Private Advisory Group LLC Invests $296,000 in Crestwood Equity Partners LP (CEQP)

Private Advisory Group LLC acquired a new position in shares of Crestwood Equity Partners LP (NYSE:CEQP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,014 shares of the pipeline company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CEQP. Bank of Montreal Can boosted its position in shares of Crestwood Equity Partners by 10.7% in the 2nd quarter. Bank of Montreal Can now owns 1,078,759 shares of the pipeline company’s stock valued at $34,251,000 after purchasing an additional 104,006 shares during the period. Perella Weinberg Partners Capital Management LP boosted its position in shares of Crestwood Equity Partners by 139.3% in the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 1,155,129 shares of the pipeline company’s stock valued at $36,675,000 after purchasing an additional 672,466 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Crestwood Equity Partners by 105.3% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 117,000 shares of the pipeline company’s stock valued at $3,715,000 after purchasing an additional 60,000 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Crestwood Equity Partners by 12.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,266 shares of the pipeline company’s stock valued at $612,000 after purchasing an additional 2,155 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Crestwood Equity Partners in the 2nd quarter valued at about $222,000. 68.80% of the stock is owned by institutional investors.

Crestwood Equity Partners stock opened at $31.36 on Thursday. Crestwood Equity Partners LP has a twelve month low of $22.15 and a twelve month high of $40.55. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -27.03 and a beta of 2.46.

Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings data on Tuesday, October 30th. The pipeline company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.32). Crestwood Equity Partners had a positive return on equity of 0.59% and a negative net margin of 3.53%. The company had revenue of $930.20 million for the quarter, compared to analyst estimates of $845.40 million. During the same period in the previous year, the business posted ($0.72) earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts forecast that Crestwood Equity Partners LP will post -0.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $2.40 annualized dividend and a dividend yield of 7.65%. Crestwood Equity Partners’s dividend payout ratio is currently -206.90%.

A number of analysts recently issued reports on the company. Bank of America upped their target price on Crestwood Equity Partners from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Stifel Nicolaus increased their price objective on Crestwood Equity Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Raymond James increased their price objective on Crestwood Equity Partners from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 24th. ValuEngine raised Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Barclays increased their price objective on Crestwood Equity Partners from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $37.50.

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Crestwood Equity Partners 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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Institutional Ownership by Quarter for Crestwood Equity Partners (NYSE:CEQP)

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