Crestwood Equity Partners LP (NYSE:CEQP) announced a quarterly dividend on Friday, April 21st. Stockholders of record on Monday, May 8th will be given a dividend of 0.60 per share by the pipeline company on Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.50%. The ex-dividend date of this dividend is Thursday, May 4th.
Crestwood Equity Partners has raised its dividend payment by an average of 33.0% annually over the last three years. Crestwood Equity Partners has a payout ratio of -1,090.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Crestwood Equity Partners to earn ($0.08) per share next year, which means the company may not be able to cover its $2.40 annual dividend with an expected future payout ratio of -3,000.0%.
Crestwood Equity Partners (NYSE:CEQP) traded down 0.20% during midday trading on Friday, hitting $25.25. The stock had a trading volume of 70,151 shares. The company has a 50-day moving average price of $25.82 and a 200-day moving average price of $24.25. The stock’s market cap is $1.76 billion. Crestwood Equity Partners has a 52 week low of $16.15 and a 52 week high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings results on Tuesday, February 21st. The pipeline company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of $0.16 by $1.36. Crestwood Equity Partners had a negative net margin of 66.64% and a negative return on equity of 5.72%. The business earned $795 million during the quarter, compared to analysts’ expectations of $671.43 million. During the same period in the previous year, the business earned ($20.77) EPS. The business’s revenue was up 26.4% on a year-over-year basis. Equities analysts expect that Crestwood Equity Partners will post ($0.03) EPS for the current year.
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Several research firms have weighed in on CEQP. UBS Group AG reaffirmed a “neutral” rating and issued a $25.00 price target (up previously from $20.00) on shares of Crestwood Equity Partners in a report on Wednesday, March 8th. Wood & Company raised Crestwood Equity Partners from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Thursday, January 12th. Raymond James Financial, Inc. raised Crestwood Equity Partners from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Thursday, January 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $26.00 price target (up previously from $22.00) on shares of Crestwood Equity Partners in a report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Crestwood Equity Partners has an average rating of “Hold” and a consensus price target of $26.17.
Crestwood Equity Partners Company 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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