Crestwood Equity Partners Given New $14.00 Price Target at Raymond James (CEQP)
Research analysts at Raymond James dropped their price objective on shares of Crestwood Equity Partners (NYSE:CEQP) from $15.00 to $14.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 7.44% from the company’s current price.
Separately, analysts at RBC Capital reiterated a “sector perform” rating on shares of Crestwood Equity Partners in a research note on Thursday. They now have a $14.00 price target on the stock, down previously from $15.00.
In other Crestwood Equity Partners news, Director John J. Sherman sold 28,600 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $15.12, for a total value of $432,432.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Crestwood Equity Partners (NYSE:CEQP) opened at 13.03 on Friday. Crestwood Equity Partners has a 52-week low of $11.83 and a 52-week high of $15.78. The stock has a 50-day moving average of $14.68 and a 200-day moving average of $13.91. The company has a market cap of $2.430 billion and a price-to-earnings ratio of 90.34.
Crestwood Equity Partners (NYSE:CEQP) last announced its earnings results on Wednesday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.10 by $0.12. The company had revenue of $923.30 million for the quarter, compared to the consensus estimate of $941.96 million. Crestwood Equity Partners’s revenue was up 679.1% compared to the same quarter last year. Analysts expect that Crestwood Equity Partners will post $0.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Thursday, August 7th will be given a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, August 5th.
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