Ferrellgas Partners, L.P. (FGP) Declares Quarterly Dividend of $0.50
Ferrellgas Partners, L.P. (NYSE:FGP) declared a quarterly dividend on Thursday, August 21st, Analyst Ratings Net reports. Stockholders of record on Friday, September 5th will be given a dividend of 0.50 per share on Friday, September 12th. This represents a $2.00 dividend on an annualized basis and a yield of 7.14%.
A number of analysts have recently weighed in on FGP shares. Analysts at Citigroup Inc. upgraded shares of Ferrellgas Partners, L.P. from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $24.00 price target on the stock, up previously from $18.00. On the ratings front, 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. Finally, 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 0.43% during mid-day trading on Thursday, hitting $28.13. 70,699 shares of the company’s stock traded hands. Ferrellgas Partners, L.P. has a one year low of $21.24 and a one year high of $28.25. The stock’s 50-day moving average is $26. and its 200-day moving average is $25.39. The company has a market cap of $2.285 billion and a P/E ratio of 43.03.
Ferrellgas Partners, L.P. (NYSE:FGP) last announced its earnings results 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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