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The latest announcement is out from Ferrellgas Partners ( (FGPR) ).
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 notified Class B unitholders that it was electing to convert each Class B unit into five Class A units at a conversion factor of 5.00, resulting in the issuance of 6,500,000 new Class A units and the elimination of all outstanding Class B units.
The partnership engaged Computershare Inc. and its affiliate as conversion agent, and its public accounting firm determined that the newly issued Class A units are fully fungible and tradable pari passu with previously outstanding Class A units. The move simplifies Ferrellgas Partners’ equity structure and consolidates all limited partner interests into a single class of publicly tradable units, clarifying capital structure for investors and potentially enhancing liquidity in the Class A units.
The most recent analyst rating on (FGPR) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Ferrellgas Partners stock, see the FGPR Stock Forecast page.
Spark’s Take on FGPR Stock
According to Spark, TipRanks’ AI Analyst, FGPR is a Neutral.
The score is held back primarily by elevated balance-sheet risk (very high debt and negative equity) despite positive TTM cash flow and improving profitability. Technicals are supportive with a strong uptrend, and the latest earnings call was generally positive on operational momentum and capital-structure simplification, but valuation is difficult to justify from the provided P/E (0.000) and the absence of dividend yield data.
To see Spark’s full report on FGPR stock, click here.
More about Ferrellgas Partners
Ferrellgas Partners, L.P. is a master limited partnership in the energy sector that issues Class A and Class B limited partnership units to investors. The partnership’s capital structure allows for conversion features between classes of units, with its Class A units publicly tradable and serving as the primary equity vehicle for unitholders.
Average Trading Volume: 5,487
Technical Sentiment Signal: Buy
Current Market Cap: $373.6M
Find detailed analytics on FGPR stock on TipRanks’ Stock Analysis page.