Citigroup Downgrades Ferrellgas Partners (FGP) to Neutral

Citigroup downgraded shares of Ferrellgas Partners (NYSE:FGP) from a buy rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat Ratings reports.

FGP has been the subject of a number of other reports. Zacks Investment Research lowered shares of Ferrellgas Partners from a hold rating to a strong sell rating in a report on Monday, December 11th. Royal Bank of Canada reiterated a hold rating and set a $6.00 target price on shares of Ferrellgas Partners in a research note on Monday, October 30th. Raymond James Financial reiterated a sell rating on shares of Ferrellgas Partners in a research note on Thursday, December 7th. Finally, ValuEngine lowered shares of Ferrellgas Partners from a sell rating to a strong sell rating in a research note on Sunday, December 31st. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has an average rating of Sell and an average target price of $5.44.

Shares of Ferrellgas Partners (NYSE:FGP) traded down $0.08 during midday trading on Tuesday, reaching $4.06. 549,302 shares of the company were exchanged, compared to its average volume of 552,246. Ferrellgas Partners has a 52 week low of $3.80 and a 52 week high of $8.83. The stock has a market cap of $394.44, a price-to-earnings ratio of -6.77 and a beta of 0.59. The company has a debt-to-equity ratio of -2.28, a quick ratio of 0.41 and a current ratio of 0.58.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 8th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.40 dividend on an annualized basis and a yield of 9.85%. Ferrellgas Partners’s dividend payout ratio is presently -66.67%.

In related news, VP Trenton D. Hampton bought 6,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was acquired at an average cost of $4.98 per share, for a total transaction of $29,880.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of FGP. Cambridge Investment Research Advisors Inc. grew its position in shares of 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 period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Ferrellgas Partners by 1.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,570 shares of the oil and gas company’s stock valued at $713,000 after acquiring an additional 1,873 shares during the period. GSA Capital Partners LLP grew its position in shares of Ferrellgas Partners by 28.8% during the 2nd quarter. GSA Capital Partners LLP now owns 169,264 shares of the oil and gas company’s stock valued at $775,000 after acquiring an additional 37,864 shares during the period. Virtu KCG Holdings LLC grew its position in shares of 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 period. Finally, Royal Bank of Canada grew its position in shares of 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 period. 6.34% of the stock is owned by hedge funds and other institutional investors.

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Ferrellgas Partners Company Profile

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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