Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been given an average recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $26.33.
Several research firms have recently issued reports on CEQP. ValuEngine downgraded shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. Stifel Nicolaus reissued a “hold” rating and set a $27.00 target price (up previously from $26.00) on shares of Crestwood Equity Partners in a research note on Thursday, May 4th. Finally, UBS AG reissued a “neutral” rating and set a $25.00 target price (up previously from $20.00) on shares of Crestwood Equity Partners in a research note on Wednesday, March 8th.
Shares of Crestwood Equity Partners (NYSE CEQP) traded up 1.19% during trading on Tuesday, hitting $21.30. 147,136 shares of the stock traded hands. The firm has a 50-day moving average of $23.88 and a 200-day moving average of $25.22. The firm’s market capitalization is $1.48 billion. Crestwood Equity Partners has a 1-year low of $18.50 and a 1-year high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The business had revenue of $828.10 million for the quarter, compared to the consensus estimate of $745.38 million. Crestwood Equity Partners had a negative net margin of 6.22% and a negative return on equity of 2.65%. Crestwood Equity Partners’s revenue was up 54.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.47) EPS. On average, equities analysts forecast that Crestwood Equity Partners will post ($0.47) earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Center Coast Capital Advisors LP increased its position in shares of Crestwood Equity Partners by 82.2% in the first quarter. Center Coast Capital Advisors LP now owns 2,422,641 shares of the pipeline company’s stock worth $63,594,000 after buying an additional 1,093,092 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Crestwood Equity Partners by 5.3% in the first quarter. OppenheimerFunds Inc. now owns 5,604,459 shares of the pipeline company’s stock worth $147,117,000 after buying an additional 280,441 shares in the last quarter. ING Groep NV purchased a new position in shares of Crestwood Equity Partners during the first quarter worth $3,065,000. Rafferty Asset Management LLC purchased a new position in shares of Crestwood Equity Partners during the first quarter worth $3,150,000. Finally, Allianz Asset Management AG purchased a new position in shares of Crestwood Equity Partners during the fourth quarter worth $2,603,000. 63.69% of the stock is owned by institutional investors and hedge funds.
About Crestwood Equity Partners
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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