StockNews.com Begins Coverage on Crestwood Equity Partners (NYSE:CEQP)

StockNews.com began coverage on shares of Crestwood Equity Partners (NYSE:CEQP – Get Rating) in a research note released on Thursday morning. The brokerage issued a hold rating on the pipeline company’s stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company cut their price objective on Crestwood Equity Partners from $35.00 to $32.00 and set an overweight rating for the company in a report on Wednesday, March 8th. Citigroup reduced their target price on Crestwood Equity Partners from $31.00 to $30.00 and set a buy rating for the company in a report on Monday, February 27th. JPMorgan Chase & Co. downgraded Crestwood Equity Partners from an overweight rating to a neutral rating and reduced their target price for the company from $31.00 to $28.00 in a report on Tuesday, March 14th. US Capital Advisors downgraded Crestwood Equity Partners from a buy rating to a hold rating in a report on Tuesday, January 31st. Finally, Raymond James reduced their target price on Crestwood Equity Partners from $35.00 to $32.00 and set an outperform rating for the company in a report on Monday, January 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Crestwood Equity Partners presently has an average rating of Moderate Buy and an average price target of $30.33.

Crestwood Equity Partners Stock Performance

Shares of Crestwood Equity Partners stock opened at $23.18 on Thursday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.04 and a current ratio of 1.28. The business has a fifty day simple moving average of $26.09 and a 200-day simple moving average of $27.67. Crestwood Equity Partners has a fifty-two week low of $22.23 and a fifty-two week high of $32.96.

Crestwood Equity Partners (NYSE:CEQP – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The pipeline company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. Crestwood Equity Partners had a return on equity of 6.31% and a net margin of 0.52%. Research analysts predict that Crestwood Equity Partners will post 1.68 earnings per share for the current year.

Crestwood Equity Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, February 7th were given a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 11.30%. The ex-dividend date of this dividend was Monday, February 6th. Crestwood Equity Partners’s payout ratio is -935.68%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in Crestwood Equity Partners by 71.4% during the third quarter. Quadrant Capital Group LLC now owns 922 shares of the pipeline company’s stock valued at $26,000 after buying an additional 384 shares during the period. Fiduciary Alliance LLC acquired a new position in Crestwood Equity Partners in the 4th quarter worth about $29,000. Rockefeller Capital Management L.P. increased its position in Crestwood Equity Partners by 28.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,927 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 427 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Crestwood Equity Partners by 629.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,385 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 2,921 shares during the last quarter. Finally, Frontier Wealth Management LLC acquired a new position in Crestwood Equity Partners in the 1st quarter worth about $202,000. 61.11% of the stock is owned by institutional investors and hedge funds.

About Crestwood Equity Partners

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Crestwood Equity Partners LP engages in investment and management of energy midstream assets. It operates through the following segments: Gathering and Processing, Storage and Transportation, and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering and transportation services, processing, treating, and compression services, and disposal services to producers in unconventional shale plays and tight-gas plays.