Analysts Set Crestwood Equity Partners LP (NYSE:CEQP) Price Target at $29.88

Crestwood Equity Partners LP (NYSE:CEQP – Get Rating) has earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $29.88.

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada cut their price target on shares of Crestwood Equity Partners from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, March 15th. Stifel Nicolaus cut their price target on shares of Crestwood Equity Partners from $30.00 to $29.00 in a report on Wednesday, May 17th. Citigroup cut their price target on shares of Crestwood Equity Partners from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, February 27th. Scotiabank assumed coverage on shares of Crestwood Equity Partners in a report on Wednesday, March 1st. They set a “sector outperform” rating and a $31.00 price target on the stock. Finally, JPMorgan Chase & Co. cut shares of Crestwood Equity Partners from an “overweight” rating to a “neutral” rating and cut their price target for the company from $31.00 to $28.00 in a report on Tuesday, March 14th.

Crestwood Equity Partners Price Performance

Shares of CEQP opened at $24.75 on Tuesday. The stock has a market cap of $2.61 billion, a PE ratio of -275.00 and a beta of 2.51. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.88 and a current ratio of 1.10. Crestwood Equity Partners has a fifty-two week low of $22.11 and a fifty-two week high of $31.46. The firm’s 50-day simple moving average is $24.59 and its two-hundred day simple moving average is $26.22.

Crestwood Equity Partners (NYSE:CEQP – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Crestwood Equity Partners had a net margin of 0.89% and a return on equity of 7.53%. Analysts anticipate that Crestwood Equity Partners will post 1.64 earnings per share for the current fiscal year.

Crestwood Equity Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were given a $0.655 dividend. The ex-dividend date of this dividend was Friday, May 5th. This represents a $2.62 annualized dividend and a yield of 10.59%. Crestwood Equity Partners’s payout ratio is presently -2,911.11%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CEQP. Quadrant Capital Group LLC raised its position in Crestwood Equity Partners by 71.4% in the third quarter. Quadrant Capital Group LLC now owns 922 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 384 shares during the period. Global Retirement Partners LLC increased its stake in shares of Crestwood Equity Partners by 17,483.3% in the first quarter. Global Retirement Partners LLC now owns 1,055 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 1,049 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of Crestwood Equity Partners in the fourth quarter worth $29,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Crestwood Equity Partners in the first quarter worth $48,000. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Crestwood Equity Partners by 28.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,927 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 427 shares in the last quarter. 61.11% of the stock is currently owned by institutional investors.

About Crestwood Equity Partners

(Get Rating)

Crestwood Equity Partners LP engages in investment and management of energy midstream assets. It operates through the following segments: Gathering and Processing, Storage and Transportation, and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering and transportation services, processing, treating, and compression services, and disposal services to producers in unconventional shale plays and tight-gas plays.