Crestwood Equity Partners LP (NYSE:CEQP) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

A number of other equities research analysts have also issued reports on CEQP. BidaskClub raised Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus raised Crestwood Equity Partners from a “hold” rating to a “buy” rating and increased their price target for the company from $27.00 to $28.00 in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.40.

Crestwood Equity Partners (NYSE:CEQP) traded up 5.04% during trading on Tuesday, reaching $25.00. The company’s stock had a trading volume of 511,144 shares. The stock has a 50 day moving average price of $24.50 and a 200 day moving average price of $24.21. Crestwood Equity Partners has a 1-year low of $18.50 and a 1-year high of $28.30. The stock’s market capitalization is $1.74 billion.

Crestwood Equity Partners (NYSE:CEQP) last posted 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 company had revenue of $850.30 million during the quarter, compared to analyst estimates of $706.34 million. Crestwood Equity Partners had a negative net margin of 4.68% and a negative return on equity of 1.13%. Crestwood Equity Partners’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.74) EPS. Analysts anticipate that Crestwood Equity Partners will post ($0.99) earnings per share for the current fiscal year.

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In other news, SVP Joel Christian Lambert sold 6,927 shares of the 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 filing with the SEC, which is accessible through this hyperlink. 36.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its holdings in shares of 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 valued at $129,000 after acquiring an additional 4,656 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of 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 valued at $190,000 after acquiring an additional 6,145 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Crestwood Equity Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock valued at $308,000 after acquiring an additional 3,390 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Crestwood Equity Partners by 6.9% in the 2nd quarter. Sigma Planning Corp now owns 18,164 shares of the pipeline company’s stock valued at $427,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Crestwood Equity Partners in the 2nd quarter valued at about $472,000. Institutional investors and hedge funds own 65.65% of the company’s stock.

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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