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September 2020: Tank car sub-lease rates

September 2, 2020 By    

Each month, LP Gas provides updates on the U.S. propane market, as well as the latest trends. The data for September 2020 focuses on LPG tank car and rail car sub-lease and lease rate trends. This month’s data comes from Energy Transport Insider.

Stock information for Ferrellgas and Suburban Propane is also provided.

PROPANE MARKET METRICSSource: Energy Transport Insider

Prices for 2020 winter LPG pressure tank cars are weaker, reflecting uncertainty over the coming winter season. Refinery demand is seen as being weaker than usual, and propane demand is uncertain.

Tank car sub-lease rates were little changed as the summer doldrums continued to keep action quiet. Surplus pressure tank cars on the Gulf Coast are carrying propane and butane to Mexico.

Source of charts: Energy Transport Insider. Subscribe to Energy Transport Insider’s sub-lease price assessment here: energytransportinsider.com/subscribe.php


STOCK WATCH

Company 12-month chart (as of August ’20) Price (8/17/20) Current Yield 52-Week Low 52-Week High YTD Price
Performance
Ferrellgas – FGP Please Fill Out The Following Fields. $0.39 0.0% 0.14 1.22 15.7%
Suburban Propane – SPH Please Fill Out The Following Fields. 13.27 8.7% 8.64 24.45 (39.3%)

Source: Company data, FactSet and Wells Fargo Securities LLC

Note: Ferrellgas delisted from the New York Stock Exchange in January and now trades on the OTC Markets.

Featured image: iStock.com/MF3d

About the Author:

Sarah Peecher is the Digital Media Content Producer for LP Gas. Her experience includes content creation and strategy for both print and digital media, giving her the skills to share stories on websites and social media platforms.

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