Crestwood Equity Partners LP (CEQP) Receives Consensus Rating of “Hold” from Analysts

Crestwood Equity Partners LP (NYSE:CEQP) has received an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.75.

CEQP has been the topic of a number of research reports. BidaskClub lowered shares of Crestwood Equity Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 18th. UBS Group upgraded shares of Crestwood Equity Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $26.00 to $27.00 in a research note on Monday, December 4th. Stifel Nicolaus set a $27.00 price objective on shares of Crestwood Equity Partners and gave the company a “buy” rating in a research note on Tuesday, October 31st. ValuEngine upgraded shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Wells Fargo & Co upgraded shares of Crestwood Equity Partners from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $32.00 in a research note on Thursday, January 11th.

Shares of Crestwood Equity Partners (NYSE CEQP) traded up $0.05 during trading hours on Friday, hitting $28.25. 57,999 shares of the stock were exchanged, compared to its average volume of 302,351. The stock has a market capitalization of $1,980.00, a price-to-earnings ratio of -10.01 and a beta of 2.49. Crestwood Equity Partners has a fifty-two week low of $20.00 and a fifty-two week high of $29.25. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.91.

Crestwood Equity Partners (NYSE:CEQP) last issued its earnings results on Tuesday, October 31st. The pipeline company reported ($0.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.65). The company had revenue of $955.60 million for the quarter, compared to analysts’ expectations of $830.77 million. Crestwood Equity Partners had a negative return on equity of 3.34% and a negative net margin of 5.36%. The business’s revenue was up 62.6% compared to the same quarter last year. During the same period last year, the business posted ($0.14) earnings per share. sell-side analysts expect that Crestwood Equity Partners will post -1.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, February 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.50%. Crestwood Equity Partners’s dividend payout ratio is presently -85.11%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paragon Capital Management Ltd boosted its stake in Crestwood Equity Partners by 41.0% in the fourth quarter. Paragon Capital Management Ltd now owns 17,200 shares of the pipeline company’s stock valued at $444,000 after acquiring an additional 5,000 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in Crestwood Equity Partners in the fourth quarter valued at approximately $1,518,000. GSA Capital Partners LLP boosted its stake in Crestwood Equity Partners by 722.0% in the third quarter. GSA Capital Partners LLP now owns 88,702 shares of the pipeline company’s stock valued at $2,164,000 after acquiring an additional 77,911 shares in the last quarter. Green Square Capital LLC acquired a new stake in Crestwood Equity Partners in the third quarter valued at approximately $201,000. Finally, California Public Employees Retirement System boosted its stake in Crestwood Equity Partners by 3.0% in the third quarter. California Public Employees Retirement System now owns 118,177 shares of the pipeline company’s stock valued at $2,884,000 after acquiring an additional 3,425 shares in the last quarter. Hedge funds and other institutional investors own 65.45% of the company’s stock.

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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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