Crestwood Equity Partners LP (NYSE:CEQP) has been assigned an average rating of “Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $42.71.

CEQP has been the subject of a number of research analyst reports. UBS Group upped their target price on Crestwood Equity Partners from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised shares of Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $44.00 in a report on Friday, August 23rd. Barclays set a $40.00 price objective on shares of Crestwood Equity Partners and gave the stock a “hold” rating in a report on Tuesday, October 15th. Bank of America raised their price objective on shares of Crestwood Equity Partners from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Raymond James raised shares of Crestwood Equity Partners from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Wednesday, October 23rd.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC purchased a new stake in Crestwood Equity Partners in the second quarter worth $33,000. Mascoma Wealth Management LLC acquired a new stake in Crestwood Equity Partners during the 2nd quarter worth approximately $55,000. Toroso Investments LLC acquired a new stake in Crestwood Equity Partners during the 2nd quarter worth approximately $214,000. Marshall Wace LLP acquired a new stake in Crestwood Equity Partners during the 2nd quarter worth approximately $323,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in Crestwood Equity Partners during the 2nd quarter worth approximately $431,000. 72.01% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CEQP traded down $0.12 during mid-day trading on Thursday, hitting $31.94. The company had a trading volume of 361,027 shares, compared to its average volume of 286,343. The business has a fifty day simple moving average of $35.57 and a 200-day simple moving average of $35.81. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 1.73. Crestwood Equity Partners has a 1 year low of $26.55 and a 1 year high of $40.00. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 152.10, a PEG ratio of 5.17 and a beta of 2.00.

Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings data on Tuesday, October 29th. The pipeline company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). The company had revenue of $823.60 million during the quarter, compared to analysts’ expectations of $689.30 million. Crestwood Equity Partners had a net margin of 9.76% and a return on equity of 6.35%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the business earned ($0.34) earnings per share. As a group, research analysts anticipate that Crestwood Equity Partners will post 1.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 6th. This represents a $2.40 annualized dividend and a dividend yield of 7.51%. Crestwood Equity Partners’s dividend payout ratio (DPR) is currently 1,142.86%.

About Crestwood Equity Partners

Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing (G&P); Storage and Transportation (S&T); and Marketing, Supply and Logistics (MS&L). The G&P segment offers gathering and transportation services for natural gas, crude oil, and produced water; and processing, treating, and compression services.

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Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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