AmeriGas Partners L.P. (APU) was Reiterated by Barclays to “Underweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 47 from a previous price target of $40 . Barclays advised their investors in a research report released on Aug 4, 2016.
Many Wall Street Analysts have commented on AmeriGas Partners L.P.. AmeriGas Partners L.P. was Downgraded by Jefferies to ” Hold” on Jul 25, 2016. UBS Downgraded AmeriGas Partners L.P. on Jun 10, 2016 to ” Sell”, Price Target of the shares are set at $39.
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. opened for trading at $48.31 and hit $49.83 on the upside on Tusday, eventually ending the session at $48.94, with a gain of 0.70% or 0.34 points. The heightened volatility saw the trading volume jump to 2,61,979 shares. Company has a market cap of $4,548 M.
Investors should note that on Jul 25, 2016, AmeriGas Partners L.P. announced a cash dividend of $0.9400. The company’s management has announced Aug 8, 2016 as the ex-dividend date and fixed the record date on Aug 10, 2016. The payable date has been fixed on Aug 18, 2016.
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.