Fri, Jun. 10, 1:13 PM
- Ferrellgas Partners (FGP -4.2%) is downgraded to Sell from Neutral with a $15 price target, cut from $17, at UBS, citing uncertainty around its contract to supply Monroe's Trainer refinery and the associated risk over the outcome of negotiations, combined with its view of overall margin compression in retail propane.
- UBS also downgrades AmeriGas Partners (APU -4.7%) to Sell while keeping a $39 price target on the shares, saying the shares look relatively expensive at current levels and that its yield is lower than competitors.
- The firm downgrades Suburban Propane (SPH -5%) to Neutral from Buy with a $35 price target.
Thu, Mar. 10, 11:24 AM
- Ferrellgas Partners (FGP -2.6%) is sharply lower after reporting weaker than expected Q4 earnings and revenues, and cutting its forecast for the year, citing warmer-than-normal weather and sustained low energy prices.
- FGP says it now sees FY 2016 adjusted EBITDA of $360M-$375M, down from prior guidance of $400M-$420M; based on the midpoint of its EBITDA estimates, FGP expects its distributable cash flow coverage ratio to increase to above 1.0x by year-end.
- FGP also says it will consider growth and buying opportunities that could mitigate the warm weather and capitalize on low crude oil prices.
Jun. 1, 2015, 5:09 PM
- Ferrellgas Partners (NYSE:FGP) -3.2% AH after announcing a public offering of 6.235M common units, with an underwriters option to purchase up to an additional 948,750 units.
- FGP says it plans to use the proceeds to fund part of its pending acquisition of Bridger Logistics.
- FGP also says its operating subsidiary will offer $400M in aggregate principal amount of senior unsecured notes due 2023 in a private placement.
Jul. 30, 2013, 2:57 PM
- All workers at a Ferrellgas (FGP -2%) propane gas plant in Florida rocked by massive explosions last night are accounted for after officials initially reported more than a dozen employees missing.
- The cause of the incident is under investigation, FGP says.
- The Blue Rhino plant is one of nine propane exchange plants FGP operates; it usually has 53K 20-pound (9-kg) propane tanks.
Jun. 6, 2013, 8:48 AM
More on Ferrellgas Partners' (FGP) FQ3 results: Propane sales volumes grew 18% Y/Y to 267.1M gallons, attributed to organic growth efforts and temperatures that were 6% colder than normal. Gross margin rose to 37% from 28.4%. Raises its FY 2013 EBITDA outlook to $270M-$275M vs. previous $245M-$260M. Shares +1.9% premarket.| Jun. 6, 2013, 8:48 AM
Mar. 27, 2013, 9:39 AM
Ferrellgas Partners (FGP -3.3%) sinks at the open, apparently the result of a Seeking Alpha blog post that calls the stock "a balloon ready to pop... not only are the shares extremely overpriced, but that the 'income' investors are receiving is sustained only by an ever increasing mountain of debt and perpetual issuance of new shares."| Mar. 27, 2013, 9:39 AM | 9 Comments
Mar. 12, 2012, 11:48 AM
Dec. 12, 2011, 10:14 AM
Dec. 9, 2011, 1:23 PM
Propane distributor Ferrellgas Partners LP's (FGP -1.5%) falls after its FQ1 beat on revenue but came up far short on a per share basis. Losses widened as litigation expenses and higher propane and gas costs continue to weaken margins and cut into profits.| Dec. 9, 2011, 1:23 PM
Jun. 7, 2011, 10:22 AMFerrellgas Partners (FGP): FQ3 EPS of $0.32 misses by $0.23. Revenue of $732M (+19% Y/Y) beats by $53M. Q3 results "reflected similar dynamics from the first half of the fiscal year, notably sharply higher wholesale propane prices that drove customer conservation." Shares -5.9%. (PR) | Jun. 7, 2011, 10:22 AM