Crestwood Equity Partners LP (CEQP) Receives Average Recommendation of “Hold” from Analysts

Crestwood Equity Partners LP (NYSE:CEQP) has been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One 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 12 month target price among brokers that have updated their coverage on the stock in the last year is $33.00.

A number of analysts have recently commented on the stock. ValuEngine raised shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, April 17th. UBS Group reissued a “buy” rating and set a $30.00 target price (up previously from $28.00) on shares of Crestwood Equity Partners in a research note on Wednesday, February 21st. Stifel Nicolaus dropped their price objective on shares of Crestwood Equity Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. TheStreet raised shares of Crestwood Equity Partners from a “d+” rating to a “c” rating in a research note on Tuesday, May 1st. Finally, Barclays set a $31.00 price objective on shares of Crestwood Equity Partners and gave the company a “hold” rating in a research note on Wednesday, March 7th.

In related news, SVP Joel Christian Lambert sold 6,100 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $33.30, for a total transaction of $203,130.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 36.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CEQP. Envestnet Asset Management Inc. purchased a new stake in shares of Crestwood Equity Partners in the 4th quarter valued at approximately $196,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Crestwood Equity Partners in the 4th quarter valued at approximately $279,000. BlackRock Inc. grew its stake in shares of Crestwood Equity Partners by 223.8% in the 4th quarter. BlackRock Inc. now owns 12,226 shares of the pipeline company’s stock valued at $315,000 after buying an additional 8,450 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Crestwood Equity Partners in the 4th quarter valued at approximately $629,000. Finally, Raymond James & Associates grew its stake in shares of Crestwood Equity Partners by 46.1% in the 4th quarter. Raymond James & Associates now owns 50,785 shares of the pipeline company’s stock valued at $1,310,000 after buying an additional 16,015 shares during the period. 66.02% of the stock is owned by institutional investors.

Shares of CEQP stock traded up $1.35 on Thursday, reaching $35.45. 1,001,076 shares of the company were exchanged, compared to its average volume of 288,536. The stock has a market capitalization of $2.43 billion, a P/E ratio of -30.56, a P/E/G ratio of 63.44 and a beta of 2.38. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.95. Crestwood Equity Partners has a 1 year low of $20.00 and a 1 year high of $35.50.

Crestwood Equity Partners (NYSE:CEQP) last released its earnings results on Tuesday, May 1st. The pipeline company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.27. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crestwood Equity Partners had a negative net margin of 3.98% and a negative return on equity of 2.10%. The company’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.62) earnings per share. analysts expect that Crestwood Equity Partners will post 0.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 8th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, May 7th. This represents a $2.40 annualized dividend and a yield of 6.77%. Crestwood Equity Partners’s dividend payout ratio is presently -206.90%.

Crestwood Equity Partners Company Profile

Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing (G&P); Storage and Transportation (S&T); and Marketing, Supply and Logistics (MS&L). The G&P segment offers gathering and transportation services for natural gas, crude oil, and produced water; and processing, treating, and compression services.

Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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