Insider Selling: Crestwood Equity Partners LP (CEQP) SVP Sells 6,927 Shares of Stock
Crestwood Equity Partners LP (NYSE:CEQP) 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 filing with the Securities & Exchange Commission, which is available through this link.
Crestwood Equity Partners LP (NYSE:CEQP) traded up 1.41% on Friday, hitting $25.10. 235,259 shares of the stock traded hands. The stock has a 50-day moving average of $23.94 and a 200-day moving average of $24.93. Crestwood Equity Partners LP has a 12-month low of $18.51 and a 12-month high of $28.30. The firm’s market cap is $1.75 billion.
Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings data on Tuesday, August 1st. The pipeline company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.23. Crestwood Equity Partners had a negative net margin of 4.68% and a negative return on equity of 1.13%. The business had revenue of $850.30 million during the quarter, compared to analyst estimates of $706.34 million. During the same quarter in the prior year, the company posted ($0.74) EPS. The company’s quarterly revenue was up 41.3% compared to the same quarter last year. Analysts forecast that Crestwood Equity Partners LP will post ($0.94) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.56%. The ex-dividend date is Thursday, August 3rd. Crestwood Equity Partners’s dividend payout ratio is -107.14%.
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Several institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of Crestwood Equity Partners by 6.4% in the first quarter. Creative Planning now owns 26,837 shares of the pipeline company’s stock worth $704,000 after buying an additional 1,613 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Crestwood Equity Partners by 0.3% in the first quarter. Bank of Montreal Can now owns 1,122,909 shares of the pipeline company’s stock worth $29,476,000 after buying an additional 3,909 shares in the last quarter. Hollencrest Securities LLC acquired a new position in shares of Crestwood Equity Partners during the first quarter worth about $948,000. NBW Capital LLC boosted its position in shares of Crestwood Equity Partners by 12.0% in the first quarter. NBW Capital LLC now owns 280,989 shares of the pipeline company’s stock worth $7,376,000 after buying an additional 30,173 shares in the last quarter. Finally, Waldron LP acquired a new position in shares of Crestwood Equity Partners during the first quarter worth about $380,000. Institutional investors own 64.03% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Wednesday, August 2nd. BidaskClub raised shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, ValuEngine lowered shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Crestwood Equity Partners currently has a consensus rating of “Hold” and a consensus price target of $27.40.
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.
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