Inergy (NYSE:CEQP) was upgraded by stock analysts at TheStreet from a “d+” rating to a “c” rating in a report released on Tuesday, May 1st.
A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Inergy from $32.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. ValuEngine cut shares of Inergy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Barclays set a $31.00 target price on shares of Inergy and gave the stock a “hold” rating in a report on Wednesday, March 7th. UBS reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $28.00) on shares of Inergy in a report on Wednesday, February 21st. Finally, Capital One raised shares of Inergy from an “equal weight” rating to an “overweight” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.00.
Shares of Inergy opened at $30.65 on Tuesday, MarketBeat reports. Inergy has a one year low of $29.70 and a one year high of $30.33. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.95.
Inergy (NYSE:CEQP) last released its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. Inergy had a negative net margin of 3.98% and a negative return on equity of 2.10%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $960.81 million. sell-side analysts forecast that Inergy will post 0.11 earnings per share for the current fiscal year.
In other news, CFO Robert Thornbury Halpin III bought 3,500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $27.50 per share, for a total transaction of $96,250.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 36.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. purchased a new stake in shares of Inergy in the 4th quarter valued at approximately $196,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Inergy during the 4th quarter worth approximately $279,000. BlackRock Inc. increased its stake in Inergy by 223.8% during the 4th quarter. BlackRock Inc. now owns 12,226 shares of the pipeline company’s stock worth $315,000 after buying an additional 8,450 shares during the period. Paragon Capital Management Ltd increased its stake in Inergy by 41.0% during the 4th quarter. Paragon Capital Management Ltd now owns 17,200 shares of the pipeline company’s stock worth $444,000 after buying an additional 5,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Inergy during the 4th quarter worth approximately $629,000. 64.06% of the stock is currently owned by institutional investors and hedge funds.
Inergy Company Profile
Crestwood Equity Partners LP owns and operates energy midstream infrastructure and engages in the natural gas liquids marketing, supply and logistics business. It operates through three segments: Gathering and Processing; Storage and Transportation; and Marketing, Supply and Logistics. The Gathering and Processing segment provides gathering and transportation services and processing, treating and compression services to producers in unconventional shale plays and tight-gas plays in North Dakota, West Virginia, Texas, New Mexico, Wyoming, Arkansas, and Louisiana.
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