Crestwood Midstream Partners Short Interest Up 49.8% in May (CMLP)
Shares of Crestwood Midstream Partners (NYSE:CMLP) were the recipient of a significant growth in short interest during the month of May. As of May 30th, there was short interest totalling 2,775,011 shares, a growth of 49.8% from the May 15th total of 1,852,671 shares, AnalystRatingsNetwork reports. Based on an average daily trading volume, of 446,488 shares, the days-to-cover ratio is presently 6.2 days. Approximately 1.9% of the shares of the company are short sold.
In other Crestwood Midstream Partners news, Director John J. Sherman sold 47,344 shares of the stock on the open market in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $22.20, for a total transaction of $1,051,036.80. The sale was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Crestwood Midstream Partners in a research note on Monday, May 12th. They now have a $13.00 price target on the stock, down previously from $14.00. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Crestwood Midstream Partners currently has an average rating of “Buy” and an average price target of $22.68.
Shares of Crestwood Midstream Partners (NYSE:CMLP) opened at 21.79 on Wednesday. Crestwood Midstream Partners has a 52-week low of $20.40 and a 52-week high of $25.60. The stock’s 50-day moving average is $21.86 and its 200-day moving average is $22.75. The company’s market cap is $4.096 billion.
Crestwood Midstream Partners (NYSE:CMLP) last issued its quarterly 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. On average, analysts predict that Crestwood Midstream Partners will post $0.41 earnings per share for the current fiscal year.
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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