AmeriGas Partners L.P. (APU) was Downgraded by UBS to ” Sell” and the brokerage firm has set the Price Target at $39. Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Jun 10, 2016.
On the company’s financial health, AmeriGas Partners L.P. reported $-0.62 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Nov 9, 2015. Analyst had a consensus of $-0.43. The company had revenue of $418.24 million for the quarter, compared to analysts expectations of $503.31 million. The company’s revenue was down -25.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.58 EPS.
AmeriGas Partners L.P. closed down -0.29 points or -0.63% at $45.53 with 1,71,898 shares getting traded on Thursday. Post opening the session at $45.56, the shares hit an intraday low of $45.23 and an intraday high of $45.6299 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Feb 22, 2016, Hugh J. Gallagher (CFO) purchased 208 shares at $39.22 per share price. According to the SEC, on Dec 23, 2015, Lon R Greenberg (director) purchased 5,000 shares at $32.33 per share price. On Dec 11, 2015, John L Walsh (Vice Chairman) purchased 5,000 shares at $35.30 per share price, according to the Form-4 filing with the securities and exchange commission.
Amerigas Partners L.P. is a holding company. The Company conducts its business principally through its subsidiary AmeriGas Propane L.P. (AmeriGas OLP) a Delaware limited partnership. AmeriGas Propane Inc. is the Companys general partner (the General Partner) and is responsible for managing its operations. The General Partner is a wholly owned subsidiary of UGI Corporation (UGI) a publicly traded company. The Partnership serves approximately 2 million residential commercial industrial agricultural wholesale and motor fuel customers in all 50 states from over 2000 propane distribution locations. In addition to distributing propane the Partnership also sells installs and services propane appliances including heating systems. The Partnership sells propane primarily to residential commercial/industrial motor fuel agricultural and wholesale customers.