Other equities research analysts have also recently issued reports about the stock. US Capital Advisors reiterated a hold rating on shares of Crestwood Equity Partners in a research report on Wednesday, February 6th. Wells Fargo & Co upgraded shares of Crestwood Equity Partners from a market perform rating to an outperform rating in a research report on Tuesday, March 19th. Finally, TheStreet upgraded shares of Crestwood Equity Partners from a c+ rating to a b rating in a research report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $39.57.
NYSE CEQP traded down $1.18 on Wednesday, hitting $35.25. The company’s stock had a trading volume of 9,070 shares, compared to its average volume of 179,869. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.95 and a current ratio of 1.14. Crestwood Equity Partners has a 1-year low of $26.55 and a 1-year high of $40.55. The stock has a market cap of $2.62 billion, a P/E ratio of 167.76, a price-to-earnings-growth ratio of 10.67 and a beta of 2.19.
Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings results on Tuesday, April 30th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.21). Crestwood Equity Partners had a net margin of 0.47% and a return on equity of 2.76%. The business had revenue of $835.20 million during the quarter, compared to analyst estimates of $879.87 million. During the same quarter last year, the company posted $0.21 earnings per share. The company’s revenue was down 25.1% compared to the same quarter last year. Analysts predict that Crestwood Equity Partners will post 0.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend is Tuesday, May 7th. Crestwood Equity Partners’s dividend payout ratio is presently 1,142.86%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings in Crestwood Equity Partners by 12.6% during the fourth quarter. Alps Advisors Inc. now owns 4,870,511 shares of the pipeline company’s stock worth $135,936,000 after buying an additional 546,006 shares during the last quarter. Bank of Montreal Can increased its holdings in Crestwood Equity Partners by 132.0% during the first quarter. Bank of Montreal Can now owns 911,349 shares of the pipeline company’s stock worth $32,071,000 after buying an additional 518,507 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Crestwood Equity Partners by 26.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,272,782 shares of the pipeline company’s stock worth $35,524,000 after purchasing an additional 266,937 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Crestwood Equity Partners in the fourth quarter worth about $4,825,000. Finally, Perella Weinberg Partners Capital Management LP increased its stake in shares of Crestwood Equity Partners by 24.2% in the fourth quarter. Perella Weinberg Partners Capital Management LP now owns 835,328 shares of the pipeline company’s stock worth $23,314,000 after purchasing an additional 162,902 shares in the last quarter. 71.61% of the stock is currently owned by institutional investors and hedge funds.
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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