Crestwood Equity Partners (NYSE:CEQP) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday, January 2nd.
A number of other equities research analysts have also weighed in on the company. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of Crestwood Equity Partners in a report on Wednesday, October 31st. They noted that the move was a valuation call. Raymond James boosted their price objective on shares of Crestwood Equity Partners from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, October 24th. Goldman Sachs Group raised shares of Crestwood Equity Partners from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Monday, December 17th. Barclays upped their price target on shares of Crestwood Equity Partners from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $38.00 price target on shares of Crestwood Equity Partners in a research report on Monday, September 24th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $38.88.
Shares of Crestwood Equity Partners stock traded down $0.33 during mid-day trading on Wednesday, reaching $31.38. 6,073 shares of the stock traded hands, compared to its average volume of 385,128. Crestwood Equity Partners has a fifty-two week low of $24.80 and a fifty-two week high of $40.55. The stock has a market capitalization of $2.11 billion, a P/E ratio of -27.00, a PEG ratio of 8.93 and a beta of 2.16. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings data on Tuesday, October 30th. The pipeline company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.32). Crestwood Equity Partners had a positive return on equity of 0.59% and a negative net margin of 3.53%. The business had revenue of $930.20 million during the quarter, compared to analysts’ expectations of $845.40 million. During the same quarter in the previous year, the company posted ($0.72) earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. As a group, research analysts anticipate that Crestwood Equity Partners will post -0.22 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. McGowan Group Asset Management Inc. grew its position in Crestwood Equity Partners by 11.1% in the 3rd quarter. McGowan Group Asset Management Inc. now owns 21,488 shares of the pipeline company’s stock worth $790,000 after purchasing an additional 2,151 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Crestwood Equity Partners by 43.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,274 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 2,522 shares during the period. MML Investors Services LLC bought a new position in shares of Crestwood Equity Partners during the 3rd quarter worth about $214,000. Security National Bank of Sioux City Iowa IA bought a new position in shares of Crestwood Equity Partners during the 3rd quarter worth about $221,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Crestwood Equity Partners by 5.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 123,800 shares of the pipeline company’s stock worth $4,550,000 after acquiring an additional 6,800 shares during the period. Institutional investors own 70.63% of the company’s stock.
Crestwood Equity Partners Company Profile
Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing (G&P); Storage and Transportation (S&T); and Marketing, Supply and Logistics (MS&L). The G&P segment offers gathering and transportation services for natural gas, crude oil, and produced water; and processing, treating, and compression services.
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