Crestwood Equity Partners LP (NYSE:CEQP) Stock Position Cut by Sigma Planning Corp

Sigma Planning Corp lessened its stake in Crestwood Equity Partners LP (NYSE:CEQP) by 12.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,415 shares of the pipeline company’s stock after selling 1,796 shares during the quarter. Sigma Planning Corp’s holdings in Crestwood Equity Partners were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Squar Milner Financial Services LLC bought a new position in Crestwood Equity Partners in the 2nd quarter valued at about $33,000. Mascoma Wealth Management LLC bought a new position in Crestwood Equity Partners in the 2nd quarter valued at about $55,000. Toroso Investments LLC bought a new position in Crestwood Equity Partners in the 2nd quarter valued at about $214,000. Marshall Wace LLP bought a new position in Crestwood Equity Partners in the 2nd quarter valued at about $323,000. Finally, BNP Paribas Arbitrage SA bought a new position in Crestwood Equity Partners in the 2nd quarter valued at about $431,000. Hedge funds and other institutional investors own 72.01% of the company’s stock.

Shares of NYSE:CEQP traded down $0.12 during trading hours on Friday, hitting $31.94. 361,027 shares of the company’s stock traded hands, compared to its average volume of 286,343. Crestwood Equity Partners LP has a 52 week low of $26.55 and a 52 week high of $40.00. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.88 and a current ratio of 0.99. The company’s fifty day simple moving average is $35.57 and its two-hundred day simple moving average is $35.81. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 152.10, a price-to-earnings-growth ratio of 5.17 and a beta of 2.00.

Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings data on Tuesday, October 29th. The pipeline company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.03). Crestwood Equity Partners had a net margin of 9.76% and a return on equity of 6.35%. The business had revenue of $823.60 million for the quarter, compared to the consensus estimate of $689.30 million. During the same quarter last year, the business posted ($0.34) EPS. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, analysts anticipate that Crestwood Equity Partners LP will post 1.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 6th. This represents a $2.40 annualized dividend and a dividend yield of 7.51%. Crestwood Equity Partners’s dividend payout ratio (DPR) is 1,142.86%.

A number of equities analysts recently issued reports on the stock. Barclays set a $40.00 target price on shares of Crestwood Equity Partners and gave the company a “hold” rating in a research report on Tuesday, October 15th. Royal Bank of Canada upgraded shares of Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $40.00 to $44.00 in a research report on Friday, August 23rd. Stifel Nicolaus upgraded shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating and increased their target price for the company from $37.00 to $46.00 in a research report on Wednesday, July 31st. Bank of America increased their target price on shares of Crestwood Equity Partners from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Raymond James upgraded shares of Crestwood Equity Partners from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Crestwood Equity Partners has a consensus rating of “Buy” and a consensus price target of $42.71.

About Crestwood Equity Partners

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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Institutional Ownership by Quarter for Crestwood Equity Partners (NYSE:CEQP)

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