Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been assigned a consensus rating of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $36.14.
Several research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Crestwood Equity Partners from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Stifel Nicolaus raised their target price on shares of Crestwood Equity Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Barclays raised their target price on shares of Crestwood Equity Partners from $35.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 29th. SunTrust Banks assumed coverage on shares of Crestwood Equity Partners in a report on Thursday, July 12th. They set a “buy” rating and a $36.00 target price for the company. Finally, Goldman Sachs Group cut shares of Crestwood Equity Partners from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $34.00 to $32.00 in a report on Tuesday, June 26th.
Hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Crestwood Equity Partners during the second quarter valued at $222,000. First Republic Investment Management Inc. acquired a new stake in Crestwood Equity Partners during the second quarter valued at $230,000. Putnam Investments LLC acquired a new stake in Crestwood Equity Partners during the second quarter valued at $518,000. BlackRock Inc. grew its position in shares of Crestwood Equity Partners by 824,250.0% in the second quarter. BlackRock Inc. now owns 16,487 shares of the pipeline company’s stock valued at $523,000 after purchasing an additional 16,485 shares during the period. Finally, Cannell Peter B & Co. Inc. acquired a new stake in shares of Crestwood Equity Partners in the second quarter valued at about $524,000. Institutional investors own 70.53% of the company’s stock.
Shares of NYSE CEQP traded up $0.30 during midday trading on Friday, reaching $38.75. The company had a trading volume of 281,631 shares, compared to its average volume of 546,673. The company has a current ratio of 1.13, a quick ratio of 0.96 and a debt-to-equity ratio of 1.05. Crestwood Equity Partners has a 1 year low of $22.15 and a 1 year high of $40.55. The stock has a market cap of $2.74 billion, a P/E ratio of -33.41, a P/E/G ratio of 82.39 and a beta of 2.64.
Crestwood Equity Partners (NYSE:CEQP) last issued its 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). Crestwood Equity Partners had a negative return on equity of 1.09% and a negative net margin of 4.14%. The business had revenue of $840.50 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned ($0.28) EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. sell-side analysts forecast that Crestwood Equity Partners will post 0.09 earnings per share for the current year.
The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 6th. This represents a $2.40 annualized dividend and a yield of 6.19%. Crestwood Equity Partners’s dividend payout ratio is presently -206.90%.
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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