Shares of Crestwood Equity Partners LP (NYSE:CEQP – Get Rating) have been given a consensus rating of “Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $34.40.
CEQP has been the subject of a number of recent analyst reports. Raymond James upped their price objective on Crestwood Equity Partners from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. US Capital Advisors raised Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research note on Monday, April 25th. Wells Fargo & Company increased their price target on Crestwood Equity Partners from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, March 3rd. StockNews.com lowered Crestwood Equity Partners from a “buy” rating to a “hold” rating in a research note on Saturday, May 7th. Finally, Royal Bank of Canada increased their price target on Crestwood Equity Partners from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, April 4th.
NYSE:CEQP traded up $0.43 during mid-day trading on Friday, hitting $29.34. 6,461 shares of the company traded hands, compared to its average volume of 709,189. The stock’s fifty day moving average price is $29.98 and its 200-day moving average price is $28.77. Crestwood Equity Partners has a one year low of $23.57 and a one year high of $33.94. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.57. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -22.59 and a beta of 2.96.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, May 6th were issued a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 8.93%. This is an increase from Crestwood Equity Partners’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, May 5th. Crestwood Equity Partners’s dividend payout ratio is presently -204.69%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its holdings in Crestwood Equity Partners by 184.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 974 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 632 shares during the period. Selective Wealth Management Inc. purchased a new position in Crestwood Equity Partners during the 1st quarter worth $34,000. Versant Capital Management Inc bought a new stake in Crestwood Equity Partners during the 1st quarter valued at $57,000. Lee Financial Co boosted its position in Crestwood Equity Partners by 30.2% during the 1st quarter. Lee Financial Co now owns 2,333 shares of the pipeline company’s stock valued at $70,000 after acquiring an additional 541 shares in the last quarter. Finally, Professional Financial Advisors LLC bought a new stake in Crestwood Equity Partners during the 1st quarter valued at $107,000. Institutional investors own 52.25% of the company’s stock.
Crestwood Equity Partners Company Profile (Get Rating)
Crestwood Equity Partners LP develops, acquires, owns, controls, and operates assets and operations in the energy midstream sector in the United States. It operates through three segments: Gathering and Processing North; Gathering and Processing South; and Storage and Logistics. The Gathering and Processing North segment offers natural gas, crude oil, and produced water gathering, compression, treating, processing, and disposal services to producers in the Williston Basin and Powder River Basin.
- Get a free copy of the StockNews.com research report on Crestwood Equity Partners (CEQP)
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