Ferrellgas Partners (FGPR)
OTHER OTC:FGPR
Want to see FGPR full AI Analyst Report?
Top Page
Ferrellgas Partners
(OTC:FGPR)
Select Model
Select Model
Rating:58Neutral
Price Target:
$25.00
▲(31.58% Upside)
Action:Reiterated
Date:06/07/26
The score is held back primarily by high leverage and negative equity despite positive TTM profitability and cash flow. Very low P/E provides meaningful valuation support, while technical indicators point to weak near-term momentum. Earnings-call commentary was broadly constructive on operations and capital structure, but notable risks (price/seasonality pressures and CFO vacancy) remain.
Positive Factors
Cash generation
Sustained positive operating cash flow (~$169M TTM) and meaningful free cash flow (~$85M TTM) provide durable capacity to service debt, fund $70–90M annual capex, and support operational investment. This recurring cash generation underpins solvency and funds strategic initiatives over months ahead.
Negative Factors
High leverage and negative equity
Elevated debt (~$1.58B) combined with persistent negative equity constrains financial flexibility and elevates refinancing and covenant risk. Over a multi‑month horizon, high leverage limits the company’s ability to absorb demand shocks, pursue opportunistic M&A, or return capital without improving leverage metrics or refinancing on favorable terms.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive operating cash flow (~$169M TTM) and meaningful free cash flow (~$85M TTM) provide durable capacity to service debt, fund $70–90M annual capex, and support operational investment. This recurring cash generation underpins solvency and funds strategic initiatives over months ahead.
Read all positive factors
Ferrellgas Partners (FGPR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$270.92M
Dividend YieldN/A
Average Volume (3M)5.16K
Price to Earnings (P/E)2.6
Beta (1Y)0.15
Revenue Growth-3.64%
EPS Growth28.19%
CountryUS
Employees4,005
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)-26.67
Shares Outstanding11,357,605
10 Day Avg. Volume2,161
30 Day Avg. Volume5,156
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)-0.23
Price to Sales (P/S)0.04
P/FCF Ratio1.21
Enterprise Value/Market Cap5.99
Enterprise Value/Revenue0.87
Enterprise Value/Gross Profit1.95
Enterprise Value/Ebitda5.30
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ferrellgas Partners Business Overview & Revenue Model
Company Description
Ferrellgas Partners, L.P. specializes in the distribution and retail of propane, alongside associated equipment and supplies. The company facilitates propane delivery through various channels, including its own distribution locations, directly to ...
How the Company Makes Money
Ferrellgas primarily makes money by purchasing propane in bulk from suppliers and selling/delivering it to end customers at a marked-up price, earning a margin per gallon delivered (the spread between its delivered sales price and its propane supp...
Ferrellgas Partners Earnings Call Summary
Earnings Call Date:Mar 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Sep 25, 2026
Earnings Call Sentiment Positive
The call emphasized several strong operational and financial improvements — adjusted EBITDA up ~6%, net earnings higher, margin per gallon +6% and operating income per gallon +13%, meaningful cost reductions, safety improvements, and a significant capital structure milestone with the Class B conversion. Offsetting items included a ~22% decline in Mont Belvieu propane prices that reduced revenue by about $28 million, softer wholesale volumes (no hurricane-related boost), weather-related seasonality shifts, and watchful macro/geopolitical risks. Overall, the positive financial and strategic developments outweigh the manageable challenges noted.Positive Updates
Capital Structure Improvement and Class B Conversion
Board declared cash distribution of $82.32 per Class B Unit (~$107 million) and approved conversion of all 1.3 million outstanding Class B Units into Class A Units on a 5-to-1 ratio after the distribution; company achieved the Class B Conversion Threshold, expected to reduce cost of capital and unlock growth opportunities.
Negative Updates
Revenue Pressure from Lower Propane Prices
Propane prices at Mont Belvieu were down roughly 22% year-over-year, resulting in approximately $28 million decline in revenue despite cost of product falling by about $31 million.
