Crestwood Midstream Partners Director Unloads $674,400 in Stock (CMLP)
Crestwood Midstream Partners (NYSE:CMLP) Director John J. Sherman sold 30,000 shares of the company’s stock on the open market in a transaction dated Monday, August 25th. The shares were sold at an average price of $22.48, for a total value of $674,400.00. Following the transaction, the director now directly owns 108,015 shares in the company, valued at approximately $2,428,177. The sale was disclosed in a document filed with the SEC, which is available at this link.
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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.65.
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 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.
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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