Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $27.20.
Several analysts have recently weighed in on CEQP shares. BidaskClub lowered Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Stifel Nicolaus set a $27.00 price objective on Crestwood Equity Partners and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, ValuEngine lowered Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Friday, September 8th.
Crestwood Equity Partners (CEQP) traded down $0.25 during trading hours on Friday, hitting $23.35. The stock had a trading volume of 127,600 shares, compared to its average volume of 193,806. Crestwood Equity Partners has a 12 month low of $19.85 and a 12 month high of $28.30. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.91.
Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings data on Tuesday, October 31st. The pipeline company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.65). The firm had revenue of $955.60 million during the quarter, compared to analyst estimates of $830.77 million. Crestwood Equity Partners had a negative net margin of 5.36% and a negative return on equity of 3.34%. The company’s quarterly revenue was up 62.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) EPS. sell-side analysts predict that Crestwood Equity Partners will post -1.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be issued a $0.60 dividend. The ex-dividend date is Monday, November 6th. This represents a $2.40 annualized dividend and a dividend yield of 10.28%. Crestwood Equity Partners’s dividend payout ratio (DPR) is -85.11%.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Crestwood Equity Partners during the third quarter valued at $106,000. Penserra Capital Management LLC lifted its holdings in shares of Crestwood Equity Partners by 520.8% during the second quarter. Penserra Capital Management LLC now owns 5,550 shares of the pipeline company’s stock valued at $129,000 after purchasing an additional 4,656 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Crestwood Equity Partners by 387.9% during the second quarter. Chicago Partners Investment Group LLC now owns 7,729 shares of the pipeline company’s stock valued at $190,000 after purchasing an additional 6,145 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Crestwood Equity Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 12,436 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 696 shares during the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of Crestwood Equity Partners by 6.9% during the second quarter. Sigma Planning Corp now owns 18,164 shares of the pipeline company’s stock valued at $427,000 after purchasing an additional 1,172 shares during the last quarter. 65.65% of the stock is owned by institutional investors and hedge funds.
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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