Crestwood Equity Partners (NYSE:CEQP) had its price objective increased by Stifel Nicolaus from $27.00 to $30.00 in a research note published on Friday morning. Stifel Nicolaus currently has a buy rating on the pipeline company’s stock.
Several other equities analysts have also recently issued reports on CEQP. BidaskClub cut Crestwood Equity Partners from a hold rating to a sell rating in a research note on Tuesday, October 3rd. ValuEngine upgraded Crestwood Equity Partners from a sell rating to a hold rating in a research note on Tuesday, October 31st. UBS Group upgraded Crestwood Equity Partners from a neutral rating to a buy rating and lifted their price objective for the company from $26.00 to $27.00 in a research note on Monday, December 4th. Finally, Wells Fargo & Co upgraded Crestwood Equity Partners from a market perform rating to an outperform rating and boosted their target price for the stock from $28.00 to $32.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Crestwood Equity Partners has a consensus rating of Hold and a consensus price target of $29.67.
Shares of Crestwood Equity Partners (NYSE CEQP) traded up $0.25 on Friday, hitting $26.90. The stock had a trading volume of 409,800 shares, compared to its average volume of 355,189. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.91. The stock has a market cap of $1,890.00, a PE ratio of -9.54 and a beta of 2.49. Crestwood Equity Partners has a fifty-two week low of $20.00 and a fifty-two week high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings data on Tuesday, October 31st. The pipeline company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.65). The company had revenue of $955.60 million during the quarter, compared to analysts’ expectations of $830.77 million. Crestwood Equity Partners had a negative net margin of 5.36% and a negative return on equity of 3.34%. The business’s quarterly revenue was up 62.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS. research analysts forecast that Crestwood Equity Partners will post -1.61 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CEQP. First Trust Advisors LP purchased a new stake in Crestwood Equity Partners during the third quarter worth approximately $8,143,000. Goldman Sachs Group Inc. lifted its stake in Crestwood Equity Partners by 39.8% during the second quarter. Goldman Sachs Group Inc. now owns 823,922 shares of the pipeline company’s stock worth $19,363,000 after purchasing an additional 234,660 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Crestwood Equity Partners by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 916,230 shares of the pipeline company’s stock worth $22,448,000 after purchasing an additional 161,188 shares during the last quarter. ING Groep NV purchased a new stake in Crestwood Equity Partners during the third quarter worth approximately $2,294,000. Finally, GSA Capital Partners LLP lifted its stake in Crestwood Equity Partners by 722.0% during the third quarter. GSA Capital Partners LLP now owns 88,702 shares of the pipeline company’s stock worth $2,164,000 after purchasing an additional 77,911 shares during the last quarter. Hedge funds and other institutional investors own 65.46% of the company’s stock.
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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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