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Ferrellgas Partners, L.P. (NYSE:FGP)’s share price hit a new 52-week high on Friday following a dividend announcement from the company, AnalystRatings.Net reports. The stock traded as high as $28.25 and last traded at $28.22, with a volume of 125,133 shares. The stock had previously closed at $28.09.

The newly announced dividend is scheduled for Friday, September 12th. Stockholders of record on Friday, September 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.12%.

FGP has been the subject of a number of recent research reports. 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. Separately, 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.

The stock’s 50-day moving average is $26.13 and its 200-day moving average is $25.41. The company has a market cap of $2.294 billion and a P/E ratio of 43.15.

Ferrellgas Partners, L.P. (NYSE:FGP) last released its earnings data on Monday, June 9th. The company reported $0.57 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.56 earnings per share. Ferrellgas Partners, L.P.’s revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that Ferrellgas Partners, L.P. will post $1.03 earnings per share 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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