Read all updates
Q2-2026 Updates
Positive
Negative
Capital Structure Improvement and Class B Conversion
Board declared cash distribution of $82.32 per Class B Unit (~$107 million) and approved conversion of all 1.3 million outstanding Class B Units into Class A Units on a 5-to-1 ratio after the distribution; company achieved the Class B Conversion Threshold, expected to reduce cost of capital and unlock growth opportunities.
Read all positive updates
Company Guidance
The call emphasized capital‑structure actions and continued operational momentum: the board declared an $82.32 cash distribution per Class B unit (≈$107M aggregate) payable ~March 13, 2026, which achieves the Class B Conversion Threshold and will convert all 1.3M Class B units into Class A units at a 5:1 ratio, reducing cost of capital and enabling growth initiatives (power generation, autogas, M&A). Key financials cited included adjusted EBITDA up $9.1M (≈6%) to $166.1M, gross profit +$3M (~1%), net earnings +$3.3M to $102.2M; Mont Belvieu propane prices down ~22% y/y causing ≈$28M revenue pressure while product cost fell ≈$31M; retail gross profit improved $7.1M; margin per gallon +6% and operating income per gallon +13%; G&A down $4.6M and operating lease expense down $1.6M after refinancings. Operational and safety metrics noted: OSHA recordables improved 10% QoQ and slips/trips/falls were down ~4% YoY; annual CapEx runs ~$70–90M; management also highlighted ~ $250M paid to Class B holders over 4.5 years (soon $357M) plus $125M to Eddystone (≈$0.5B of cash deployed) and expressed optimism about Q3 as winter continues.Ferrellgas Partners Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
18
Very Negative
Cash Flow
45
Neutral
| Breakdown | TTM | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 | Jul 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.86B | 1.94B | 1.84B | 2.03B | 2.11B | 1.75B |
| Gross Profit | 830.63M | 915.99M | 983.14M | 1.01B | 928.03M | 859.65M |
| EBITDA | 306.33M | 191.49M | 308.06M | 329.68M | 339.83M | 190.63M |
| Net Income | 75.44M | -15.41M | 10.22M | 75.85M | 48.00M | -67.73M |
Balance Sheet | ||||||
| Total Assets | 1.47B | 1.42B | 1.46B | 1.53B | 1.61B | 1.73B |
| Cash, Cash Equivalents and Short-Term Investments | 73.41M | 96.88M | 113.48M | 126.22M | 147.53M | 270.45M |
| Total Debt | 1.58B | 1.51B | 1.54B | 1.54B | 1.56B | 1.58B |
| Total Liabilities | 1.88B | 1.79B | 1.76B | 1.78B | 1.84B | 1.90B |
| Stockholders Equity | -338.88M | -298.44M | -220.56M | -218.36M | 37.91M | 88.87M |
Cash Flow | ||||||
| Free Cash Flow | 85.21M | 56.34M | 174.71M | 123.34M | 63.79M | 145.27M |
| Operating Cash Flow | 168.75M | 136.35M | 245.57M | 212.26M | 160.47M | 206.43M |
| Investing Cash Flow | -81.39M | -80.80M | -85.05M | -110.77M | -111.78M | -60.95M |
| Financing Cash Flow | -123.28M | -82.82M | -173.71M | -122.87M | -171.90M | -197.28M |
Ferrellgas Partners Technical Analysis
Neutral
19.00
Price Trends
24.92
Negative
23.93
Negative
20.61
Positive
Market Momentum
-0.29
Negative
44.42
Neutral
63.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGPR, the sentiment is Neutral. The current price of 19 is below the 20-day moving average (MA) of 24.00, below the 50-day MA of 24.92, and below the 200-day MA of 20.61, indicating a neutral trend. The MACD of -0.29 indicates Negative momentum. The RSI at 44.42 is Neutral, neither overbought nor oversold. The STOCH value of 63.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FGPR.
