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Ferrellgas Partners LP Message Board

  • bonkthegrups bonkthegrups Nov 9, 2012 12:21 PM Flag

    Ho Ho HO Welcome to the 16s bags

    My how time flies. It seems like only weeks ago that I posted "Welcome to the 17s bags". Oh wait, it was only a few weeks ago.

    Sentiment: Strong Sell

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    • only hoping it goes lower from political standoff to add to position. Predictions of colder weather, or at least return to more normal winter conditions, and propane will be back in business. I am glad to have money to put to work! Company is solid, and will continue to pay dividends now, and in the future.

      Sentiment: Buy

      • 1 Reply to firemon2001
      • Are you aware the company has never earned enough to cover those "dividends" and has racked up over $1.2 Billion in debt paying them out? Do you ever wonder why the "dividend" hasn't increased in 17 years and the debt keeps growing? Have you run the math on how much longer they can dovthis under their debt covenants? Are you aware that the debt is rated junk and on negative watch by S&P? Are you aware that FGP needs keep keep acquiring businesses to hide the organic decline? Are you aware that the US is now exporting propane at maximum capacity and that capacity will more than double over the next year - driving up FGP's input cost and squeezing margins? The US produces about 1M barrels per day of LPG - the export capacity just over the next year is increasing from 150K barrels to 350K barrels. Are you aware that flat to declining companies are worth 5-6x EBITDA on a good day but IOC's debt alone is 6x and the total business trades at over 15x?

        Bags looking in the rearview mirror and clutching their next "dividend" or two are in for a rude awakening IMHO.

        Prepare to reap it.

        Sentiment: Strong Sell

    • Hey all- Bonk shows up and its time to start buying!

    • I doubted you sellers could get it here, but I'm taking advantage of it.
      Talk to you in 3 weeks.

      Sentiment: Buy

10.53-0.06(-0.57%)Oct 21 4:02 PMEDT