Ferrellgas Partners L.P. (FGP) is Downgraded by Piper Jaffray to Underweight

Ferrellgas Partners L.P. (FGP) was Downgraded by Piper Jaffray to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Sep 28, 2016.

Many Wall Street Analysts have commented on Ferrellgas Partners L.P.. Ferrellgas Partners L.P. was Downgraded by JP Morgan to ” Underweight” on Sep 28, 2016. Shares were Downgraded by RBC Capital Mkts on Sep 15, 2016 to ” Underperform” and Lowered the Price Target to $ 13 from a previous price target of $17 .Shares were Downgraded by Citigroup on Sep 13, 2016 to ” Sell” and Lowered the Price Target to $ 14 from a previous price target of $15.50 .

On the company’s financial health, Ferrellgas Partners L.P. reported $-6.68 EPS for the quarter, missing the analyst consensus estimate by $ -6.22 based on the information available during the earnings call on Sep 28, 2016. Analyst had a consensus of $-0.46. The company had revenue of $409.51 million for the quarter, compared to analysts expectations of $461.99 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.64 EPS.

Ferrellgas Partners L.P. closed down -0.27 points or -1.61% at $16.5 with 5,33,762 shares getting traded on Tuesday. Post opening the session at $16.92, the shares hit an intraday low of $16.5 and an intraday high of $16.94 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Ferrellgas Partners L.P.

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