Brokerages Set Crestwood Equity Partners LP (CEQP) Target Price at $16.38
Shares of Crestwood Equity Partners LP (NYSE:CEQP) have earned a consensus rating of “Hold” from the seven brokerages that are covering the firm. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.38.
Several equities analysts have recently weighed in on CEQP shares. Stifel Nicolaus raised their price target on shares of Crestwood Equity Partners from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Monday, November 7th. Zacks Investment Research cut shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th.
Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Crestwood Equity Partners during the second quarter valued at $165,000. Lucus Advisors LLC bought a new position in Crestwood Equity Partners during the third quarter worth approximately $238,000. Global X Management Co. LLC boosted its position 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 worth $296,000 after buying an additional 10,792 shares during the period. Sigma Planning Corp boosted its position in Crestwood Equity Partners by 27.8% in the second quarter. Sigma Planning Corp now owns 14,899 shares of the company’s stock worth $300,000 after buying an additional 3,242 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Crestwood Equity Partners during the second quarter worth approximately $452,000.
Crestwood Equity Partners (NYSE:CEQP) opened at 21.35 on Monday. The company’s 50-day moving average is $20.71 and its 200 day moving average is $20.70. Crestwood Equity Partners has a 1-year low of $7.90 and a 1-year high of $23.59. The firm’s market capitalization is $1.47 billion.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings results on Friday, November 4th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by $0.06. The firm had revenue of $587.60 million for the quarter, compared to the consensus estimate of $591.83 million. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.18) earnings per share. On average, equities analysts expect that Crestwood Equity Partners will post ($2.26) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were paid a $0.60 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 11.24%.
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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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