Commodity Commodity
by InsideTrade Staff on April 13, 2017

The Wagner Firm announces that it is investigating potential claims on behalf of investors of Ferrellgas Partners, L.P. (NYSE:FGP)

Ferrellgas Partners, L.P. (NYSE:FGP) The Wagner Firm announces that it is investigating potential claims on behalf of investors of Ferrellgas Partners LP concerning the Company and its officers’ possible violations of federal securities laws. Injured investors are encouraged to contact The Wagner Firm to discuss their legal rights, and a potential class action lawsuit to recover investors’ losses.

On September 28, 2016, Ferrellgas reported its results for the 2016 fourth quarter and full year. The Company disclosed a net loss of $665.4 million for fiscal year 2016, compared to net earnings of $29.6 million for fiscal year 2015. On the same day, the Company’s CEO, Stephen L. Wambold, resigned.

On this news, shares of Ferrellgas fell over 21% to close at $13.00 per share on September 28, 2016, thereby injuring investors.

Ferrellgas Equity Analysis

Ferrellgas Partners, L.P. (NYSE:FGP) opened trading today as $10.58 and is trading in the range of 10.00-11.20 today. CME Group’s current market cap stands at $1.04 billion.

Ferrellgas is currently covered by 8 Wall Street analysts. The mean target price is $12.17 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 4.0 which is based on 4 Hold ratings.

The most recent analyst actions consisted of JP Morgan downgrading the stock on September 28th and Piper Jaffray initiating coverage with a downgrade rating back in September.

The current quarter EPS revenue estimates of 624.16M. Sales are expected to drop at a 18.70% rate.

Corporate Profile

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.

By InsideTrade Staff

InsideTrade Staff is a general account of our team. We are the experts in the financial trading area, and we bring you the most recent news to blast off your trading analyses. Besides that, we often publish various one-time contributions and through this profile. If you want to get your content featured at InsideTrade.co - get in touch with us.

More content by InsideTrade Staff

Comments (0 comment(s))

Copyright 2018 InsideTrade.co