An issue of Ferrellgas Partners, L.P. (NYSE:FGP) bonds fell 2% against their face value during trading on Tuesday. The high-yield debt issue has a 6.5% coupon and is set to mature on May 1, 2021. The bonds in the issue are now trading at $92.00 and were trading at $91.75 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

A number of analysts have recently issued reports on the stock. Simmons reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Ferrellgas Partners, L.P. in a report on Monday, August 22nd. Piper Jaffray Cos. assumed coverage on shares of Ferrellgas Partners, L.P. in a report on Monday, August 22nd. They set a “neutral” rating for the company. Janney Montgomery Scott assumed coverage on shares of Ferrellgas Partners, L.P. in a report on Wednesday, August 24th. They set a “neutral” rating and a $20.00 price objective for the company. Zacks Investment Research raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Citigroup Inc. downgraded shares of Ferrellgas Partners, L.P. from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $15.50 to $14.00 in a report on Tuesday, September 13th. Eight analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Ferrellgas Partners, L.P. currently has a consensus rating of “Sell” and an average target price of $16.00.

Ferrellgas Partners, L.P. (NYSE:FGP) opened at 10.44 on Wednesday. The firm has a 50 day moving average of $16.39 and a 200-day moving average of $18.14. Ferrellgas Partners, L.P. has a 52-week low of $9.12 and a 52-week high of $21.00. The stock’s market cap is $1.01 billion.

Ferrellgas Partners, L.P. (NYSE:FGP) last issued its quarterly earnings results on Wednesday, September 28th. The company reported ($6.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by $6.26. The business had revenue of $409.50 million for the quarter, compared to the consensus estimate of $461.99 million. Ferrellgas Partners, L.P.’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) EPS. Equities analysts anticipate that Ferrellgas Partners, L.P. will post $0.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, September 7th were paid a dividend of $0.5125 per share. The ex-dividend date was Friday, September 2nd. This represents a $2.05 dividend on an annualized basis and a dividend yield of 19.64%.

In other news, Director Stephen M. Clifford bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The shares were purchased at an average cost of $10.84 per share, for a total transaction of $43,360.00. Following the completion of the purchase, the director now owns 7,000 shares of the company’s stock, valued at $75,880. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David L. Starling bought 10,300 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $97,850.00. Following the completion of the purchase, the director now directly owns 8,640 shares of the company’s stock, valued at approximately $82,080. The disclosure for this purchase can be found here.

Several hedge funds have recently added to or reduced their stakes in the company. UMB Bank N A MO raised its stake in Ferrellgas Partners, L.P. by 3.0% in the second quarter. UMB Bank N A MO now owns 10,335 shares of the company’s stock worth $191,000 after buying an additional 300 shares during the last quarter. Alliancebernstein L.P. raised its stake in Ferrellgas Partners, L.P. by 2.5% in the second quarter. Alliancebernstein L.P. now owns 11,419 shares of the company’s stock worth $211,000 after buying an additional 279 shares during the last quarter. Jag Capital Management LLC purchased a new stake in Ferrellgas Partners, L.P. during the second quarter worth $215,000. Stifel Financial Corp raised its stake in Ferrellgas Partners, L.P. by 0.8% in the second quarter. Stifel Financial Corp now owns 12,603 shares of the company’s stock worth $233,000 after buying an additional 95 shares during the last quarter. Finally, Financial Advisory Service Inc. raised its stake in Ferrellgas Partners, L.P. by 2.0% in the second quarter. Financial Advisory Service Inc. now owns 13,841 shares of the company’s stock worth $256,000 after buying an additional 271 shares during the last quarter.

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 segment and water solutions segment. The Company’s two direct subsidiaries include Ferrellgas Partners Finance Corp. and the operating partnership.

5 Day Chart for NYSE:FGP

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