Crestwood Equity Partners (NYSE:CEQP) Cut to “Sell” at ValuEngine

ValuEngine cut shares of Crestwood Equity Partners (NYSE:CEQP) from a hold rating to a sell rating in a research note issued to investors on Friday, ValuEngine reports.

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.

Read More: Day Trading

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

Receive News & Ratings for Crestwood Equity Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crestwood Equity Partners and related companies with MarketBeat.com's FREE daily email newsletter.