Ferrellgas Partners (FGP) Reaches New 12-Month Low at $1.42

Shares of Ferrellgas Partners, L.P. (NYSE:FGP) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.42 and last traded at $1.47, with a volume of 4336 shares trading hands. The stock had previously closed at $1.46.

FGP has been the subject of several analyst reports. ValuEngine upgraded shares of Ferrellgas Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Zacks Investment Research upgraded shares of Ferrellgas Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Ferrellgas Partners presently has a consensus rating of “Hold” and an average price target of $3.50.

The stock has a market cap of $141.84 million, a PE ratio of -3.47 and a beta of 0.95.

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

Large investors have recently modified their holdings of the company. Sei Investments Co. raised its stake in shares of Ferrellgas Partners by 5,831.6% during the second quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock valued at $100,000 after acquiring an additional 29,158 shares during the last quarter. First Republic Investment Management Inc. bought a new position in shares of Ferrellgas Partners during the second quarter valued at about $118,000. Wells Fargo & Company MN raised its stake in shares of Ferrellgas Partners by 192.0% during the first quarter. Wells Fargo & Company MN now owns 47,415 shares of the oil and gas company’s stock valued at $149,000 after acquiring an additional 31,175 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Ferrellgas Partners during the third quarter valued at about $208,000. Finally, Arrow Investment Advisors LLC bought a new position in shares of Ferrellgas Partners during the second quarter valued at about $516,000. 4.68% of the stock is owned by hedge funds and other 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.

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