second quarter. Prescott Group Capital Management L.L.C. now owns 792,334 shares of the oil and gas company’s stock valued at $3,629,000 after buying an additional 441,511 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new stake in Ferrellgas Partners, L.P. in the first quarter valued at about $106,000. 6.95% of the stock is currently owned by institutional investors and hedge funds.

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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