Insider Selling: John J. Sherman Sells 150,000 Shares of Crestwood Midstream Partners Stock (CMLP)
Crestwood Midstream Partners (NYSE:CMLP) Director John J. Sherman sold 150,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $22.18, for a total value of $3,327,000.00. Following the completion of the sale, the director now directly owns 108,015 shares of the company’s stock, valued at approximately $2,395,773. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Crestwood Midstream Partners (NYSE:CMLP) traded up 0.40% during mid-day trading on Friday, hitting $22.65. The stock had a trading volume of 527,008 shares. Crestwood Midstream Partners has a 1-year low of $20.23 and a 1-year high of $24.94. The stock has a 50-day moving average of $22.10 and a 200-day moving average of $22.41. The company’s market cap is $4.257 billion.
Crestwood Midstream Partners (NYSE:CMLP) last released its earnings data 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 $0.23 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CMLP shares. Analysts at Robert W. Baird cut their price target on shares of Crestwood Midstream Partners from $16.00 to $15.00 in a research note on Thursday, August 14th. Separately, analysts at Zacks downgraded shares of Crestwood Midstream Partners from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 13th. They now have a $19.90 price target on the stock. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Crestwood Midstream Partners in a research note on Friday, August 8th. They now have a $23.00 price target on the stock, down previously from $24.00. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.65.
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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