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Ferrellgas Partners LP Message Board

  • infoonstocks infoonstocks Sep 27, 2011 1:04 PM Flag

    Took a haircut on FGP

    I manned up and sold this at about 22.5 a few weeks back- with a big loss. Can't say I'm sorry. I should have looked more closely at the balance sheet of this company. I won't touch it- long or short. Look at their books and ask yourself- how will they continue paying this dividend based on more and more borrowing/no cash flow. They don't even have pipeline assets. Ponzi alert.

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    • FGP has raised equity, strengthened their finances, arranged for more favorable, longer term financing and it is clear from the conference call, the banks are on board with this company. They have also acquired 5 companies this year. This isn't exactly a company unable to meet its payroll, which the naysayers on this board think.

      Man up is a term the cowboys who shovel(low intellect) cow manure love.

    • You are either a short posing as a non-, or just not a very good investor buying in at the top.

      you say..."""no cash flow. They don't even have pipeline assets."""

      Revenue was $2.42 billion, up from $2.1 billion the year before. Hmmm, yeah, that is "no" cash flow. LOL.

      They are a propane dealer, not a midstream, Duh?

      Propane sales are up, but increased wholesale prices hurt them bigtime this past quarter. In due time that will come down.

      • 1 Reply to cptn_buzzkill
      • Bought at around 25 sold 21.5ish, held about a year- about 5k shares. I have never owned a short position. Revenue does not matter if it's not profitable. You can only dilute and borrow for so long. I don't have a dog in this hunt and wish everyone the best. If you feel good about this company's books and competitive position than hold it or add. I won't be joining you. I would suggest looking at debt and FCF and judge for yourself.

 
FGP
25.62-0.06(-0.23%)Jul 25 4:01 PMEDT

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