Ferrellgas Partners L.P. (FGP) was Initiated by RBC Capital Mkts to “Sector Perform” and the brokerage firm has set the Price Target at $19. RBC Capital Mkts advised their investors in a research report released on May 2, 2016.
On the company’s financial health, Ferrellgas Partners L.P. reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.28 based on the information available during the earnings call on Mar 10, 2016. Analyst had a consensus of $0.86. The company had revenue of $649.24 million for the quarter, compared to analysts expectations of $841.91 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.02 EPS.
Ferrellgas Partners L.P. opened for trading at $18.57 and hit $18.7 on the upside on Wednesday, eventually ending the session at $18.56, with a gain of 1.20% or 0.22 points. The heightened volatility saw the trading volume jump to 2,28,255 shares. Company has a market cap of $1,819 M.
In a different news, on Dec 15, 2015, Stephen M Clifford (director) purchased 3,000 shares at $14.76 per share price. According to the SEC, on Dec 14, 2015, Michael F Morrissey (director) purchased 2,000 shares at $15.29 per share price. On Dec 11, 2015, Alan C Heitmann (CFO) purchased 5,960 shares at $15.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Ferrellgas Partners L.P. is engaged in the retail distribution of propane and related equipment sales and midstream operations which include crude oil logistics segment and water solutions segment. The Company’s two direct subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership. Its assets are its approximate 99% limited partnership interest in the operating partnership and its 100% equity interest in Ferrellgas Partners Finance Corp. Its general partner performs all management functions for the Company and holds a 1% general partner interest in Ferrellgas Partners and has an approximate 1% general partner interest in the operating partnership. It distributes propane and related equipment and supplies to customers in the United States. The Company operates in three segments: propane and related equipment sales midstream operations – water solutions and midstream operations – crude oil logistics.