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Ferrellgas Partners LP Message Board

  • citi says sell---i have more faith in mgt to overcome short term problems.

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    • The only flaw in your logic is management isn't dealing with short term problems. Fg has not increased its distribution in 12 years. I believed their technology play in a stale industry. But, they spent over $100 million and operating expenses have gone up instead of down and corporate overhead expense has quadrupled. Wish I would have put more in ETP or SPH.

    • `I agree I look at the history of this stock and it seems to get out of problems, and recovers I am holding for a long term investment and see its action as typical looking at its history. I wouldn't hold a coal stock with the same feeling.

    • Hmmm, thats why FGP hasn't been able to increase the distribution for 12 years running and has had to make the employee's ESOP units subordinated in order to be able to cover the distribution. All you have to do is compare FGP to NRGY over virtually any time frame. Go look at NRGY's distribution history (its available on yahoo if you care to look).

      Here is a link that tells the whole story:
      http://finance.yahoo.com/q/bc?s=FGP&t=my&l=on&z=m&q=l&c=nrgy

      I can pull up a chart comparing the distribution growth at NRGY to FGP if you want.

    • Yes, you are correct, many of those enterprising execs at other MLPs did come from FerrellGas, including some of Inergy's execs. I guess you could say that the students surpassed the teacher. Inergy has done so well that they were able to float the GP (symbol NRGP) on the market and cash in on the markets desire to hold the IDRs. I doubt FerrellGas could get much for their GP IDRs because they haven't progressed through the splits and I am assuming that ESOP units would have to receive full distribution and any arreages before the GP would get its IDRs.

    • Maybe the teacher ain't done schoolin' yet....

    • Well the prof better get busy if he wants to grow FGP's distribution. Already the investment houses are predicting no distribution growth for 2007(not that I put any stock in analysts, but they do follow the company closely and interact with management). I guess the word accretive needs to be added to his vocabulary, as in accretive acquisition. I don't know if FerrellGas has been careless in the multiples on ebitda they pay, or in the quality of the companies that they buy, but if they are buying them at the right multiple like Inergy has been able to do, and the customers and volumes stay steady, they ought to have surplus cash(ahh, the word accretive would fit nicely) that can be used to increase the distribution (which in turn will lift the unit price). They have made dozens and dozens of acquisitions since 1994 and not once have they increased the distribution. Compare that to Inergy (NRGY), Energy Transfer (ETP), Suburban Propane (SPH) and even Amerigas (APU) has started to grow its distribution. Can the students give the teacher an "F"?

    • I have a few comments since I am a first time contributor...Ferrellgas has had the retail plants out filling customers tanks the last few weeks working 7-days a week, with mandatory overtime, when the customers tanks are at 50%. There delivery expense per gallon is already one of the highest in the industry, other than trying to hit numbers for December this does not make sense. Anyone that is in this business knows that it takes 2-3weeks of cold weather once the tanks are jammed full to get any kind of volume moving again!!! So going into the month of January with all this mild weather,which should be the biggest volume/profit month of the year, and it is going to be a bust!!! Is this warm winter going to kill Ferrellgas??? The new operating platform that keeps getting praised, has increased operating costs, caused great customer disention, and the company continues to hemmorage customers.........As the volumes go down, the price charged per gallon goes up, to try and keep profits at record levels, when all it does is drive the customers to the compettion, and more tanks get pilled in the retail plants yards, then those get sold to a third party, who turns around and sets them on F-gas customers yards thus increasing the loss.......What part of this does not make sense to anyone else???

      • 4 Replies to usedtobetrublu
      • It dont make sence to me.. infact I like it..FG has been my best saleman!! I cant keep up with the tank swap.

      • Why a person claiming to be Tru Blu (at one point) would get on a financial website and bash the very company he works for. I believe you to work there to have thought process you seem to want to provide. I would say that if Ferrellgas has failed you - it is in the current leadership that has provided you with this attitude. It is apparent that you are not on board with your vision of what has been happening. Did you think of taking it up with someone who may have been able to do something about it (internally)? It really bothers me and I am sure other investors - when employees bash the very companies they work for in a manner such as this. I believe in Ferrellgas and have had the pleasure to meet with some of their leaders and know that they would have died to have had the chance to talk to you about this offline. I would suggest you beef up and take your concern up the ladder until you get the explanation you need and deserve and stay off financial websites spewing venom that is unnecessary. Hang tight brother - there is a better way. As an investor, I appreciate what you and the other guys/gals do to make Ferrellgas what it is today. I hope you and your family have a safe, cold and Happy New Year's Day and you get the answers you need.

      • Why a person claiming to be Tru Blu (at one point) would get on a financial website and bash the very company he works for. I believe you to work there to have thought process you seem to want to provide. I would say that if Ferrellgas has failed you - it is in the current leadership that has provided you with this attitude. It is apparent that you are not on board with your vision of what has been happening. Did you think of taking it up with someone who may have been able to do something about it (internally)? It really bothers me and I am sure other investors - when employees bash the very companies they work for in a manner such as this. I believe in Ferrellgas and have had the pleasure to meet with some of their leaders and know that they would have died to have had the chance to talk to you about this offline. I would suggest you beef up and take your concern up the ladder until you get the explanation you need and deserve and stay off financial websites spewing venom that is unnecessary. Hang tight brother - there is a better way. As an investor, I appreciate what you and the other guys/gals do to make Ferrellgas what it is today. I hope you and your family have a safe, cold and Happy New Year's Day and you get the answers you need.

      • Interesting comments. Despite all of the fluff on the conference calls, the proof is in the distributable cash flow per unit. I remain interested in seeing per unit improvements.

    • No, I presoanly all do of Tehse tihgns theerfroe am I not the asnewr, but are you gettnig clsoe.

      P.S. This is how someone with dyslexia sees words in print, so you are wrong on both guesses.

    • citi is looking to buy cheaper ... then sell high, reverse pump and dump

      • 1 Reply to jcc5169
      • Sorry buddy. Please stay with what you know. FGP only trades an average of 110k units per day. Citi couldn't make enough money to even pay their secretary's bonuses on a reverse pump and dump of Ferrellgas.

        The reality is the company has no compass. The most recent example on this Board is the touting of Blue Rhino's expansion into Canada and a year later they are selling off the assets at a loss. Also on this Board has been the discussion of how they spent $100 million on technology, but their operating expenses went up.

        I am in this one with you partner, and I pray that it gets better, but please make intelligent comments that we can all get something from.

    • The proof is in the dcf/unit numbers which will be coming soon. That should tell us how well they are doing.

 
FGP
28.45+0.60(+2.15%)Nov 26 4:07 PMEST

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