Crestwood Equity Partners LP (NYSE:CEQP) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been assigned an average rating of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $27.40.
Several brokerages recently issued reports on CEQP. Stifel Nicolaus raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating and lifted their price target for the company from $27.00 to $28.00 in a report on Wednesday. BidaskClub raised shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, ValuEngine lowered shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd.
Large investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its stake in Crestwood Equity Partners by 387.9% in the second quarter. Chicago Partners Investment Group LLC now owns 7,729 shares of the pipeline company’s stock valued at $190,000 after buying an additional 6,145 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Crestwood Equity Partners during the first quarter valued at approximately $284,000. Paragon Capital Management Ltd acquired a new stake in Crestwood Equity Partners during the first quarter valued at approximately $289,000. Alliancebernstein L.P. increased its stake in Crestwood Equity Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock valued at $308,000 after buying an additional 3,390 shares in the last quarter. Finally, Waldron LP acquired a new stake in Crestwood Equity Partners during the first quarter valued at approximately $380,000. Institutional investors and hedge funds own 63.69% of the company’s stock.
Shares of Crestwood Equity Partners (NYSE CEQP) traded up 0.39% during trading on Friday, hitting $25.45. 171,415 shares of the stock were exchanged. The firm’s market capitalization is $1.78 billion. The firm has a 50 day moving average price of $23.14 and a 200 day moving average price of $24.99. Crestwood Equity Partners has a 52 week low of $18.50 and a 52 week high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings results on Tuesday, August 1st. The pipeline company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.23. The company had revenue of $850.30 million for the quarter, compared to the consensus estimate of $706.34 million. Crestwood Equity Partners had a negative net margin of 4.68% and a negative return on equity of 1.11%. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.74) earnings per share. Analysts forecast that Crestwood Equity Partners will post ($0.61) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.40 annualized dividend and a yield of 9.43%. Crestwood Equity Partners’s dividend payout ratio is presently -107.14%.
About Crestwood Equity Partners
Crestwood Equity Partners LP is a holding company and a master limited partnership (MLP). The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. The Company’s 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.
Receive News & Stock Ratings for Crestwood Equity Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crestwood Equity Partners LP and related stocks with our FREE daily email newsletter.