ValuEngine upgraded shares of Crestwood Equity Partners LP (NYSE:CEQP) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Several other analysts also recently issued reports on the company. BidaskClub downgraded Crestwood Equity Partners from a sell rating to a strong sell rating in a research note on Wednesday, October 18th. Stifel Nicolaus upgraded Crestwood Equity Partners from a hold rating to a buy rating and upped their price target for the stock from $27.00 to $28.00 in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $27.20.

Crestwood Equity Partners (NYSE:CEQP) traded down $0.25 on Tuesday, hitting $24.95. The stock had a trading volume of 228,419 shares, compared to its average volume of 179,510.

Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings results on Tuesday, October 31st. The pipeline company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.65). The company had revenue of $955.60 million for the quarter, compared to the consensus estimate of $830.77 million. Crestwood Equity Partners had a negative return on equity of 3.28% 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 quarter last year, the company posted ($0.14) EPS. equities analysts expect that Crestwood Equity Partners will post -1.42 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, November 6th. This represents a $2.40 annualized dividend and a dividend yield of 9.62%. Crestwood Equity Partners’s dividend payout ratio is presently -85.11%.

In related news, SVP Joel Christian Lambert sold 6,927 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $25.47, for a total transaction of $176,430.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 36.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA acquired a new position in shares of Crestwood Equity Partners during the 3rd quarter worth about $106,000. First Manhattan Co. lifted its position in shares of Crestwood Equity Partners by 91.4% during the 3rd quarter. First Manhattan Co. now owns 38,285 shares of the pipeline company’s stock worth $934,000 after purchasing an additional 18,287 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Crestwood Equity Partners by 11.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 250,883 shares of the pipeline company’s stock worth $6,122,000 after purchasing an additional 26,300 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Crestwood Equity Partners during the 3rd quarter worth about $8,143,000. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Crestwood Equity Partners during the 2nd quarter worth about $1,215,000. 65.65% of the stock is 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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