Crestwood Equity Partners LP (CEQP) Receives $36.75 Average Target Price from Analysts

Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been assigned an average rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $36.75.

A number of research analysts have commented on the company. Bank of America boosted their price objective on Crestwood Equity Partners from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Stifel Nicolaus lifted their target price on Crestwood Equity Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Raymond James lifted their target price on Crestwood Equity Partners from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 24th. ValuEngine raised Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Barclays lifted their target price on Crestwood Equity Partners from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 29th.

Shares of CEQP opened at $34.65 on Friday. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -29.85, a P/E/G ratio of 89.72 and a beta of 2.66. Crestwood Equity Partners has a 12 month low of $22.15 and a 12 month high of $40.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 1.13.



Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings data on Tuesday, October 30th. The pipeline company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.32). The company had revenue of $930.20 million for the quarter, compared to analyst estimates of $845.40 million. Crestwood Equity Partners had a negative return on equity of 1.09% and a negative net margin of 4.14%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.72) EPS. As a group, equities research analysts predict that Crestwood Equity Partners will post 0.08 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date is Tuesday, November 6th. Crestwood Equity Partners’s payout ratio is -206.90%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Crestwood Equity Partners by 6.4% during the third quarter. Alps Advisors Inc. now owns 4,324,505 shares of the pipeline company’s stock worth $158,926,000 after acquiring an additional 261,315 shares during the last quarter. Perella Weinberg Partners Capital Management LP increased its position in shares of Crestwood Equity Partners by 139.3% during the second quarter. Perella Weinberg Partners Capital Management LP now owns 1,155,129 shares of the pipeline company’s stock worth $36,675,000 after acquiring an additional 672,466 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Crestwood Equity Partners by 8,381.7% in the second quarter. Advisors Asset Management Inc. now owns 1,111,527 shares of the pipeline company’s stock valued at $723,000 after buying an additional 1,098,422 shares during the last quarter. Bank of Montreal Can increased its holdings in Crestwood Equity Partners by 10.7% in the second quarter. Bank of Montreal Can now owns 1,078,759 shares of the pipeline company’s stock valued at $34,251,000 after buying an additional 104,006 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Crestwood Equity Partners by 45.7% in the second quarter. Renaissance Technologies LLC now owns 422,381 shares of the pipeline company’s stock valued at $13,411,000 after buying an additional 132,499 shares during the last quarter. 68.75% 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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Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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