RBC Capital Downgrades Ferrellgas Partners L.P. to Underperform

Brokerage firm RBC Capital Downgrades its rating on Ferrellgas Partners L.P.(NYSE:FGP). The shares have been rated Underperform. Previously, the analysts had a Sector Perform rating on the shares. The rating by RBC Capital was issued on Sep 15, 2016.

In a different note, On Sep 13, 2016, Citigroup said it Downgrades its rating on Ferrellgas Partners L.P.. In the research note, the firm Lowers the price-target to $15.50 per share. The shares have been rated ‘Sell’ by the firm. Janney Capital said it Initiates Coverage on Ferrellgas Partners L.P., according to a research note issued on Aug 24, 2016. The shares have been rated ‘Neutral’ by the firm. PiperJaffray said it Initiates Coverage on Ferrellgas Partners L.P., according to a research note issued on Aug 22, 2016. The shares have been rated ‘Neutral’ by the firm.

Ferrellgas Partners L.P. (FGP) shares turned negative on Tuesdays trading session with the shares closing down -0.19 points or -1.10% at a volume of 2,60,246. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.4099. The peak price level was also seen at $17.4099 while the days lowest was $17.04. Finally the shares closed at $17.05. The 52-week high of the shares is $22.07 while the 52-week low is $13.76. According to the latest information available, the market cap of the company is $1,671 M.

Ferrellgas Partners L.P.(FGP) last announced its earnings results on Jun 8, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $509.47M. Analysts had an estimated revenue of $759.42M. Earnings per share were $0.24. Analysts had estimated an EPS of $0.51.

Several Insider Transactions has been reported to the SEC. On Dec 15, 2015, Stephen M Clifford (director) purchased 3,000 shares at $14.76 per share price.Also, On Dec 14, 2015, Michael F Morrissey (director) purchased 2,000 shares at $15.29 per share price.On Dec 11, 2015, Alan C Heitmann (CFO) purchased 5,960 shares at $15.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Ferrellgas Partners L.P. is engaged in the retail distribution of propane and related equipment sales and midstream operations which include crude oil logistics segment and water solutions segment. The Company’s two direct subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership. Its assets are its approximate 99% limited partnership interest in the operating partnership and its 100% equity interest in Ferrellgas Partners Finance Corp. Its general partner performs all management functions for the Company and holds a 1% general partner interest in Ferrellgas Partners and has an approximate 1% general partner interest in the operating partnership. It distributes propane and related equipment and supplies to customers in the United States. The Company operates in three segments: propane and related equipment sales midstream operations – water solutions and midstream operations – crude oil logistics.

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