Crestwood Equity Partners LP (NYSE:CEQP) – Research analysts at US Capital Advisors lifted their Q2 2021 earnings estimates for Crestwood Equity Partners in a report released on Tuesday, July 20th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $0.39 for the quarter, up from their previous estimate of $0.29. US Capital Advisors also issued estimates for Crestwood Equity Partners’ Q1 2022 earnings at $0.38 EPS, Q2 2022 earnings at $0.26 EPS, Q3 2022 earnings at $0.29 EPS, Q4 2022 earnings at $0.47 EPS, FY2022 earnings at $1.40 EPS and FY2023 earnings at $1.84 EPS.
CEQP has been the topic of several other reports. Truist raised their price target on shares of Crestwood Equity Partners from $26.00 to $30.00 in a research note on Friday, March 26th. Royal Bank of Canada raised their price target on shares of Crestwood Equity Partners from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, June 21st. They noted that the move was a valuation call. Wells Fargo & Company raised their target price on shares of Crestwood Equity Partners from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 13th. JPMorgan Chase & Co. cut shares of Crestwood Equity Partners from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $27.00 to $28.00 in a research report on Thursday, April 1st. Finally, Capital One Financial reissued an “equal weight” rating and issued a $30.00 target price (up from $29.00) on shares of Crestwood Equity Partners in a research report on Tuesday, May 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.78.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings data on Monday, April 26th. The pipeline company reported ($0.86) EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($1.22). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.17 billion. Crestwood Equity Partners had a negative net margin of 2.78% and a negative return on equity of 3.26%. Crestwood Equity Partners’s revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.66) earnings per share.
Institutional investors and hedge funds have recently bought and sold shares of the company. City Holding Co. purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at approximately $27,000. BDO Wealth Advisors LLC raised its stake in shares of Crestwood Equity Partners by 107.3% during the first quarter. BDO Wealth Advisors LLC now owns 1,451 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 751 shares during the period. ADE LLC bought a new stake in shares of Crestwood Equity Partners in the fourth quarter worth $49,000. Pacer Advisors Inc. increased its stake in shares of Crestwood Equity Partners by 14.7% in the first quarter. Pacer Advisors Inc. now owns 3,012 shares of the pipeline company’s stock worth $84,000 after buying an additional 385 shares during the last quarter. Finally, NEXT Financial Group Inc increased its stake in shares of Crestwood Equity Partners by 840.6% in the first quarter. NEXT Financial Group Inc now owns 3,057 shares of the pipeline company’s stock worth $85,000 after buying an additional 2,732 shares during the last quarter. Institutional investors own 32.68% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 13th. Stockholders of record on Friday, August 6th will be paid a dividend of $0.625 per share. The ex-dividend date is Thursday, August 5th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 9.02%. Crestwood Equity Partners’s dividend payout ratio is currently -657.89%.
Crestwood Equity Partners Company Profile
Crestwood Equity Partners LP provides a range of 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).
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