Analysts predict that Ferrellgas Partners, L.P. (NYSE:FGP) will post $365.36 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ferrellgas Partners’ earnings. The lowest sales estimate is $364.05 million and the highest is $366.67 million. Ferrellgas Partners posted sales of $433.38 million in the same quarter last year, which indicates a negative year-over-year growth rate of 15.7%. The business is expected to report its next earnings results before the market opens on Thursday, September 27th.
On average, analysts expect that Ferrellgas Partners will report full-year sales of $2.09 billion for the current fiscal year. For the next year, analysts forecast that the business will report sales of $1.81 billion, with estimates ranging from $1.67 billion to $1.95 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ferrellgas Partners.
FGP has been the topic of several research analyst reports. Zacks Investment Research raised shares of Ferrellgas Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine raised shares of Ferrellgas Partners from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.25.
A number of hedge funds and other institutional investors have recently modified their holdings of FGP. Sei Investments Co. lifted its holdings in Ferrellgas Partners by 5,831.6% in the second quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock worth $100,000 after acquiring an additional 29,158 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of Ferrellgas Partners in the second quarter valued at approximately $118,000. Wells Fargo & Company MN increased its stake in shares of Ferrellgas Partners by 192.0% in the first quarter. Wells Fargo & Company MN now owns 47,415 shares of the oil and gas company’s stock valued at $149,000 after purchasing an additional 31,175 shares during the period. Jane Street Group LLC acquired a new stake in shares of Ferrellgas Partners in the first quarter valued at approximately $225,000. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Ferrellgas Partners in the first quarter valued at approximately $281,000. 5.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FGP stock traded up $0.04 during trading hours on Friday, hitting $2.76. 313,300 shares of the company were exchanged, compared to its average volume of 249,666. The company has a debt-to-equity ratio of -2.46, a quick ratio of 0.81 and a current ratio of 1.08. Ferrellgas Partners has a one year low of $2.70 and a one year high of $5.38. The stock has a market capitalization of $271.05 million, a price-to-earnings ratio of -5.00 and a beta of 0.60.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, September 7th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 6th. This represents a $0.40 dividend on an annualized basis and a yield of 14.49%. Ferrellgas Partners’s dividend payout ratio is currently -72.73%.
Ferrellgas Partners Company Profile
Ferrellgas Partners, L.P. distributes and sells propane and related equipment and supplies primarily in the United States. It operates in two segments, Propane Operations and Related Equipment Sales, and Midstream Operations. The company transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers.
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