$0.27 EPS Expected for Ferrellgas Partners, L.P. (FGP) This Quarter
Analysts expect that Ferrellgas Partners, L.P. (NYSE:FGP) will announce earnings of $0.27 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ferrellgas Partners, L.P.’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.46. Ferrellgas Partners, L.P. reported earnings of $0.19 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 42.1%. The company is expected to issue its next quarterly earnings report on Wednesday, June 14th.
According to Zacks, analysts expect that Ferrellgas Partners, L.P. will report full year earnings of $0.11 per share for the current fiscal year, with EPS estimates ranging from ($0.37) to $0.59. For the next fiscal year, analysts forecast that the business will report earnings of $0.32 per share, with EPS estimates ranging from $0.12 to $0.70. Zacks’ EPS averages are an average based on a survey of research firms that follow Ferrellgas Partners, L.P..
Ferrellgas Partners, L.P. (NYSE:FGP) last issued its quarterly earnings results on Thursday, March 9th. The oil and gas company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.28. The firm earned $579.25 million during the quarter, compared to analyst estimates of $654.13 million. During the same period last year, the business earned $0.58 EPS. The company’s revenue was down 10.8% on a year-over-year basis.
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A number of equities research analysts have recently weighed in on FGP shares. Bank of America Corp set a $5.00 target price on Ferrellgas Partners, L.P. and gave the stock a “sell” rating in a research report on Saturday, March 11th. Royal Bank of Canada restated a “hold” rating and set a $6.00 target price on shares of Ferrellgas Partners, L.P. in a research report on Friday, March 24th. Finally, Zacks Investment Research downgraded Ferrellgas Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, February 2nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $11.67.
Ferrellgas Partners, L.P. (NYSE:FGP) opened at 5.88 on Thursday. Ferrellgas Partners, L.P. has a 52 week low of $5.04 and a 52 week high of $20.85. The company’s market capitalization is $571.25 million. The company’s 50-day moving average price is $6.09 and its 200-day moving average price is $7.35.
In other news, Director Pamela A. Breuckmann bought 18,000 shares of the company’s stock in a transaction dated Thursday, March 23rd. The stock was bought at an average price of $5.82 per share, for a total transaction of $104,760.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Arrowpoint Asset Management LLC purchased a new stake in Ferrellgas Partners, L.P. during the fourth quarter worth $3,059,000. Picton Mahoney Asset Management purchased a new stake in Ferrellgas Partners, L.P. during the third quarter worth $2,328,000. GSA Capital Partners LLP purchased a new stake in Ferrellgas Partners, L.P. during the fourth quarter worth $988,000. RMB Capital Management LLC purchased a new stake in Ferrellgas Partners, L.P. during the fourth quarter worth $880,000. Finally, JPMorgan Chase & Co. increased its stake in Ferrellgas Partners, L.P. by 34.8% in the third quarter. JPMorgan Chase & Co. now owns 404,911 shares of the oil and gas company’s stock worth $4,713,000 after buying an additional 104,459 shares during the last quarter. Institutional investors own 7.21% of the company’s stock.
About Ferrellgas Partners, L.P.
Ferrellgas Partners, L.P. is engaged in the retail distribution of propane and related equipment sales, and midstream operations, which include crude oil logistics. The Company’s segments include propane and related equipment sales, midstream operations-crude oil logistics, and corporate and other. The propane and related equipment sales segment consists of the distribution of propane and related equipment and supplies.
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