Crestwood Equity Partners LP (CEQP) Rating Lowered to Sell at ValuEngine
ValuEngine lowered shares of Crestwood Equity Partners LP (NYSE:CEQP) from a hold rating to a sell rating in a research report released on Friday.
Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Crestwood Equity Partners from a sell rating to a hold rating in a research report on Wednesday, July 5th. Stifel Nicolaus upgraded shares of Crestwood Equity Partners from a hold rating to a buy rating and lifted their target price for the stock from $27.00 to $28.00 in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $27.40.
Shares of Crestwood Equity Partners (CEQP) opened at 24.90 on Friday. The company’s market cap is $1.73 billion. The company has a 50 day moving average of $24.84 and a 200 day moving average of $24.56. Crestwood Equity Partners has a 52 week low of $18.50 and a 52 week high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last issued its earnings results on Tuesday, August 1st. The pipeline company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.23. The business had revenue of $850.30 million during the quarter, compared to analysts’ expectations of $706.34 million. Crestwood Equity Partners had a negative return on equity of 1.13% and a negative net margin of 4.68%. Crestwood Equity Partners’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.74) EPS. On average, analysts expect that Crestwood Equity Partners will post ($0.97) EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 9.64%. The ex-dividend date was Thursday, August 3rd. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently -107.14%.
In other Crestwood Equity Partners news, SVP Joel Christian Lambert sold 6,927 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $25.47, for a total value of $176,430.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 36.20% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Penserra Capital Management LLC grew its holdings in Crestwood Equity Partners by 520.8% in the 2nd quarter. Penserra Capital Management LLC now owns 5,550 shares of the pipeline company’s stock worth $129,000 after acquiring an additional 4,656 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Crestwood Equity Partners by 387.9% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 7,729 shares of the pipeline company’s stock worth $190,000 after acquiring an additional 6,145 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Crestwood Equity Partners in the 1st quarter worth $284,000. Alliancebernstein L.P. grew its holdings in Crestwood Equity Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 12,436 shares of the pipeline company’s stock worth $292,000 after acquiring an additional 696 shares during the last quarter. Finally, Waldron LP bought a new stake in Crestwood Equity Partners in the 1st quarter worth $380,000. 65.15% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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