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Ferrellgas Partners LP Message Board

  • wem1939 wem1939 Mar 12, 2006 8:46 AM Flag


    Looking at all the propane companys.Where do all these companys get there gas from. I never here any one talk about them. Next what % of propane will be used down the road.These rates there paying can't hold can they.

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    • Propane comes from 2 sources crude oil and natural gas. Many pipeline terminals serve propane companies around the country, super tankers bring in product, and refineries make propane in the process. For some interesting facts on propane look at Thrifty Propane Co,s
      web site.

    • 03/10/2006- 3:37pm S&P MAINTAINS SELL RECOMMENDATION ON SHARES OF FERRELLGAS PARTNERS (FGP 21.59 ) : Jan-Q EPS of $0.85 vs. $0.82 fell short of our estimate of $1.00 on lower-than-expected propane volumes. January is typically the highest propane demand month of the year for FGP. But with temperatures 25% warmer than normal, volumes were off 27%. We think FGP has taken steps toward improved cost control and enhanced price management, and are lowering our FY 06 (July) EPS estimate by only $0.05 to $0.35. Our 12-mo target price remains $18, reflecting a propane-group average enterprise value at 10.9X '06 est EBITDA. We think FGP's dividend is vulnerable, with just 1X coverage. /C.LaPorta

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