Several other research firms also recently weighed in on CEQP. UBS Group lifted their target price on shares of Crestwood Equity Partners from $43.00 to $44.00 and gave the stock a buy rating in a research report on Wednesday, October 30th. Barclays set a $40.00 price target on shares of Crestwood Equity Partners and gave the stock a hold rating in a report on Tuesday, October 15th. Royal Bank of Canada upgraded shares of Crestwood Equity Partners from a sector perform rating to an outperform rating and raised their price target for the stock from $40.00 to $44.00 in a report on Friday, August 23rd. Bank of America raised their price target on shares of Crestwood Equity Partners from $40.00 to $42.00 and gave the stock a buy rating in a report on Tuesday, July 30th. Finally, Raymond James upgraded shares of Crestwood Equity Partners from an outperform rating to a strong-buy rating and set a $40.00 price target for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $42.71.
Shares of Crestwood Equity Partners stock traded down $1.33 during trading on Friday, hitting $31.90. The stock had a trading volume of 279,000 shares, compared to its average volume of 289,598. The stock has a 50 day simple moving average of $34.82 and a 200 day simple moving average of $35.68. The company has a market capitalization of $2.39 billion, a PE ratio of 151.90, a P/E/G ratio of 4.86 and a beta of 2.00. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 1.73. Crestwood Equity Partners has a 1 year low of $26.55 and a 1 year high of $40.00.
Crestwood Equity Partners (NYSE:CEQP) last released its earnings results on Tuesday, October 29th. The pipeline company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $823.60 million during the quarter, compared to analysts’ expectations of $689.30 million. Crestwood Equity Partners had a return on equity of 6.35% and a net margin of 9.76%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the business earned ($0.34) earnings per share. As a group, equities analysts expect that Crestwood Equity Partners will post 1.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 7.52%. The ex-dividend date of this dividend was Wednesday, November 6th. Crestwood Equity Partners’s dividend payout ratio is currently 1,142.86%.
Several hedge funds have recently bought and sold shares of CEQP. Squar Milner Financial Services LLC acquired a new stake in Crestwood Equity Partners in the second quarter valued at approximately $33,000. Mascoma Wealth Management LLC acquired a new stake in Crestwood Equity Partners in the second quarter valued at approximately $55,000. Toroso Investments LLC acquired a new stake in Crestwood Equity Partners in the second quarter valued at approximately $214,000. Marshall Wace LLP acquired a new stake in Crestwood Equity Partners in the second quarter valued at approximately $323,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in Crestwood Equity Partners in the second quarter valued at approximately $431,000. Institutional investors and hedge funds own 72.37% of the company’s stock.
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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