Crestwood Midstream Partners Director Unloads $365,882 in Stock (CMLP)
Crestwood Midstream Partners (NYSE:CMLP) Director John J. Sherman sold 16,631 shares of Crestwood Midstream Partners stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $22.00, for a total value of $365,882.00. Following the transaction, the director now directly owns 108,015 shares of the company’s stock, valued at approximately $2,376,330. The sale was disclosed in a filing with the SEC, which can be accessed through 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $22.68.
Shares of Crestwood Midstream Partners (NYSE:CMLP) traded up 0.05% on Tuesday, hitting $21.96. 618,018 shares of the company’s stock traded hands. 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 $21.88 and its 200-day moving average is $22.74. The company’s market cap is $4.128 billion. Crestwood Midstream Partners also was the recipient of a significant drop in short interest in June. As of June 13th, there was short interest totalling 1,988,604 shares, a drop of 28.3% from the May 30th total of 2,775,011 shares. Based on an average daily volume of 691,894 shares, the short-interest ratio is currently 2.9 days. Approximately 1.3% of the company’s stock are short sold.
Crestwood Midstream Partners (NYSE:CMLP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, missing the analysts’ 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 $0.35 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.