Ferrellgas Partners, L.P. (NYSE:FGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “In last three months, Ferrellgas Partners’ units have gained more than the industry it belongs to. The partnership is working to drive growth through organic initiatives and acquisitions. It is also focused on cost containment efforts, which are likely to partially offset the impact of erratic weather conditions. The company also benefits from its strong propane distribution network. The fiscal 2017 weather in Ferrellgas’ Partners service territories were 18% warmer than normal, which adversely impacted the financial performance. The persistent pricing pressure in the commodity market resulted in project delays and cancellations, adversely impacting partnership’s long-term growth prospects. Loss of a major customer account is also adversely impacting the performance of the partnership.”

Several other research firms also recently weighed in on FGP. Royal Bank Of Canada reiterated a “hold” rating and issued a $6.00 target price on shares of Ferrellgas Partners, L.P. in a research note on Wednesday, September 27th. 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. 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. Finally, 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. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.67.

Shares of Ferrellgas Partners, L.P. (FGP) traded down 1.76% on Friday, reaching $5.02. 89,650 shares of the company were exchanged. Ferrellgas Partners, L.P. has a 12-month low of $4.22 and a 12-month high of $10.98. The firm’s market capitalization is $487.70 million. The company’s 50 day moving average is $5.04 and its 200 day moving average is $5.24.

Ferrellgas Partners, L.P. (NYSE:FGP) last announced its quarterly earnings data on Thursday, September 28th. The oil and gas company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.09). The business had revenue of $433.38 million for the quarter, compared to analyst estimates of $431.74 million. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted ($6.68) earnings per share. Analysts forecast that Ferrellgas Partners, L.P. will post $0.15 earnings per share for the current year.

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Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in Ferrellgas Partners, L.P. in the 1st quarter worth approximately $166,000. Wells Fargo & Company MN grew its stake in Ferrellgas Partners, L.P. by 52.9% in the 1st quarter. Wells Fargo & Company MN now owns 211,506 shares of the oil and gas company’s stock worth $1,268,000 after buying an additional 73,177 shares in the last quarter. Alliancebernstein L.P. grew its stake in Ferrellgas Partners, L.P. by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 18,208 shares of the oil and gas company’s stock worth $109,000 after buying an additional 5,257 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Ferrellgas Partners, L.P. by 16.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 87,210 shares of the oil and gas company’s stock worth $523,000 after buying an additional 12,117 shares in the last quarter. Finally, UBS Group AG grew its stake in Ferrellgas Partners, L.P. by 50.7% in the 1st quarter. UBS Group AG now owns 719,179 shares of the oil and gas company’s stock worth $4,315,000 after buying an additional 241,975 shares in the last quarter. 6.91% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Ferrellgas Partners, L.P. (NYSE:FGP)

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