Van ECK Associates Corp reduced its stake in shares of Crestwood Equity Partners LP (NYSE:CEQP) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,351 shares of the pipeline company’s stock after selling 7,303 shares during the quarter. Van ECK Associates Corp owned 0.08% of Crestwood Equity Partners worth $1,301,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CEQP. Center Coast Capital Advisors LP grew its stake in shares of Crestwood Equity Partners by 9.7% in the second quarter. Center Coast Capital Advisors LP now owns 2,658,700 shares of the pipeline company’s stock worth $62,479,000 after purchasing an additional 236,059 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Crestwood Equity Partners by 1.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,750,539 shares of the pipeline company’s stock worth $41,136,000 after purchasing an additional 27,500 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Crestwood Equity Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock worth $308,000 after purchasing an additional 3,390 shares during the last quarter. Waldron LP bought a new stake in shares of Crestwood Equity Partners in the first quarter worth about $380,000. Finally, Chicago Partners Investment Group LLC grew its stake in shares of 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 worth $190,000 after purchasing an additional 6,145 shares during the last quarter. 65.15% of the stock is currently owned by hedge funds and other institutional investors.

In other Crestwood Equity Partners news, SVP Joel Christian Lambert sold 6,927 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $25.47, for a total value of $176,430.69. The sale was disclosed in a filing with the SEC, which is available through this link. 36.20% of the stock is owned by corporate insiders.

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Shares of Crestwood Equity Partners LP (NYSE CEQP) opened at 25.00 on Thursday. The stock’s market capitalization is $1.74 billion. Crestwood Equity Partners LP has a one year low of $18.51 and a one year high of $28.30. The firm has a 50-day moving average of $24.89 and a 200 day moving average of $24.50.

Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.23). The firm 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 1.13%. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.74) earnings per share. On average, equities research analysts predict that Crestwood Equity Partners LP will post ($0.97) EPS for the current year.

Several analysts recently issued reports on the company. ValuEngine cut Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. Stifel Nicolaus raised Crestwood Equity Partners from a “hold” rating to a “buy” rating and raised their target price for the stock from $27.00 to $28.00 in a research note on Wednesday, August 2nd. Finally, BidaskClub raised Crestwood Equity Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Crestwood Equity Partners presently has an average rating of “Hold” and a consensus target price of $27.40.

Crestwood Equity Partners Profile

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.

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Institutional Ownership by Quarter for Crestwood Equity Partners (NYSE:CEQP)

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