Crestwood Equity Partners LP (CEQP) Scheduled to Post Earnings on Tuesday
Crestwood Equity Partners LP (NYSE:CEQP) is scheduled to post its quarterly earnings results before the market opens on Tuesday, October 31st. Analysts expect Crestwood Equity Partners to post earnings of ($0.04) per share for the quarter.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.23). The business had revenue of $850.30 million for the quarter, compared to analysts’ expectations of $706.34 million. Crestwood Equity Partners had a negative return on equity of 1.13% and a negative net margin of 4.68%. The business’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.74) EPS. On average, analysts expect Crestwood Equity Partners to post $-0.99 EPS for the current fiscal year and $-0.09 EPS for the next fiscal year.
Crestwood Equity Partners LP (NYSE CEQP) opened at 23.95 on Tuesday. The stock’s market cap is $1.67 billion. The firm’s 50-day moving average price is $24.66 and its 200-day moving average price is $24.30. Crestwood Equity Partners LP has a 12 month low of $18.50 and a 12 month high of $28.30.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 10.02%. The ex-dividend date of this dividend is Monday, November 6th. Crestwood Equity Partners’s payout ratio is -107.14%.
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In related news, SVP Joel Christian Lambert sold 6,927 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which is available at this link. Corporate insiders own 36.20% of the company’s stock.
Several equities analysts have issued reports on the company. Stifel Nicolaus upgraded Crestwood Equity Partners from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Wednesday, August 2nd. ValuEngine cut Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. Finally, BidaskClub upgraded Crestwood Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $27.40.
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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