Added to YB: 2026-05-27
Pitch date: 2026-03-24
FGPR [bullish]
Ferrellgas Partners, L.P.
-9.23%
current return
Author Info
No bio for this author
Company Info
Ferrellgas Partners, L.P. retail distribution of propane, related equipment and supplies. It transports propane to propane distribution locations, tanks on customers’ premises, or to portable propane tanks delivered to retailers.
Market Cap
$120.0M
Pitch Price
$26.99
Price Target
60.00 (+143%)
Dividend
N/A
EV/EBITDA
4.41
P/E
18.86
EV/Sales
1.14
Sector
Gas Utilities
Category
special_situation
Ferrellgas Partners, L.P. - $FGPR
FGPR: Post-bankruptcy propane distributor w/ Class B conversion complete (Mar '26), removing overhang & simplifying cap structure. TTM EBITDA $333M (potential $350-375M), DCF ~$100M. At $27/unit trades 7.3x EV/EBITDA vs peer SPH 9.4x. 9x multiple = $50-60 target. $500M overhangs cleared (Eddystone settlement + Class B). Path to distribution: 40% payout = $3.60/share or 6.5% yield = $55. Mgmt owns 5%, ESOP 20%. Risks: high leverage, weather. Catalysts: uplist, dividend restart, M&A in fragmented market (70% independent).
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