Crestwood Equity Partners LP (CEQP) Given Average Recommendation of “Hold” by Brokerages
Shares of Crestwood Equity Partners LP (NYSE:CEQP) have received a consensus rating of “Hold” from the seven analysts that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $15.17.
Several research firms recently commented on CEQP. Capital One Financial Corp. reissued an “equal weight” rating on shares of Crestwood Equity Partners in a research note on Monday, June 20th. Stifel Nicolaus cut Crestwood Equity Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research cut Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Barclays PLC reissued an “underweight” rating and set a $22.00 target price on shares of Crestwood Equity Partners in a research note on Tuesday, June 21st.
Crestwood Equity Partners (NYSE:CEQP) traded up 0.763% during mid-day trading on Monday, reaching $20.475. The company’s stock had a trading volume of 100,975 shares. Crestwood Equity Partners has a 12-month low of $7.90 and a 12-month high of $30.80. The firm’s 50 day moving average price is $20.76 and its 200 day moving average price is $19.33. The stock’s market cap is $1.41 billion.
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Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.84. The company earned $601.90 million during the quarter, compared to analysts’ expectations of $521.23 million. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, equities analysts predict that Crestwood Equity Partners will post ($2.32) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. boosted its position in Crestwood Equity Partners by 16.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 223,783 shares of the company’s stock valued at $4,755,000 after buying an additional 32,000 shares in the last quarter. Creative Planning boosted its position in Crestwood Equity Partners by 680.5% in the third quarter. Creative Planning now owns 25,851 shares of the company’s stock valued at $549,000 after buying an additional 22,539 shares in the last quarter. Cohen & Steers Inc. boosted its position in Crestwood Equity Partners by 87.4% in the second quarter. Cohen & Steers Inc. now owns 225,612 shares of the company’s stock valued at $4,548,000 after buying an additional 105,248 shares in the last quarter. Advisory Research Inc. boosted its position in Crestwood Equity Partners by 19.9% in the second quarter. Advisory Research Inc. now owns 1,795,986 shares of the company’s stock valued at $36,207,000 after buying an additional 298,662 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Crestwood Equity Partners during the second quarter valued at about $661,000.
Crestwood Equity Partners Company Profile
Crestwood Equity Partners LP is a holding and master limited partnership (MLP) company. The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. Its segments include gathering and processing (G&P), which includes its natural gas, crude oil and produced water G&P operations; storage and transportation, which includes its natural gas and crude oil storage and transportation operations, and marketing, supply and logistics, which includes its natural gas liquid (NGL) supply and logistics business, crude oil storage and rail loading facilities and fleet, and salt production business.
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