Crestwood Equity Partners (NYSE:CEQP) PT Lowered to $29.00

Crestwood Equity Partners (NYSE:CEQP – Get Rating) had its price objective trimmed by Royal Bank of Canada from $30.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the pipeline company’s stock.

Other equities analysts have also issued reports about the company. Scotiabank initiated coverage on Crestwood Equity Partners in a research report on Wednesday, March 1st. They set a sector outperform rating and a $31.00 target price on the stock. Wells Fargo & Company lowered their price target on Crestwood Equity Partners from $35.00 to $32.00 and set an overweight rating for the company in a research report on Wednesday, March 8th. US Capital Advisors downgraded Crestwood Equity Partners from a buy rating to a hold rating in a research note on Tuesday, January 31st. StockNews.com upgraded Crestwood Equity Partners from a sell rating to a hold rating in a research note on Tuesday, February 28th. Finally, Raymond James reduced their price objective on Crestwood Equity Partners from $35.00 to $32.00 and set an outperform rating for the company in a research note on Monday, January 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $30.33.

Crestwood Equity Partners Stock Down 0.2 %

Shares of CEQP stock opened at $23.18 on Wednesday. The business’s 50 day simple moving average is $26.09 and its 200 day simple moving average is $27.67. Crestwood Equity Partners has a one year low of $22.23 and a one year high of $32.96. The company has a current ratio of 1.28, a quick ratio of 1.04 and a debt-to-equity ratio of 1.95.

Crestwood Equity Partners (NYSE:CEQP – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Crestwood Equity Partners had a return on equity of 6.31% and a net margin of 0.52%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, equities analysts anticipate that Crestwood Equity Partners will post 1.54 earnings per share for the current fiscal year.

Crestwood Equity Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, February 7th were issued a $0.655 dividend. The ex-dividend date was Monday, February 6th. This represents a $2.62 annualized dividend and a dividend yield of 11.30%. Crestwood Equity Partners’s payout ratio is currently -935.68%.

Institutional Trading of Crestwood Equity Partners

Several institutional investors and hedge funds have recently modified their holdings of CEQP. Quadrant Capital Group LLC raised its holdings in shares of Crestwood Equity Partners by 71.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 922 shares of the pipeline company’s stock valued at $26,000 after buying an additional 384 shares in the last quarter. Van ECK Associates Corp grew its position in Crestwood Equity Partners by 4.2% during the 3rd quarter. Van ECK Associates Corp now owns 10,140 shares of the pipeline company’s stock worth $282,000 after acquiring an additional 412 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Crestwood Equity Partners by 4.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 9,506 shares of the pipeline company’s stock worth $249,000 after buying an additional 422 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Crestwood Equity Partners by 28.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,927 shares of the pipeline company’s stock worth $53,000 after buying an additional 427 shares during the last quarter. Finally, Empirical Asset Management LLC grew its position in shares of Crestwood Equity Partners by 2.2% in the 4th quarter. Empirical Asset Management LLC now owns 20,119 shares of the pipeline company’s stock worth $527,000 after buying an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 61.11% of the company’s stock.

Crestwood Equity Partners Company Profile

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Crestwood Equity Partners LP engages in investment and management of energy midstream assets. It operates through the following segments: Gathering and Processing, Storage and Transportation, and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering and transportation services, processing, treating, and compression services, and disposal services to producers in unconventional shale plays and tight-gas plays.