Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Crestwood Equity Partners LP (NYSE:CEQP) by 7.3% during the first quarter, HoldingsChannel.com reports. The fund owned 628,446 shares of the pipeline company’s stock after acquiring an additional 43,027 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Crestwood Equity Partners were worth $22,115,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Raymond James & Associates raised its holdings in Crestwood Equity Partners by 6.0% during the first quarter. Raymond James & Associates now owns 65,441 shares of the pipeline company’s stock worth $2,303,000 after purchasing an additional 3,694 shares in the last quarter. Moors & Cabot Inc. purchased a new position in Crestwood Equity Partners in the first quarter valued at about $220,000. Hartz Capital Inc. purchased a new position in Crestwood Equity Partners in the first quarter valued at about $4,001,000. State of New Jersey Common Pension Fund D increased its holdings in Crestwood Equity Partners by 7.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 161,800 shares of the pipeline company’s stock valued at $5,694,000 after buying an additional 11,000 shares in the last quarter. Finally, Arrow Investment Advisors LLC grew its position in shares of Crestwood Equity Partners by 32.1% in the first quarter. Arrow Investment Advisors LLC now owns 17,177 shares of the pipeline company’s stock valued at $604,000 after purchasing an additional 4,176 shares during the last quarter. 71.61% of the stock is currently owned by institutional investors and hedge funds.
NYSE CEQP opened at $36.06 on Thursday. Crestwood Equity Partners LP has a one year low of $26.55 and a one year high of $40.55. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $2.61 billion, a PE ratio of 171.71, a price-to-earnings-growth ratio of 13.26 and a beta of 2.19.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were issued a $0.60 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.66%. Crestwood Equity Partners’s payout ratio is currently 1,142.86%.
A number of analysts recently issued reports on the stock. TheStreet upgraded shares of Crestwood Equity Partners from a “c+” rating to a “b” rating in a research report on Thursday, April 25th. ValuEngine upgraded shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating in a report on Monday, April 1st. US Capital Advisors reiterated a “hold” rating on shares of Crestwood Equity Partners in a report on Wednesday, February 6th. Finally, Wells Fargo & Co upgraded shares of Crestwood Equity Partners from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 19th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.57.
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Crestwood Equity Partners 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.
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