Crestwood Equity Partners LP (CEQP) Receives $36.75 Average Target Price from Analysts

Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been given a consensus recommendation of “Buy” by the eleven analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $37.50.

Several research firms recently commented on CEQP. Bank of America began coverage on Crestwood Equity Partners in a report on Tuesday, July 10th. They set a “buy” rating and a $34.00 target price on the stock. Barclays raised their target price on Crestwood Equity Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 11th. SunTrust Banks began coverage on Crestwood Equity Partners in a report on Thursday, July 12th. They set a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus raised their target price on Crestwood Equity Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, ValuEngine raised Crestwood Equity Partners from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd.

Shares of CEQP stock traded down $0.44 during mid-day trading on Friday, reaching $32.65. The stock had a trading volume of 475,355 shares, compared to its average volume of 231,790. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 1.13. The firm has a market capitalization of $2.33 billion, a PE ratio of -28.15 and a beta of 2.46. Crestwood Equity Partners has a 1-year low of $22.15 and a 1-year high of $40.55.

Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings data on Tuesday, October 30th. The pipeline company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.32). The firm had revenue of $930.20 million during the quarter, compared to analyst estimates of $845.40 million. Crestwood Equity Partners had a negative net margin of 3.53% and a positive return on equity of 0.58%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.72) earnings per share. Sell-side analysts forecast that Crestwood Equity Partners will post -0.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $2.40 dividend on an annualized basis and a yield of 7.35%. Crestwood Equity Partners’s dividend payout ratio is currently -206.90%.

A number of hedge funds have recently modified their holdings of CEQP. Alps Advisors Inc. purchased a new position in Crestwood Equity Partners during the second quarter worth approximately $129,006,000. Advisors Asset Management Inc. boosted its position 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 in the last quarter. Perella Weinberg Partners Capital Management LP boosted its position in Crestwood Equity Partners by 139.3% during the second quarter. Perella Weinberg Partners Capital Management LP now owns 1,155,129 shares of the pipeline company’s stock worth $36,675,000 after purchasing an additional 672,466 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Crestwood Equity Partners during the second quarter worth approximately $10,945,000. Finally, Wells Fargo & Company MN boosted its position in Crestwood Equity Partners by 142.7% during the third quarter. Wells Fargo & Company MN now owns 471,942 shares of the pipeline company’s stock worth $17,344,000 after purchasing an additional 277,496 shares in the last quarter. Institutional investors own 68.75% 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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Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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