Crestwood Equity Partners LP (CEQP) Given Average Recommendation of “Hold” by Brokerages
Crestwood Equity Partners LP (NYSE:CEQP) has earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.17.
Several research analysts have weighed in on the company. Stifel Nicolaus downgraded Crestwood Equity Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Capital One Financial Corp. restated an “equal weight” rating on shares of Crestwood Equity Partners in a research note on Monday, June 20th. Zacks Investment Research downgraded Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Barclays PLC restated an “underweight” rating and issued a $22.00 price target on shares of Crestwood Equity Partners in a research note on Tuesday, June 21st.
Several hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Crestwood Equity Partners during the second quarter valued at about $165,000. Royal Bank of Canada raised its stake in Crestwood Equity Partners by 10.5% in the first quarter. Royal Bank of Canada now owns 24,317 shares of the company’s stock valued at $283,000 after buying an additional 2,304 shares during the last quarter. Global X Management Co. LLC raised its stake in Crestwood Equity Partners by 276.0% in the second quarter. Global X Management Co. LLC now owns 14,702 shares of the company’s stock valued at $296,000 after buying an additional 10,792 shares during the last quarter. Sigma Planning Corp raised its stake in Crestwood Equity Partners by 27.8% in the second quarter. Sigma Planning Corp now owns 14,899 shares of the company’s stock valued at $300,000 after buying an additional 3,242 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Crestwood Equity Partners during the second quarter valued at $452,000.
Shares of Crestwood Equity Partners (NYSE:CEQP) traded up 0.763% during trading on Monday, reaching $20.475. 100,975 shares of the company’s stock were exchanged. Crestwood Equity Partners has a 12 month low of $7.90 and a 12 month high of $30.80. The firm’s market cap is $1.41 billion. The stock has a 50-day moving average price of $20.76 and a 200 day moving average price of $19.33.
Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.84. The business earned $601.90 million during the quarter, compared to analyst estimates of $521.23 million. During the same period last year, the firm earned ($0.21) EPS. Crestwood Equity Partners’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, analysts forecast that Crestwood Equity Partners will post ($2.32) EPS for the current year.
About Crestwood Equity Partners
Crestwood Equity Partners LP is a holding and master limited partnership (MLP) company. The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. Its segments include gathering and processing (G&P), which includes its natural gas, crude oil and produced water G&P operations; storage and transportation, which includes its natural gas and crude oil storage and transportation operations, and marketing, supply and logistics, which includes its natural gas liquid (NGL) supply and logistics business, crude oil storage and rail loading facilities and fleet, and salt production business.
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