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:62Neutral
Price Target:
$27.00
▲(42.11% Upside)
Action:ReiteratedDate:03/19/26
The score is held back primarily by a highly stressed balance sheet (very high debt and negative equity) despite improving earnings and positive free cash flow. Technicals are supportive with strong upside trend, though overbought signals add caution. Valuation looks exceptionally low on P/E, and the latest earnings call was broadly positive on operational momentum and capital-structure progress, but with identifiable risks.
Positive Factors
Free Cash Flow Generation
Consistent positive operating cash flow and materially growing free cash flow provide durable internal funding for capex, safety/technology investments and debt reduction. Over months this supports liquidity, funds distributions and reduces reliance on external financing despite a stressed balance sheet.
Negative Factors
Very High Leverage
Extremely high debt and negative equity materially limit financial flexibility. Over 2–6 months this increases refinancing and interest‑service risk, constrains investment capacity, and makes the business more vulnerable to rate moves or cash‑flow shocks despite improving operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
Consistent positive operating cash flow and materially growing free cash flow provide durable internal funding for capex, safety/technology investments and debt reduction. Over months this supports liquidity, funds distributions and reduces reliance on external financing despite a stressed balance sheet.
Read all positive factors
Ferrellgas Partners (FGPR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$123.22M
Dividend YieldN/A
Average Volume (3M)5.16K
Price to Earnings (P/E)0.2
Beta (1Y)0.09
Revenue Growth0.58%
EPS Growth73.09%
CountryUS
Employees4,005
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)-13.87
Shares Outstanding4,857,605
10 Day Avg. Volume2,161
30 Day Avg. Volume5,156
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)-0.23
Price to Sales (P/S)0.04
P/FCF Ratio1.21
Enterprise Value/Market Cap12.89
Enterprise Value/Revenue0.84
Enterprise Value/Gross Profit1.85
Enterprise Value/Ebitda4.95
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. distributes and sells propane and related equipment and supplies. The company transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers. It con...
How the Company Makes Money
Ferrellgas Partners makes money primarily by selling and delivering propane to end customers. Revenue is generated from (1) propane sales, where earnings depend on gallons delivered and the margin between the delivered sales price and the company’...
Ferrellgas Partners Earnings Call Summary
Earnings Call Date:Mar 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jun 05, 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
56
Neutral
Balance Sheet
18
Very Negative
Cash Flow
60
Neutral
| Breakdown | TTM | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 | Jul 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.90B | 1.94B | 1.84B | 2.03B | 2.11B | 1.75B |
| Gross Profit | 859.64M | 915.99M | 983.14M | 1.01B | 928.03M | 859.65M |
| EBITDA | 321.19M | 191.49M | 308.06M | 329.68M | 339.83M | 190.63M |
| Net Income | 70.27M | -15.41M | 10.22M | 75.85M | 48.00M | -67.73M |
Balance Sheet | ||||||
| Total Assets | 1.54B | 1.42B | 1.46B | 1.53B | 1.61B | 1.73B |
| Cash, Cash Equivalents and Short-Term Investments | 88.39M | 96.88M | 113.48M | 126.22M | 147.53M | 270.45M |
| Total Debt | 1.56B | 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 | -260.52M | -298.44M | -220.56M | -218.36M | 37.91M | 88.87M |
Cash Flow | ||||||
| Free Cash Flow | 85.72M | 56.34M | 174.71M | 123.34M | 63.79M | 145.27M |
| Operating Cash Flow | 168.18M | 136.35M | 245.57M | 212.26M | 160.47M | 206.43M |
| Investing Cash Flow | -79.82M | -80.80M | -85.05M | -110.77M | -111.78M | -60.95M |
