Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $35.57.
A number of research firms recently weighed in on CEQP. Bank of America lifted their target price on Crestwood Equity Partners from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Stifel Nicolaus lifted their target price on Crestwood Equity Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. SunTrust Banks set a $40.00 target price on Crestwood Equity Partners and gave the stock a “buy” rating in a research report on Monday, July 23rd. Barclays lifted their target price on Crestwood Equity Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. Finally, Goldman Sachs Group downgraded Crestwood Equity Partners from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, June 26th.
Shares of NYSE:CEQP traded up $0.65 during midday trading on Tuesday, hitting $38.85. The company’s stock had a trading volume of 538,174 shares, compared to its average volume of 371,739. The company has a market cap of $2.71 billion, a P/E ratio of -33.49, a P/E/G ratio of 81.43 and a beta of 2.63. Crestwood Equity Partners has a fifty-two week low of $22.15 and a fifty-two week high of $39.05. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 1.13.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings results on Tuesday, July 31st. The pipeline company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.16). The business had revenue of $840.50 million during the quarter, compared to analyst estimates of $1.03 billion. Crestwood Equity Partners had a negative net margin of 4.14% and a negative return on equity of 1.09%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.28) earnings per share. equities analysts predict that Crestwood Equity Partners will post 0.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend was Monday, August 6th. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently -206.90%.
In related news, SVP Joel Christian Lambert sold 6,100 shares of Crestwood Equity Partners stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $33.30, for a total transaction of $203,130.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 36.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Global X Management Co LLC bought a new position in Crestwood Equity Partners during the second quarter worth about $1,123,000. Advisors Asset Management Inc. lifted its stake in Crestwood Equity Partners by 8,381.7% during the second quarter. Advisors Asset Management Inc. now owns 1,111,527 shares of the pipeline company’s stock worth $723,000 after purchasing an additional 1,098,422 shares during the period. Castleark Management LLC lifted its stake in Crestwood Equity Partners by 42.2% during the second quarter. Castleark Management LLC now owns 60,770 shares of the pipeline company’s stock worth $1,929,000 after purchasing an additional 18,020 shares during the period. Putnam Investments LLC bought a new position in Crestwood Equity Partners during the second quarter worth about $518,000. Finally, Highland Capital Management LP lifted its stake in Crestwood Equity Partners by 126.7% during the second quarter. Highland Capital Management LP now owns 68,416 shares of the pipeline company’s stock worth $2,172,000 after purchasing an additional 38,234 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.
Crestwood Equity Partners Company Profile
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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