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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Marathon Petroleum Corp. Common Stock | AMEX:MPC | AMEX | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
Ferrellgas Partners L.P. (FGP) announced the acquisition of Mr. Bar-B-Q for an undisclosed amount. New York-based Mr. Bar-B-Q provides high-quality barbeque instruments and allied accessories. In the future, Mr. Bar-B-Q will act as part of Ferrellgas Partners’ Blue Rhino brand.
Under the Blue Rhino brand name, Ferrellgas Partners provides barbeque grills and outdoor living products through retail outlets. We expect this acquisition to be immediately accretive to the partnership given Mr. Bar-B-Q’s presence in the bar-b-q apparatus domain. It is also likely to enhance the partnership’s product coverage and strengthen its market penetration.
This marks Ferrellgas Partners’ fourth acquisition in the current fiscal year, taking the tally to nearly 241 to date. The partnership’s recent significant buys were Connecticut-based IGS Propane in Dec 2012, El Paso-based Flores Gas in Oct 2012 and Sacramento-based Capitol City Propane in Sep 2012. These acquisitions will enable Ferrellgas Partners to strengthen its presence in the state along with adding customers.
After completing significant propane-assets deals, we consider Ferrellgas Partners’ latest take-over of non-core property a significant step toward product portfolio diversification. We believe this acquisition will further boost its financial performance and bring in earnings flow from different streams.
Ferrellgas Partners currently has a Zacks Rank #3 (Hold). Besides the partnership, other stocks from the industry like Lehigh Gas Partners LP (LGP), Marathon Petroleum Corporation (MPC) and PBF Energy Inc. (PBF) are presently performing better and currently carry a Zacks Rank #1 (Strong Buy).
Overland Park, KS.-based Ferrellgas Partners LP is a leading distributor of propane and related equipment in the U.S. The partnership provides propane services to Residential, Industrial, Portable Tank Exchange, Agricultural and Wholesale customers.
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