Ferrellgas Partners (NYSE:FGP) announced its quarterly earnings results on Thursday. The oil and gas company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.14), MarketWatch Earnings reports. The company had revenue of $352.31 million for the quarter, compared to analysts’ expectations of $349.10 million.
Ferrellgas Partners stock opened at $1.06 on Friday. Ferrellgas Partners has a 1-year low of $0.75 and a 1-year high of $4.69. The stock has a market capitalization of $124.36 million, a P/E ratio of -2.47 and a beta of 0.86.
A number of analysts recently weighed in on FGP shares. Zacks Investment Research lowered 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. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Ferrellgas Partners currently has an average rating of “Hold” and a consensus target price of $3.50.
A number of institutional investors have recently bought and sold shares of the stock. First Republic Investment Management Inc. raised its position in Ferrellgas Partners by 157.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 90,000 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 55,000 shares during the period. Sowell Financial Services LLC purchased a new stake in Ferrellgas Partners in the 3rd quarter worth about $208,000. Prescott Group Capital Management L.L.C. raised its position in Ferrellgas Partners by 21.8% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 300,665 shares of the oil and gas company’s stock worth $664,000 after purchasing an additional 53,794 shares during the period. California Public Employees Retirement System raised its position in Ferrellgas Partners by 8.8% in the 2nd quarter. California Public Employees Retirement System now owns 232,890 shares of the oil and gas company’s stock worth $783,000 after purchasing an additional 18,890 shares during the period. Finally, Arrow Investment Advisors LLC purchased a new position in shares of Ferrellgas Partners during the second quarter worth approximately $516,000. 4.99% of the stock is currently owned by institutional investors.
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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