Added to YB: 2026-05-27
Pitch date: 2026-03-24
FGPR [bullish]
Ferrellgas Partners, L.P.
-21.82%
current return
Author Info
No bio for this author
Company Info
Ferrellgas Partners, L.P. retail distribution and sale of propane, and related equipment and supplies in the United States, the District of Columbia, and Puerto Rico.
Market Cap
$248.6M
Pitch Price
$26.99
Price Target
60.00 (+184%)
Dividend
N/A
EV/EBITDA
6.98
P/E
-1.58
EV/Sales
1.29
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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