Crestwood Equity Partners (CEQP) Earns Buy Rating from UBS Group
UBS Group reissued their buy rating on shares of Crestwood Equity Partners (NYSE:CEQP) in a research report released on Friday morning, www.benzinga.com reports. The brokerage currently has a $34.00 price objective on the pipeline company’s stock, up from their previous price objective of $30.00.
Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Crestwood Equity Partners from $30.00 to $32.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Capital One Financial raised shares of Crestwood Equity Partners from an equal weight rating to an overweight rating in a research note on Friday, January 26th. Barclays raised shares of Crestwood Equity Partners from an underweight rating to an equal weight rating and upped their price objective for the company from $25.00 to $30.00 in a research note on Wednesday, January 17th. Finally, Wells Fargo & Co raised shares of Crestwood Equity Partners from a market perform rating to an outperform rating and upped their price objective for the company from $28.00 to $32.00 in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $32.00.
Shares of Crestwood Equity Partners (NYSE CEQP) traded up $0.50 on Friday, hitting $27.15. 179,172 shares of the company traded hands, compared to its average volume of 243,279. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $1,910.00, a P/E ratio of -7.56 and a beta of 2.37. Crestwood Equity Partners has a fifty-two week low of $20.00 and a fifty-two week high of $29.25.
In other news, CFO Robert Thornbury Halpin III acquired 3,500 shares of Crestwood Equity Partners stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $27.50 per share, with a total value of $96,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 36.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Alliancebernstein L.P. raised its stake in Crestwood Equity Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 12,436 shares of the pipeline company’s stock worth $292,000 after purchasing an additional 696 shares during the period. California Public Employees Retirement System raised its stake in Crestwood Equity Partners by 3.0% during the third quarter. California Public Employees Retirement System now owns 118,177 shares of the pipeline company’s stock worth $2,884,000 after purchasing an additional 3,425 shares during the period. BNP Paribas Arbitrage SA purchased a new position in Crestwood Equity Partners during the third quarter worth approximately $106,000. Paragon Capital Management Ltd raised its stake in Crestwood Equity Partners by 41.0% during the fourth quarter. Paragon Capital Management Ltd now owns 17,200 shares of the pipeline company’s stock worth $444,000 after purchasing an additional 5,000 shares during the period. Finally, Arrow Investment Advisors LLC raised its stake in Crestwood Equity Partners by 26.7% during the third quarter. Arrow Investment Advisors LLC now owns 34,120 shares of the pipeline company’s stock worth $833,000 after purchasing an additional 7,199 shares during the period. 64.44% of the stock is currently owned by institutional investors.
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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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