Catalyst Capital Advisors LLC Purchases 17,950 Shares of Crestwood Equity Partners LP (CEQP)
Catalyst Capital Advisors LLC boosted its stake in Crestwood Equity Partners LP (NYSE:CEQP) by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 263,546 shares of the pipeline company’s stock after buying an additional 17,950 shares during the period. Catalyst Capital Advisors LLC’s holdings in Crestwood Equity Partners were worth $6,193,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its stake 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 valued at $190,000 after buying an additional 6,145 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $284,000. Paragon Capital Management Ltd purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $289,000. Alliancebernstein L.P. boosted its stake 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 valued at $308,000 after buying an additional 3,390 shares during the last quarter. Finally, Waldron LP purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $380,000. 64.03% of the stock is currently owned by institutional investors.
Shares of Crestwood Equity Partners LP (CEQP) opened at 25.10 on Friday. Crestwood Equity Partners LP has a 52 week low of $18.51 and a 52 week high of $28.30. The company has a 50-day moving average price of $24.06 and a 200 day moving average price of $24.92. The stock’s market capitalization is $1.75 billion.
Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings data on Tuesday, August 1st. The pipeline company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.23. The firm had revenue of $850.30 million for the quarter, compared to analysts’ expectations of $706.34 million. Crestwood Equity Partners had a negative return on equity of 1.13% and a negative net margin of 4.68%. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.74) earnings per share. Equities analysts forecast that Crestwood Equity Partners LP will post ($0.94) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.40 annualized dividend and a yield of 9.56%. Crestwood Equity Partners’s payout ratio is currently -107.14%.
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Several brokerages recently weighed in on CEQP. Stifel Nicolaus raised Crestwood Equity Partners from a “hold” rating to a “buy” rating and upped their price target for the stock from $27.00 to $28.00 in a research note on Wednesday, August 2nd. ValuEngine cut Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. Finally, BidaskClub raised Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Crestwood Equity Partners currently has a consensus rating of “Hold” and an average price target of $27.40.
In other Crestwood Equity Partners news, SVP Joel Christian Lambert sold 6,927 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $25.47, for a total transaction of $176,430.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 36.20% of the company’s stock.
About Crestwood Equity Partners
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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