Crestwood Equity Partners LP (NYSE:CEQP) Receives $27.40 Average Target Price from Analysts
Crestwood Equity Partners LP (NYSE:CEQP) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.40.
Several equities analysts have recently commented on the stock. Stifel Nicolaus raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating and increased their price target for the stock from $27.00 to $28.00 in a research report on Wednesday, August 2nd. ValuEngine cut shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. Finally, BidaskClub raised shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th.
A number of institutional investors have recently modified their holdings of CEQP. Chicago Partners Investment Group LLC boosted its position in shares of Crestwood Equity Partners by 387.9% in the second quarter. Chicago Partners Investment Group LLC now owns 7,729 shares of the pipeline company’s stock worth $190,000 after buying an additional 6,145 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Crestwood Equity Partners during the first quarter worth about $284,000. Paragon Capital Management Ltd acquired a new position in shares of Crestwood Equity Partners during the first quarter worth about $289,000. Alliancebernstein L.P. boosted its position in shares of Crestwood Equity Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock worth $308,000 after buying an additional 3,390 shares in the last quarter. Finally, Waldron LP acquired a new position in shares of Crestwood Equity Partners during the first quarter worth about $380,000. 64.03% of the stock is currently owned by hedge funds and other institutional investors.
Crestwood Equity Partners (NYSE:CEQP) traded down 1.38% during mid-day trading on Friday, hitting $25.10. The stock had a trading volume of 19,069 shares. Crestwood Equity Partners has a 12-month low of $18.50 and a 12-month high of $28.30. The company has a 50-day moving average of $23.14 and a 200-day moving average of $24.99. The firm’s market cap is $1.76 billion.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.23. Crestwood Equity Partners had a negative return on equity of 1.11% and a negative net margin of 4.68%. The company had revenue of $850.30 million for the quarter, compared to the consensus estimate of $706.34 million. During the same period in the previous year, the business posted ($0.74) EPS. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. Analysts expect that Crestwood Equity Partners will post ($0.61) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 9.43%. Crestwood Equity Partners’s dividend payout ratio is currently -107.14%.
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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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