Ferrellgas Partners (FGP) Announces Earnings Results, Misses Expectations By $0.14 EPS
Ferrellgas Partners (NYSE:FGP) announced its quarterly earnings results on Thursday. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.14), MarketWatch Earnings reports. The business had revenue of $352.31 million during the quarter, compared to the consensus estimate of $349.10 million.
NYSE:FGP traded down $0.02 during trading hours on Friday, reaching $1.26. The company had a trading volume of 238,148 shares, compared to its average volume of 454,605. Ferrellgas Partners has a 1-year low of $0.75 and a 1-year high of $4.69. The company has a market capitalization of $73.84 million, a PE ratio of -2.93 and a beta of 0.86.
A number of large investors have recently made changes to their positions in the business. Sei Investments Co. raised its stake in shares of Ferrellgas Partners by 5,831.6% during the 2nd quarter. Sei Investments Co. now owns 29,658 shares of the oil and gas company’s stock worth $100,000 after buying an additional 29,158 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of Ferrellgas Partners during the 2nd quarter worth approximately $118,000. Sowell Financial Services LLC acquired a new position in shares of Ferrellgas Partners during the 3rd quarter worth approximately $208,000. Arrow Investment Advisors LLC acquired a new position in shares of Ferrellgas Partners during the 2nd quarter worth approximately $516,000. Finally, California Public Employees Retirement System raised its stake in shares of Ferrellgas Partners by 8.8% during the 2nd quarter. California Public Employees Retirement System now owns 232,890 shares of the oil and gas company’s stock worth $783,000 after buying an additional 18,890 shares during the period. 4.99% of the stock is owned by institutional investors.
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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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