Crestwood Equity Partners LP (CEQP) Downgraded by ValuEngine to Sell
Crestwood Equity Partners LP (NYSE:CEQP) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.
Several other equities analysts have also commented on CEQP. BidaskClub raised Crestwood Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Stifel Nicolaus raised Crestwood Equity Partners from a “hold” rating to a “buy” rating and raised their price objective for the company from $27.00 to $28.00 in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.40.
Crestwood Equity Partners (CEQP) traded down 2.18% on Friday, hitting $24.70. 56,473 shares of the company were exchanged. The company’s market capitalization is $1.72 billion. Crestwood Equity Partners has a 52 week low of $18.50 and a 52 week high of $28.30. The stock has a 50 day moving average of $24.83 and a 200 day moving average of $24.58.
Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings results on Tuesday, August 1st. The pipeline company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.23. The company had revenue of $850.30 million during the quarter, compared to the consensus estimate of $706.34 million. Crestwood Equity Partners had a negative net margin of 4.68% and a negative return on equity of 1.13%. The business’s revenue was up 41.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.74) EPS. Analysts predict that Crestwood Equity Partners will post ($0.97) EPS for the current fiscal year.
In other news, SVP Joel Christian Lambert sold 6,927 shares of Crestwood Equity Partners stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $25.47, for a total value of $176,430.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 36.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC raised its position in Crestwood Equity Partners by 520.8% in the 2nd quarter. Penserra Capital Management LLC now owns 5,550 shares of the pipeline company’s stock worth $129,000 after buying an additional 4,656 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Crestwood Equity Partners by 387.9% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 7,729 shares of the pipeline company’s stock worth $190,000 after buying an additional 6,145 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Crestwood Equity Partners in the 1st quarter worth about $284,000. Alliancebernstein L.P. raised its position in Crestwood Equity Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 12,436 shares of the pipeline company’s stock worth $292,000 after buying an additional 696 shares during the last quarter. Finally, Waldron LP purchased a new position in Crestwood Equity Partners in the 1st quarter worth about $380,000. 65.15% of the stock is owned by hedge funds and other institutional investors.
Crestwood Equity Partners Company Profile
Crestwood Equity Partners LP is a holding company and a master limited partnership (MLP). The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. The Company’s 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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