Ferrellgas Partners, L.P. (NYSE:FGP) announced a quarterly dividend on Wednesday, August 23rd, Wall Street Journal reports. Investors of record on Thursday, September 7th will be paid a dividend of 0.10 per share by the oil and gas company on Thursday, September 14th. This represents a $0.40 annualized dividend and a yield of 8.70%. The ex-dividend date is Wednesday, September 6th.

Ferrellgas Partners, L.P. has decreased its dividend by an average of 6.4% annually over the last three years. Ferrellgas Partners, L.P. has a payout ratio of -93.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ferrellgas Partners, L.P. to earn $0.22 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 181.8%.

Shares of Ferrellgas Partners, L.P. (FGP) traded up 1.55% during midday trading on Wednesday, reaching $4.60. The company had a trading volume of 241,993 shares. The firm’s 50 day moving average price is $4.53 and its 200-day moving average price is $5.52. Ferrellgas Partners, L.P. has a 12 month low of $4.22 and a 12 month high of $20.49. The company’s market capitalization is $446.90 million.

Ferrellgas Partners, L.P. (NYSE:FGP) last posted its earnings results on Friday, June 9th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The firm had revenue of $538.10 million for the quarter, compared to analysts’ expectations of $576.92 million. During the same period last year, the firm posted $0.19 EPS. Ferrellgas Partners, L.P.’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Ferrellgas Partners, L.P. will post ($0.47) earnings per share for the current fiscal year.

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FGP has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Ferrellgas Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub upgraded shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. ValuEngine upgraded shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Friday, July 7th. Finally, UBS AG reiterated a “sell” rating and issued a $5.00 target price (down previously from $5.50) on shares of Ferrellgas Partners, L.P. in a research note on Monday, June 12th. Seven investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.56.

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.

Dividend History for Ferrellgas Partners, L.P. (NYSE:FGP)

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