Equities research analysts expect that Ferrellgas Partners, L.P. (NYSE:FGP) will post ($0.64) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Ferrellgas Partners’ earnings. Ferrellgas Partners posted earnings per share of ($0.63) in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 17th.
On average, analysts expect that Ferrellgas Partners will report full year earnings of ($0.44) per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of ($0.46) per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Ferrellgas Partners.
FGP has been the topic of a number of analyst reports. ValuEngine raised shares of Ferrellgas Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Ferrellgas Partners from a “hold” rating to a “strong-buy” rating and set a $1.00 price objective on the stock in a research note on Monday, August 19th.
Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning grew its stake in Ferrellgas Partners by 104.3% in the 2nd quarter. Creative Planning now owns 56,005 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 28,586 shares during the period. JPMorgan Chase & Co. grew its stake in Ferrellgas Partners by 8,924.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 64,252 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 63,540 shares during the period. Finally, Morgan Stanley grew its stake in Ferrellgas Partners by 35.4% in the 2nd quarter. Morgan Stanley now owns 987,137 shares of the oil and gas company’s stock valued at $943,000 after acquiring an additional 257,906 shares during the period. 4.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FGP opened at $0.92 on Wednesday. Ferrellgas Partners has a 12 month low of $0.53 and a 12 month high of $2.08. The firm’s 50 day simple moving average is $0.89 and its 200-day simple moving average is $1.02.
Ferrellgas Partners Company Profile
Ferrellgas Partners, L.P. distributes and sells propane and related equipment and supplies. The company transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers. It conducts its portable tank exchange operations under the Blue Rhino brand name through a network of independent and partnership-owned distribution outlets.
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