Ferrellgas Partners (NYSE:FGP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday.

According to Zacks, “Year to date, Ferrellgas Partners units have lost more than the industry it belongs to. The partnership’s first-quarter 2018 loss was wider than the Zacks Consensus Estimate and its year- ago quarter loss. Ferrellgas Partners’ margins were impacted by rising costs of commodity price and increased operating expenses as the partnership focuses on increasing its market share. Weather plays an important role in determining the propane sales volume and the partnership is taking strategic initiatives to make its sales less weather dependent. Ferrellgas Partners is working to drive growth through organic initiatives and acquisitions. The company also benefits from its strong propane distribution network and its focus to increase customer base will boost performance.”

A number of other research firms also recently issued reports on FGP. Royal Bank of Canada reiterated a “hold” rating and issued a $6.00 price objective on shares of Ferrellgas Partners in a report on Wednesday, September 27th. BidaskClub upgraded Ferrellgas Partners from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Raymond James Financial reiterated a “sell” rating on shares of Ferrellgas Partners in a report on Thursday, December 7th. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock has a consensus rating of “Sell” and an average target price of $5.44.

Ferrellgas Partners (FGP) opened at $4.26 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.41 and a debt-to-equity ratio of -2.28. Ferrellgas Partners has a twelve month low of $4.10 and a twelve month high of $8.83.

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

In other news, VP Trenton D. Hampton acquired 6,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was acquired at an average price of $4.98 per share, for a total transaction of $29,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FGP. Alliancebernstein L.P. grew its stake in shares of Ferrellgas Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 18,208 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 5,257 shares during the last quarter. Morgan Stanley grew its stake in shares of Ferrellgas Partners by 13.2% in the first quarter. Morgan Stanley now owns 346,912 shares of the oil and gas company’s stock worth $2,082,000 after acquiring an additional 40,533 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Ferrellgas Partners 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 worth $1,024,000 after acquiring an additional 47,533 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Ferrellgas Partners by 2.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 89,372 shares of the oil and gas company’s stock worth $409,000 after acquiring an additional 2,162 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Ferrellgas Partners by 1.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,570 shares of the oil and gas company’s stock worth $713,000 after acquiring an additional 1,873 shares during the last quarter. 6.43% of the stock is currently 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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