| Financing Cash Flow | -39.38M | -82.82M | -173.71M | -122.87M | -171.90M | -197.28M |
Ferrellgas Partners Technical Analysis
Positive
19.00
Price Trends
23.94
Positive
21.38
Positive
18.16
Positive
Market Momentum
0.81
Positive
60.46
Neutral
68.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGPR, the sentiment is Positive. The current price of 19 is below the 20-day moving average (MA) of 26.69, below the 50-day MA of 23.94, and above the 200-day MA of 18.16, indicating a bullish trend. The MACD of 0.81 indicates Positive momentum. The RSI at 60.46 is Neutral, neither overbought nor oversold. The STOCH value of 68.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $405.73M | 2.76 | 19.81% | 6.14% | 6.35% | 40.99% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $13.98B | 18.46 | 7.26% | 6.88% | 11.05% | -65.14% | |
62 Neutral | $123.22M | 0.23 | -24.14% | ― | 0.58% | 73.09% | |
61 Neutral | $2.94B | -3.37 | -37.66% | 3.42% | -6.49% | 93.38% | |
55 Neutral | $531.02M | -2.69 | -38.08% | ― | 2.52% | -168.86% | |
52 Neutral | $791.30M | 19.25 | -67.36% | 10.09% | -10.63% | 96.44% |
* Energy Sector Average
FGPR
Ferrellgas Partners
25.11
16.03
176.54%
CLNE
Clean Energy Fuels
2.42
0.91
60.26%
DK
Delek US Holdings
48.04
34.85
264.27%
SGU
Star Gas Partners
12.34
0.88
7.69%
SUN
Sunoco
68.26
17.23
33.76%
CAPL
Crossamerica Partners
20.75
-0.32
-1.53%
Ferrellgas Partners Corporate Events
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...
Business Operations and StrategyDividendsFinancial Disclosures
Ferrellgas Simplifies Equity Structure After Solid Quarterly Results
Positive
Mar 5, 2026
Ferrellgas Partners reported on March 5, 2026, that second-quarter fiscal 2026 gross profit rose about 1% to deliver a 3% increase in net earnings to $102.2 million, as a sharp decline in propane prices cut revenue but more steeply reduced product...
Business Operations and StrategyDividendsFinancial Disclosures
Ferrellgas Partners Reports Q2 Earnings Growth, Unit Conversion
Positive
Mar 5, 2026
Ferrellgas Partners reported on March 5, 2026, that for its second fiscal quarter ended January 31, 2026, gross profit rose about 1% to deliver a $3.3 million increase in net earnings to $102.2 million, as lower propane prices reduced revenue but ...
Business Operations and StrategyDividends
Ferrellgas Partners Declares Distribution, Triggers Class B Conversion
Positive
Mar 4, 2026
On March 4, 2026, the board of Ferrellgas, Inc., as general partner of Ferrellgas Partners, L.P., declared a cash distribution of $82.32 per Class B Unit, totaling approximately $107.0 million, payable on or about March 13, 2026, to holders of rec...
Business Operations and StrategyDividendsRegulatory Filings and Compliance
Ferrellgas Partners Declares Large Distribution, Plans Unit Conversion
Positive
Mar 4, 2026
On March 4, 2026, Ferrellgas Partners’ board declared a cash distribution of $82.32 per Class B Unit, totaling about $107 million, payable on or about March 13, 2026, to Class B Unitholders of record as of March 6, 2026. This payout brings t...
Business Operations and StrategyFinancial Disclosures
Ferrellgas Partners Schedules Q2 2026 Earnings Webcast
Neutral
Feb 27, 2026
Ferrellgas Partners plans to hold an online teleconference on March 5, 2026, to discuss its operational and financial performance for the second fiscal quarter that ended on January 31, 2026. The webcast is scheduled to start at 8:00 a.m. Central ...
Financial Disclosures
Ferrellgas Partners Schedules Q2 2026 Results Webcast
Neutral
Feb 27, 2026
Ferrellgas Partners announced that it will host an online teleconference on March 5, 2026, to review its operating results for the second fiscal quarter ended January 31, 2026. The webcast will start at 8:00 a.m. Central Time, allowing investors a...
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.