Crestwood Equity Partners LP (NYSE:CEQP) saw some unusual options trading on Tuesday. Stock traders bought 2,011 call options on the stock. This is an increase of approximately 3,922% compared to the typical volume of 50 call options.
Several equities research analysts have recently commented on CEQP shares. Royal Bank of Canada raised Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $44.00 in a report on Friday, August 23rd. Barclays set a $40.00 price objective on Crestwood Equity Partners and gave the company a “hold” rating in a report on Tuesday, October 15th. UBS Group increased their price objective on Crestwood Equity Partners from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America increased their price objective on Crestwood Equity Partners from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Raymond James raised Crestwood Equity Partners from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $42.71.
A number of institutional investors have recently made changes to their positions in CEQP. Squar Milner Financial Services LLC acquired a new stake in Crestwood Equity Partners during the 2nd quarter valued at $33,000. Mascoma Wealth Management LLC acquired a new stake in Crestwood Equity Partners during the 2nd quarter valued at $55,000. Toroso Investments LLC acquired a new stake in Crestwood Equity Partners during the 2nd quarter valued at $214,000. Marshall Wace LLP acquired a new stake in Crestwood Equity Partners during the 2nd quarter valued at $323,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in Crestwood Equity Partners during the 2nd quarter valued at $431,000. 72.01% of the stock is owned by institutional investors and hedge funds.
Shares of Crestwood Equity Partners stock opened at $32.65 on Thursday. The business has a fifty day simple moving average of $35.86 and a two-hundred day simple moving average of $35.85. Crestwood Equity Partners has a 1 year low of $26.55 and a 1 year high of $40.00. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 155.48, a P/E/G ratio of 5.29 and a beta of 2.00. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.99 and a quick ratio of 0.88.
Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings results on Tuesday, October 29th. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). Crestwood Equity Partners had a net margin of 9.76% and a return on equity of 6.35%. The business had revenue of $823.60 million for the quarter, compared to analyst estimates of $689.30 million. During the same period in the prior year, the business earned ($0.34) EPS. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Crestwood Equity Partners will post 1.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 7.35%. The ex-dividend date is Wednesday, November 6th. Crestwood Equity Partners’s dividend payout ratio is 1,142.86%.
About Crestwood Equity Partners
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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