Crestwood Midstream Partners Director Sells $1,016,100 in Stock (CMLP)
Crestwood Midstream Partners (NYSE:CMLP) Director John J. Sherman sold 45,000 shares of Crestwood Midstream Partners stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $22.58, for a total value of $1,016,100.00. Following the completion of the sale, the director now directly owns 108,015 shares in the company, valued at approximately $2,438,979. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Crestwood Midstream Partners (NYSE:CMLP) traded up 2.16% during mid-day trading on Wednesday, hitting $23.17. 1,200,627 shares of the company’s stock traded hands. Crestwood Midstream Partners has a 52 week low of $20.23 and a 52 week high of $24.94. The stock’s 50-day moving average is $22.19 and its 200-day moving average is $22.41. The company’s market cap is $4.354 billion.
Crestwood Midstream Partners (NYSE:CMLP) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ 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.
CMLP has been the subject of a number of recent research reports. 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 analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus 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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