Advisory Research Inc. maintained its position in shares of Crestwood Equity Partners LP (NYSE:CEQP) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 994,993 shares of the pipeline company’s stock at the end of the 2nd quarter. Advisory Research Inc. owned 1.43% of Crestwood Equity Partners worth $26,119,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its position in Crestwood Equity Partners by 520.8% in the second quarter. Penserra Capital Management LLC now owns 5,550 shares of the pipeline company’s stock worth $129,000 after acquiring an additional 4,656 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in Crestwood Equity Partners by 387.9% in the second quarter. Chicago Partners Investment Group LLC now owns 7,729 shares of the pipeline company’s stock worth $190,000 after acquiring an additional 6,145 shares in the last quarter. Alliancebernstein L.P. raised its position in Crestwood Equity Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock worth $308,000 after acquiring an additional 3,390 shares in the last quarter. Waldron LP purchased a new position in Crestwood Equity Partners in the first quarter worth $380,000. Finally, Global X Management Co. LLC raised its position in Crestwood Equity Partners by 4.3% in the first quarter. Global X Management Co. LLC now owns 17,803 shares of the pipeline company’s stock worth $467,000 after acquiring an additional 734 shares in the last quarter. Institutional investors and hedge funds own 65.15% of the company’s stock.
Several research analysts have issued reports on the company. Stifel Nicolaus upgraded Crestwood Equity Partners from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $28.00 in a research report on Wednesday, August 2nd. BidaskClub cut Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, ValuEngine cut Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.40.
In other news, SVP Joel Christian Lambert sold 6,927 shares of the business’s stock in a transaction 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 filing with the SEC, which is accessible through this link. 36.20% of the stock is currently owned by insiders.
Crestwood Equity Partners LP (NYSE:CEQP) remained flat at $24.80 during mid-day trading on Friday. 140,634 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $24.77 and a 200 day moving average of $24.45. The company’s market capitalization is $1.73 billion. Crestwood Equity Partners LP has a 52-week low of $18.51 and a 52-week high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings data on Tuesday, August 1st. The pipeline company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.23). Crestwood Equity Partners had a negative return on equity of 1.13% and a negative net margin of 4.68%. The firm had revenue of $850.30 million during the quarter, compared to the consensus estimate of $706.34 million. During the same period in the prior year, the firm posted ($0.74) EPS. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. On average, equities research analysts forecast that Crestwood Equity Partners LP will post ($0.97) EPS for the current fiscal year.
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Crestwood Equity Partners 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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