Insider Selling: John J. Sherman Sells 6,713 Shares of Crestwood Midstream Partners Stock (CMLP)
Crestwood Midstream Partners (NYSE:CMLP) Director John J. Sherman sold 6,713 shares of the company’s stock on the open market in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $22.03, for a total value of $147,887.39. Following the transaction, the director now directly owns 108,015 shares of the company’s stock, valued at approximately $2,379,570. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on CMLP. Analysts at Barclays reiterated an “equal weight” rating on shares of Crestwood Midstream Partners in a research note on Monday. They now have a $13.00 price target on the stock, down previously from $14.00. Separately, analysts at Zacks upgraded shares of Crestwood Midstream Partners from an “underperform” rating to a “neutral” rating in a research note on Wednesday, March 26th. They now have a $22.70 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Crestwood Midstream Partners from $26.00 to $24.00 in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Crestwood Midstream Partners presently has an average rating of “Buy” and an average price target of $22.74.
Crestwood Midstream Partners (NYSE:CMLP) traded down 0.18% during mid-day trading on Wednesday, hitting $21.64. The stock had a trading volume of 347,959 shares. Crestwood Midstream Partners has a 1-year low of $20.40 and a 1-year high of $25.60. The stock’s 50-day moving average is $22.83 and its 200-day moving average is $22.70. The company’s market cap is $4.067 billion.
Crestwood Midstream Partners (NYSE:CMLP) last released its earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.11. The company had revenue of $537.00 million for the quarter, compared to the consensus estimate of $444.10 million. Analysts expect that Crestwood Midstream Partners will post $0.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 7.58%. The ex-dividend date is Tuesday, May 6th.
Crestwood Midstream Partners LP is a master limited partnership. The Company owns and operates midstream businesses in multiple unconventional shale resource plays across the United States.
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