Crestwood Equity Partners (NYSE:CEQP) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage presently has a $37.00 target price on the pipeline company’s stock. Barclays‘s price objective would suggest a potential upside of 12.84% from the stock’s previous close.
CEQP has been the subject of a number of other research reports. TheStreet downgraded shares of Crestwood Equity Partners from a “b” rating to a “c+” rating in a research report on Monday, November 18th. Raymond James upgraded shares of Crestwood Equity Partners from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Wednesday, October 23rd. Finally, ValuEngine upgraded shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research report on Saturday, December 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.80.
CEQP stock opened at $32.79 on Tuesday. Crestwood Equity Partners has a 12-month low of $29.64 and a 12-month high of $40.00. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 1.73. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 156.14, a PEG ratio of 4.20 and a beta of 1.90. The company has a 50 day moving average of $31.27 and a two-hundred day moving average of $34.39.
Crestwood Equity Partners (NYSE:CEQP) last released its earnings results on Tuesday, October 29th. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Crestwood Equity Partners had a return on equity of 6.35% and a net margin of 9.76%. The company had revenue of $823.60 million during the quarter, compared to analysts’ expectations of $689.30 million. During the same quarter in the previous year, the company earned ($0.34) EPS. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, research analysts anticipate that Crestwood Equity Partners will post 1.36 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its stake in shares of Crestwood Equity Partners by 37.8% during the 3rd quarter. Alps Advisors Inc. now owns 5,946,615 shares of the pipeline company’s stock worth $217,111,000 after purchasing an additional 1,632,252 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Crestwood Equity Partners by 10.0% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,244,832 shares of the pipeline company’s stock worth $81,952,000 after purchasing an additional 205,000 shares during the last quarter. Invesco Ltd. increased its stake in shares of Crestwood Equity Partners by 8,014.0% during the 2nd quarter. Invesco Ltd. now owns 796,953 shares of the pipeline company’s stock worth $28,507,000 after purchasing an additional 787,131 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Crestwood Equity Partners during the 3rd quarter worth $15,766,000. Finally, Cohen & Steers Inc. increased its stake in shares of Crestwood Equity Partners by 9.2% during the 2nd quarter. Cohen & Steers Inc. now owns 409,991 shares of the pipeline company’s stock worth $14,665,000 after purchasing an additional 34,462 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.
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.
