Barclays upgraded shares of Crestwood Equity Partners (NYSE:CEQP) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has $37.00 price objective on the pipeline company’s stock.
Other equities analysts also recently issued research reports about the company. TheStreet downgraded Crestwood Equity Partners from a b rating to a c+ rating in a research report on Monday, November 18th. ValuEngine raised Crestwood Equity Partners from a sell rating to a hold rating in a report on Saturday, December 7th. Finally, Raymond James raised Crestwood Equity Partners from an outperform rating to a strong-buy rating and set a $40.00 price target for the company in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $41.80.
CEQP opened at $32.29 on Tuesday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 153.76, a PEG ratio of 4.20 and a beta of 1.90. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 1.73. Crestwood Equity Partners has a 12 month low of $29.64 and a 12 month high of $40.00. The stock has a fifty day moving average price of $31.29 and a 200-day moving average price of $34.36.
Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings results on Tuesday, October 29th. The pipeline company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $823.60 million for the quarter, compared to analysts’ expectations of $689.30 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, equities research analysts forecast that Crestwood Equity Partners will post 1.36 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of Crestwood Equity Partners during the third quarter worth about $351,000. BBVA USA Bancshares Inc. purchased a new stake in Crestwood Equity Partners in the 3rd quarter valued at approximately $507,000. Stifel Financial Corp boosted its holdings in Crestwood Equity Partners by 2.7% in the 3rd quarter. Stifel Financial Corp now owns 127,738 shares of the pipeline company’s stock valued at $4,664,000 after purchasing an additional 3,357 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Crestwood Equity Partners by 9.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 176,300 shares of the pipeline company’s stock valued at $6,437,000 after purchasing an additional 14,500 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Crestwood Equity Partners by 23.6% in the 3rd quarter. California Public Employees Retirement System now owns 113,101 shares of the pipeline company’s stock valued at $4,129,000 after purchasing an additional 21,632 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
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.
