Ferrellgas Partners Rating Reiterated by JPMorgan Chase & Co. (FGP)
Ferrellgas Partners (NYSE:FGP)‘s stock had its “underweight” rating restated by stock analysts at JPMorgan Chase & Co. in a report issued on Tuesday. They currently have a $21.00 target price on the stock, up from their previous target price of $20.00. JPMorgan Chase & Co.’s price objective points to a potential downside of 20.60% from the stock’s previous close.
Ferrellgas Partners (NYSE:FGP) traded up 1.13% during mid-day trading on Tuesday, hitting $26.75. The stock had a trading volume of 114,716 shares. Ferrellgas Partners has a 52 week low of $20.68 and a 52 week high of $27.86. The stock has a 50-day moving average of $25.94 and a 200-day moving average of $24.3. The company has a market cap of $2.118 billion and a price-to-earnings ratio of 41.01.
Ferrellgas Partners (NYSE:FGP) last issued its quarterly earnings data on Monday, June 9th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.09. The company had revenue of $722.10 million for the quarter, compared to the consensus estimate of $746.88 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts predict that Ferrellgas Partners will post $1.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.56%. The ex-dividend date is Wednesday, June 4th.
A number of other analysts have also recently weighed in on FGP. Analysts at Barclays raised their price target on shares of Ferrellgas Partners from $21.00 to $24.00 in a research note on Tuesday. They now have an “underweight” rating on the stock. Analysts at TheStreet upgraded shares of Ferrellgas Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th.
Ferrellgas Partners, L.P. (NYSE:FGP) is a distributor of propane and related equipment and supplies to customers primarily in the United States and conduct its business as a single reportable operating segment.
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