Ferrellgas Boosts Propane Portfolio - Analyst Blog
September 23 2011 - 7:45AM
Zacks
Ferrellgas Partners L.P. (FGP) has added
another propane retailer, Economy Propane Inc., consistent with its
strategy of acquiring new assets that complement its portfolio. The
acquisition of this Lakeport, California-based retailer marks the
partnership’s first acquisition this fiscal year, which began on
August 1, 2011, and the fourth in this calendar year.
Economy Propane, as an independent propane retailer, meets all
the requisites of Ferrellgas' growth-through-acquisition strategy,
where the partnership aims to gain control of good businesses in
lucrative markets. Going forward, the Ferrellgas family will join
Economy employees in the hope of proving superior service to its
new customers.
Through its growth-by-acquisition strategy Ferrellgas has made
as many as 225 acquisitions in over 70 years to transform itself
from a single-location, independently owned propane retailer to one
of the largest propane retailers in the United States.
Ferrellgas is scheduled to release its fourth quarter 2011
earnings results on September 26, 2011. Currently, the Zacks
Consensus Estimates for the fourth quarter, fiscal 2011 and fiscal
2012 are a loss of 41 cents, a loss of 48 cents and a profit of 79
cents per unit, respectively.
Overland Park, Kansas-based Ferrellgas Partners L.P. is a
leading distributor of propane and equipment in the U.S. The
partnership provides propane services to Residential, Industrial,
Portable Tank Exchange, Agricultural and Wholesale customers. The
major competitors of the partnership are AmeriGas Partners
L.P. (APU), Energy Transfer Partners L.P.
(ETP) and Suburban Propane Partners L.P.
(SPH).
Ferrellgas Partners retains a Zacks #3 Rank (short-term ‘Hold’
rating), which supports our long-term “Neutral” rating on the
stock.
AMERIGAS PARTNR (APU): Free Stock Analysis Report
ENERGY TRAN PTR (ETP): Free Stock Analysis Report
FERRELLGAS -LP (FGP): Free Stock Analysis Report
SUBURB PROPANE (SPH): Free Stock Analysis Report
Zacks Investment Research
Ferrellgas Partners (NYSE:FGP)
Historical Stock Chart
From May 2024 to Jun 2024
Ferrellgas Partners (NYSE:FGP)
Historical Stock Chart
From Jun 2023 to Jun 2024