Crestwood Equity Partners LP (CEQP) Given Consensus Recommendation of “Hold” by Analysts
Crestwood Equity Partners LP (NYSE:CEQP) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $27.40.
Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. Stifel Nicolaus raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $28.00 in a research report on Wednesday, August 2nd. Finally, BidaskClub raised shares of Crestwood Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th.
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Shares of Crestwood Equity Partners (CEQP) traded down 1.62% during trading on Friday, reaching $24.35. 119,158 shares of the company’s stock traded hands. Crestwood Equity Partners has a 1-year low of $18.51 and a 1-year high of $28.30. The company’s market capitalization is $1.70 billion. The stock has a 50-day moving average of $24.89 and a 200-day moving average of $24.50.
Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings data on Tuesday, August 1st. The pipeline company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.23). Crestwood Equity Partners had a negative return on equity of 1.13% and a negative net margin of 4.68%. The business had revenue of $850.30 million during the quarter, compared to analyst estimates of $706.34 million. During the same period in the previous year, the company earned ($0.74) EPS. Crestwood Equity Partners’s revenue was up 41.3% on a year-over-year basis. On average, equities analysts predict that Crestwood Equity Partners will post ($0.97) EPS for the current fiscal year.
In related news, SVP Joel Christian Lambert sold 6,927 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $25.47, for a total transaction of $176,430.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 36.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its holdings in Crestwood Equity Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 12,436 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 696 shares in the last quarter. Global X Management Co. LLC grew its holdings in Crestwood Equity Partners by 4.3% during the 1st quarter. Global X Management Co. LLC now owns 17,803 shares of the pipeline company’s stock valued at $467,000 after purchasing an additional 734 shares in the last quarter. Sigma Planning Corp grew its holdings in Crestwood Equity Partners by 6.9% during the 2nd quarter. Sigma Planning Corp now owns 18,164 shares of the pipeline company’s stock valued at $427,000 after purchasing an additional 1,172 shares in the last quarter. California Public Employees Retirement System grew its holdings in Crestwood Equity Partners by 3.2% during the 2nd quarter. California Public Employees Retirement System now owns 114,752 shares of the pipeline company’s stock valued at $2,697,000 after purchasing an additional 3,600 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Crestwood Equity Partners by 0.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 755,042 shares of the pipeline company’s stock valued at $17,743,000 after purchasing an additional 4,553 shares in the last quarter. 65.15% of the stock is owned by institutional investors and hedge funds.
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.
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