Raymond James Reiterates Outperform Rating for Crestwood Midstream Partners (CMLP)
Crestwood Midstream Partners (NYSE:CMLP)‘s stock had its “outperform” rating restated by Raymond James in a research note issued on Friday. They currently have a $23.00 target price on the stock, down from their previous target price of $24.00. Raymond James’ price target would suggest a potential upside of 11.98% from the company’s current price.
Crestwood Midstream Partners (NYSE:CMLP) opened at 20.54 on Friday. Crestwood Midstream Partners has a one year low of $20.29 and a one year high of $24.94. The stock has a 50-day moving average of $22.2 and a 200-day moving average of $22.54. The company’s market cap is $3.861 billion.
Crestwood Midstream Partners (NYSE:CMLP) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.10 by $0.06. The company had revenue of $675.70 million for the quarter, compared to the consensus estimate of $591.45 million. On average, analysts predict that Crestwood Midstream Partners will post $0.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders 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 2.68%. The ex-dividend date of this dividend is Tuesday, August 5th.
In other Crestwood Midstream Partners news, Director John J. Sherman unloaded 39,742 shares of Crestwood Midstream Partners stock on the open market in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $22.29, for a total transaction of $885,849.18. The sale was disclosed in a filing with the SEC, which is available at this link.
CMLP has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated a “sector perform” rating on shares of Crestwood Midstream Partners in a research note on Thursday. They now have a $22.00 price target on the stock, down previously from $23.00. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.25.
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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