Ferrellgas Partners, L.P. (NYSE:FGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “In last three months, Ferrellgas Partners’ units have gained more than the industry it belongs to. The partnership is working to drive growth through organic initiatives and acquisitions. It is also focused on cost containment efforts, which are likely to partially offset the impact of erratic weather conditions. The company also benefits from its strong propane distribution network. The fiscal 2017 weather in Ferrellgas’ Partners service territories were 18% warmer than normal, which adversely impacted the financial performance. The persistent pricing pressure in the commodity market resulted in project delays and cancellations, adversely impacting partnership’s long-term growth prospects. Loss of a major customer account is also adversely impacting the performance of the partnership.”

A number of other analysts also recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $6.00 target price on shares of Ferrellgas Partners, L.P. in a research report on Wednesday, September 27th. BidaskClub raised shares of Ferrellgas Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. ValuEngine raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “sell” rating in a research report on Friday, July 7th. Finally, UBS AG reaffirmed a “sell” rating and issued a $5.00 target price (down from $5.50) on shares of Ferrellgas Partners, L.P. in a research report on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $8.67.

Ferrellgas Partners, L.P. (FGP) traded down 1.76% on Friday, hitting $5.02. 89,650 shares of the company’s stock were exchanged. Ferrellgas Partners, L.P. has a 52-week low of $4.22 and a 52-week high of $10.98. The stock’s market cap is $487.70 million. The firm has a 50 day moving average price of $5.04 and a 200-day moving average price of $5.24.

Ferrellgas Partners, L.P. (NYSE:FGP) last released its earnings results on Thursday, September 28th. The oil and gas company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.09). The firm had revenue of $433.38 million for the quarter, compared to analysts’ expectations of $431.74 million. Ferrellgas Partners, L.P.’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($6.68) earnings per share. Analysts predict that Ferrellgas Partners, L.P. will post $0.15 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Ferrellgas Partners, L.P. by 7.8% in the 2nd quarter. Royal Bank of Canada now owns 131,811 shares of the oil and gas company’s stock worth $604,000 after purchasing an additional 9,545 shares in the last quarter. Virtu KCG Holdings LLC boosted its stake in Ferrellgas Partners, L.P. by 410.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 89,811 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 72,211 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Ferrellgas Partners, L.P. by 28.8% in the 2nd quarter. GSA Capital Partners LLP now owns 169,264 shares of the oil and gas company’s stock worth $775,000 after purchasing an additional 37,864 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Ferrellgas Partners, L.P. by 1.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,570 shares of the oil and gas company’s stock worth $713,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Ferrellgas Partners, L.P. by 2.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 89,372 shares of the oil and gas company’s stock worth $409,000 after purchasing an additional 2,162 shares in the last quarter. Institutional investors own 6.91% of the company’s stock.

Ferrellgas Partners, L.P. Company Profile

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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Analyst Recommendations for Ferrellgas Partners, L.P. (NYSE:FGP)

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