Insider Selling: John J. Sherman Sells 67,500 Shares of Crestwood Midstream Partners Stock (CMLP)
Crestwood Midstream Partners (NYSE:CMLP) Director John J. Sherman sold 67,500 shares of the stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $23.21, for a total value of $1,566,675.00. Following the transaction, the director now directly owns 108,015 shares in the company, valued at approximately $2,507,028. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Crestwood Midstream Partners (NYSE:CMLP) traded up 0.34% on Tuesday, hitting $23.44. The stock had a trading volume of 697,188 shares. 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 $22.25 and its 200-day moving average is $22.42. The company’s market cap is $4.405 billion.
Crestwood Midstream Partners (NYSE:CMLP) last released its earnings data on Wednesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the 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 research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target 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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