Ferrellgas Partners, L.P. Receives Neutral Rating from Zacks (FGP)
Ferrellgas Partners, L.P. (NYSE:FGP)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday. They currently have a $29.00 target price on the stock. Zacks‘s price target would suggest a potential upside of 6.03% from the company’s current price.
Zacks’ analyst wrote, “Ferrellgas Partners’ earnings per unit in the third quarter of fiscal 2014 missed the Zacks Consensus Estimate. As the heating season was primarily concentrated in the third quarter, failure of other providers helped the partnership to add new customers. However, Ferrellgas Partners failed to surpass the Zacks Consensus Estimate in the last four quarters as rising input costs are affecting the partnership’s margins as well as profitability. The partnership has the capability to turn the tide with the contribution from acquired assets, but it will likely be some time before it actually starts to exceed market expectations. In addition, over-dependence on a small number of propane suppliers and strong competition from other energy sources might pose further challenges for Ferrellgas Partners. Therefore, we have maintained our Neutral recommendation on the stock.”
A number of other analysts have also recently weighed in on FGP. Analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Ferrellgas Partners, L.P. in a research note on Tuesday, June 10th. They now have a $21.00 price target on the stock, up previously from $20.00. Separately, analysts at Barclays raised their price target on shares of Ferrellgas Partners, L.P. from $21.00 to $24.00 in a research note on Tuesday, June 10th. They now have an “underweight” rating on the stock.
Ferrellgas Partners, L.P. (NYSE:FGP) traded up 0.15% on Monday, hitting $27.39. The stock had a trading volume of 40,949 shares. Ferrellgas Partners, L.P. has a 52 week low of $21.24 and a 52 week high of $28.25. The stock has a 50-day moving average of $26.92 and a 200-day moving average of $24.. The company has a market cap of $2.225 billion and a price-to-earnings ratio of 42.01.
Ferrellgas Partners, L.P. (NYSE:FGP) last released its 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. Analysts expect that Ferrellgas Partners, L.P. will post $1.03 EPS for the current fiscal year.
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 operating segment.
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