State of New Jersey Common Pension Fund D increased its position in Crestwood Equity Partners LP (NYSE:CEQP) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,800 shares of the pipeline company’s stock after purchasing an additional 6,800 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.17% of Crestwood Equity Partners worth $4,550,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. acquired a new stake in Crestwood Equity Partners in the second quarter worth about $129,006,000. First Republic Investment Management Inc. acquired a new position in shares of Crestwood Equity Partners during the 2nd quarter worth about $230,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Crestwood Equity Partners during the 2nd quarter worth about $222,000. Renaissance Technologies LLC grew its position in shares of Crestwood Equity Partners by 45.7% during the 2nd quarter. Renaissance Technologies LLC now owns 422,381 shares of the pipeline company’s stock worth $13,411,000 after buying an additional 132,499 shares during the period. Finally, Raymond James & Associates grew its position in shares of Crestwood Equity Partners by 31.7% during the 2nd quarter. Raymond James & Associates now owns 68,741 shares of the pipeline company’s stock worth $2,183,000 after buying an additional 16,548 shares during the period. Hedge funds and other institutional investors own 68.83% of the company’s stock.

NYSE:CEQP opened at $37.15 on Tuesday. Crestwood Equity Partners LP has a fifty-two week low of $22.15 and a fifty-two week high of $40.55. The company has a current ratio of 1.13, a quick ratio of 0.96 and a debt-to-equity ratio of 1.05.

Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings data on Tuesday, July 31st. The pipeline company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.16). Crestwood Equity Partners had a negative net margin of 4.14% and a negative return on equity of 1.09%. The business had revenue of $840.50 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned ($0.28) EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts expect that Crestwood Equity Partners LP will post 0.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend is Tuesday, November 6th. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently -206.90%.

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Crestwood Equity Partners from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 29th. Stifel Nicolaus restated a “hold” rating and set a $38.00 target price on shares of Crestwood Equity Partners in a research report on Monday, September 24th. Bank of America boosted their target price on Crestwood Equity Partners from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. SunTrust Banks set a $40.00 target price on Crestwood Equity Partners and gave the stock a “buy” rating in a research report on Monday, July 23rd. Finally, ValuEngine upgraded Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $36.29.

Crestwood Equity Partners Company 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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Institutional Ownership by Quarter for Crestwood Equity Partners (NYSE:CEQP)

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