Bank of America Downgrades AmeriGas Partners L.P. to Underperform

Brokerage firm Bank of America Downgrades its rating on AmeriGas Partners L.P.(APU). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Feb 3, 2017.

AmeriGas Partners L.P. (APU) shares turned negative on Tuesdays trading session with the shares closing down -0.25 points or -0.51% at a volume of 2,65,861. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $48.92. The peak price level was also seen at $48.92 while the days lowest was $48.28. Finally the shares closed at $48.34. The 52-week high of the shares is $50.11 while the 52-week low is $36.21. According to the latest information available, the market cap of the company is $4,494 M.

AmeriGas Partners L.P.(APU) last announced its earnings results on Feb 1, 2017 for Fiscal Year 2017 and Q1.Company reported revenue of $677.166M. Analysts had an estimated revenue of $723.860M. Earnings per share were $1.07. Analysts had estimated an EPS of $1.1.

Several Insider Transactions has been reported to the SEC. On Feb 22, 2016, Hugh J. Gallagher (CFO) purchased 208 shares at $39.22 per share price.Also, On Dec 23, 2015, Lon R Greenberg (director) purchased 5,000 shares at $32.33 per share price.On Dec 11, 2015, John L Walsh (Vice Chairman) purchased 5,000 shares at $35.30 per share price, according to the Form-4 filing with the securities and exchange commission.

Amerigas Partners L.P. is a holding company. The Company conducts its business principally through its subsidiary AmeriGas Propane L.P. (AmeriGas OLP) a Delaware limited partnership. AmeriGas Propane Inc. is the Company’s general partner (the General Partner) and is responsible for managing its operations. The General Partner is a wholly owned subsidiary of UGI Corporation (UGI) a publicly traded company. The Partnership serves approximately 2 million residential commercial industrial agricultural wholesale and motor fuel customers in all 50 states from over 2000 propane distribution locations. In addition to distributing propane the Partnership also sells installs and services propane appliances including heating systems. The Partnership sells propane primarily to residential commercial/industrial motor fuel agricultural and wholesale customers.

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