Ferrellgas Partners Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $13.01B | 9.95 | 17.28% | 6.88% | 37.27% | -29.09% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $409.11M | 3.91 | 29.84% | 6.14% | 3.12% | 41.70% | |
59 Neutral | $840.16M | 14.76 | -85.35% | 10.09% | -9.39% | 87.18% | |
58 Neutral | $270.92M | 2.56 | -24.17% | ― | -3.64% | 28.19% | |
55 Neutral | $2.54B | -48.61 | -37.66% | 3.42% | -6.49% | 93.38% | |
52 Neutral | $409.62M | -4.11 | -17.35% | ― | 4.99% | 49.26% |
* Energy Sector Average
FGPR
Ferrellgas Partners
23.75
13.85
139.90%
CLNE
Clean Energy Fuels
1.86
0.10
5.68%
DK
Delek US Holdings
41.47
21.21
104.73%
SGU
Star Gas Partners
12.46
1.25
11.11%
SUN
Sunoco
63.50
13.70
27.52%
CAPL
Crossamerica Partners
22.02
2.61
13.48%
Ferrellgas Partners Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Ferrellgas Reports Q3 Results and Simplifies Capital Structure
Positive
Jun 5, 2026
Ferrellgas Partners reported results for its third fiscal quarter ended April 30, 2026, highlighting a modest 1% increase in gross profit despite a 6% drop in revenue driven by lower propane prices and slightly lower volumes. The company’s c...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Ferrellgas Posts Mixed Q3 Results Amid Cost Pressures
Negative
Jun 5, 2026
Ferrellgas Partners reported third-quarter fiscal 2026 results on June 5, 2026, showing a modest 1% rise in gross profit as lower propane prices and a 6% revenue decline were offset by a larger 14% reduction in product costs, while margin per gall...
Financial Disclosures
Ferrellgas Partners Schedules Q3 2026 Earnings Webcast
Neutral
Jun 3, 2026
Ferrellgas Partners plans to hold an online teleconference on Friday, June 5, 2026, to review its operating results for the third fiscal quarter ended April 30, 2026. The webcast, scheduled to start at 9:00 a.m. Central Time, will allow stakeholde...
Financial Disclosures
Ferrellgas Partners Schedules Q3 2026 Results Webcast
Neutral
Jun 3, 2026
On June 5, 2026, Ferrellgas Partners will host an Internet teleconference to review its operating results for the third fiscal quarter ended April 30, 2026. The webcast is scheduled to begin at 9:00 a.m. Central Time, with investors able to submit...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Ferrellgas Partners Enhances Board Leadership and Strategic Governance
Positive
May 28, 2026
On May 21, 2026, Ferrellgas Partners appointed veteran energy and infrastructure investment banker Andrew Safran to the board of Ferrellgas, Inc., its general partner, while also engaging him as principal contact under an existing consulting agree...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Ferrellgas Partners Strengthens Board Leadership and Strategic Oversight
Positive
May 28, 2026
Ferrellgas Partners has continued its strategic transformation by appointing veteran investment banker Andrew Safran to the board of Ferrellgas, Inc., effective May 21, 2026, bringing deep expertise in natural resources and energy infrastructure. ...
Business Operations and StrategyExecutive/Board Changes
Ferrellgas Partners Restructures Board After Governance Changes
Neutral
May 20, 2026
On May 18, 2026, Ferrellgas, Inc. removed J. Carney Hawks from its Board of Directors, ending his tenure that began in 2021 under prior governance arrangements tied to Class B partnership units. The company stated that Hawks’ removal did not...
Business Operations and StrategyExecutive/Board Changes
Ferrellgas Partners Removes Director After Class B Conversion
Neutral
May 20, 2026
On May 18, 2026, Ferrellgas, Inc., the general partner of Ferrellgas Partners, L.P. and Ferrellgas, L.P., removed J. Carney Hawks from its Board of Directors, stating that his removal was not due to any disagreement over the company’s operat...
Business Operations and StrategyStock Split
Ferrellgas Partners Converts Class B Units to Class A
Positive
Mar 16, 2026
On March 13, 2026, Ferrellgas Partners, L.P. paid a previously disclosed cash distribution to holders of its Class B units and thereby met the Class B Conversion Threshold specified in its partnership agreement. On March 16, 2026, the partnership ...
Business Operations and Strategy
Ferrellgas Partners Converts Class B Units to Class A
Positive
Mar 16, 2026
On March 13, 2026, Ferrellgas Partners, L.P. made a previously disclosed cash distribution to holders of its Class B units and, as a result, achieved the Class B Conversion Threshold defined in its limited partnership agreement. This milestone ena...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.