California Public Employees Retirement System lowered its stake in Ferrellgas Partners, L.P. (NYSE:FGP) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,800 shares of the company’s stock after selling 16,100 shares during the period. California Public Employees Retirement System owned 0.35% of Ferrellgas Partners, L.P. worth $3,944,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Ferrellgas Partners, L.P. by 108.6% in the second quarter. JPMorgan Chase & Co. now owns 300,452 shares of the company’s stock valued at $5,552,000 after buying an additional 156,397 shares during the last quarter. BB&T Securities LLC bought a new position in shares of Ferrellgas Partners, L.P. during the second quarter valued at approximately $1,959,000. Global X Management Co. LLC increased its position in shares of Ferrellgas Partners, L.P. by 11.4% in the second quarter. Global X Management Co. LLC now owns 335,752 shares of the company’s stock valued at $6,205,000 after buying an additional 34,485 shares during the last quarter. Advisor Group Inc. bought a new position in shares of Ferrellgas Partners, L.P. during the second quarter valued at approximately $458,000. Finally, Concert Wealth Management Inc. increased its position in shares of Ferrellgas Partners, L.P. by 28.0% in the second quarter. Concert Wealth Management Inc. now owns 99,048 shares of the company’s stock valued at $1,830,000 after buying an additional 21,647 shares during the last quarter.

Institutional Ownership by Quarter for Ferrellgas Partners, L.P. (NYSE:FGP)

Ferrellgas Partners, L.P. (NYSE:FGP) traded down 5.76% during midday trading on Wednesday, reaching $5.56. 2,108,737 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $8.62 and a 200 day moving average price of $15.76. Ferrellgas Partners, L.P. has a 12-month low of $5.54 and a 12-month high of $20.85. The company’s market cap is $540.17 million.

Ferrellgas Partners, L.P. (NYSE:FGP) last released its quarterly earnings results on Wednesday, September 28th. The company reported ($6.68) 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 analyst estimates of $461.99 million. During the same period in the previous year, the company posted ($0.64) earnings per share. Ferrellgas Partners, L.P.’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Ferrellgas Partners, L.P. will post $0.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 8th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.19%.

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FGP has been the subject of several analyst reports. Zacks Investment Research raised shares of Ferrellgas Partners, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Janney Montgomery Scott initiated coverage on shares of Ferrellgas Partners, L.P. in a research note on Wednesday, August 24th. They set a “neutral” rating and a $20.00 price target for the company. Simmons reaffirmed a “neutral” rating and set a $20.00 price target on shares of Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. Piper Jaffray Cos. initiated coverage on shares of Ferrellgas Partners, L.P. in a research note on Monday, August 22nd. They set a “neutral” rating for the company. Finally, Citigroup Inc. raised shares of Ferrellgas Partners, L.P. from a “sell” rating to a “neutral” rating and dropped their price target for the company from $11.00 to $8.00 in a research note on Wednesday, November 2nd. Eight investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Ferrellgas Partners, L.P. has a consensus rating of “Sell” and an average target price of $15.57.

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

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.

5 Day Chart for NYSE:FGP

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