Crestwood Equity Partners LP (NYSE:CEQP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Crestwood Equity Partners LP (NYSE:CEQPGet Rating) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $34.25.

A number of brokerages have recently weighed in on CEQP. Raymond James dropped their target price on Crestwood Equity Partners from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday. StockNews.com downgraded Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Saturday, January 7th. Wells Fargo & Company upgraded Crestwood Equity Partners from an “equal weight” rating to an “overweight” rating and set a $35.00 target price on the stock in a report on Friday, December 16th. Finally, Citigroup assumed coverage on Crestwood Equity Partners in a report on Thursday, December 8th. They issued a “buy” rating and a $32.00 target price on the stock.

Institutional Investors Weigh In On Crestwood Equity Partners

A number of large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in Crestwood Equity Partners by 71.4% during the third quarter. Quadrant Capital Group LLC now owns 922 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 384 shares during the period. Van ECK Associates Corp boosted its position in Crestwood Equity Partners by 4.2% during the third quarter. Van ECK Associates Corp now owns 10,140 shares of the pipeline company’s stock worth $282,000 after purchasing an additional 412 shares during the period. Rockefeller Capital Management L.P. boosted its position in Crestwood Equity Partners by 28.5% during the third quarter. Rockefeller Capital Management L.P. now owns 1,927 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 427 shares during the period. Brookstone Capital Management boosted its position in Crestwood Equity Partners by 2.2% during the fourth quarter. Brookstone Capital Management now owns 20,484 shares of the pipeline company’s stock worth $576,000 after purchasing an additional 441 shares during the period. Finally, Empirical Asset Management LLC boosted its position in Crestwood Equity Partners by 2.5% during the third quarter. Empirical Asset Management LLC now owns 19,680 shares of the pipeline company’s stock worth $547,000 after purchasing an additional 485 shares during the period. Institutional investors own 61.11% of the company’s stock.

Crestwood Equity Partners Price Performance

NYSE CEQP opened at $27.61 on Wednesday. The stock’s 50-day moving average price is $27.72 and its two-hundred day moving average price is $27.82. The company has a current ratio of 1.55, a quick ratio of 1.30 and a debt-to-equity ratio of 2.03. The company has a market cap of $2.89 billion, a PE ratio of 110.44 and a beta of 2.53. Crestwood Equity Partners has a 1 year low of $22.88 and a 1 year high of $32.96.

Crestwood Equity Partners (NYSE:CEQPGet Rating) last issued its earnings results on Wednesday, November 2nd. The pipeline company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.63 billion. Crestwood Equity Partners had a net margin of 0.94% and a return on equity of 8.72%. On average, analysts predict that Crestwood Equity Partners will post 0.57 EPS for the current year.

Crestwood Equity Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, February 7th will be issued a $0.655 dividend. The ex-dividend date of this dividend is Monday, February 6th. This represents a $2.62 dividend on an annualized basis and a yield of 9.49%. Crestwood Equity Partners’s dividend payout ratio is currently 1,048.00%.

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.

See Also

Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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