First Manhattan Co. cut its stake in shares of Crestwood Equity Partners LP (NYSE:CEQP) by 37.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,998 shares of the pipeline company’s stock after selling 12,166 shares during the period. First Manhattan Co.’s holdings in Crestwood Equity Partners were worth $469,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its stake in Crestwood Equity Partners by 4.3% in the first quarter. Global X Management Co. LLC now owns 17,803 shares of the pipeline company’s stock valued at $467,000 after buying an additional 734 shares during the last quarter. Creative Planning increased its stake in Crestwood Equity Partners by 6.4% in the first quarter. Creative Planning now owns 26,837 shares of the pipeline company’s stock valued at $704,000 after buying an additional 1,613 shares during the last quarter. Sigma Planning Corp increased its stake in Crestwood Equity Partners by 15.7% in the first quarter. Sigma Planning Corp now owns 16,992 shares of the pipeline company’s stock valued at $446,000 after buying an additional 2,307 shares during the last quarter. Alliancebernstein L.P. increased its stake in Crestwood Equity Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock valued at $308,000 after buying an additional 3,390 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Crestwood Equity Partners by 0.3% in the first quarter. Bank of Montreal Can now owns 1,122,909 shares of the pipeline company’s stock valued at $29,476,000 after buying an additional 3,909 shares during the last quarter. 64.03% of the stock is owned by institutional investors.

Shares of Crestwood Equity Partners LP (NYSE:CEQP) opened at 24.85 on Wednesday. The firm’s market cap is $1.74 billion. The firm’s 50-day moving average price is $23.46 and its 200 day moving average price is $25.00. Crestwood Equity Partners LP has a one year low of $18.51 and a one year high of $28.30.

Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings data on Tuesday, August 1st. The pipeline company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.23. The business had revenue of $850.30 million during the quarter, compared to the consensus estimate of $706.34 million. Crestwood Equity Partners had a negative net margin of 4.68% and a negative return on equity of 1.13%. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.74) EPS. Analysts predict that Crestwood Equity Partners LP will post ($0.73) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid 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 9.66%. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently -107.14%.

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Several equities research analysts have recently commented on the company. BidaskClub raised Crestwood Equity Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Stifel Nicolaus reissued a “hold” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Crestwood Equity Partners in a report on Thursday, May 4th. Finally, ValuEngine downgraded Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Crestwood Equity Partners has an average rating of “Hold” and a consensus price target of $27.40.

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

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