Barclays upgraded shares of Crestwood Equity Partners (NYSE:CEQP) from an equal weight rating to an overweight rating in a report published on Tuesday, January 14th, BenzingaRatingsTable reports. Barclays currently has $37.00 target price on the pipeline company’s stock.
A number of other research analysts have also issued reports on CEQP. Raymond James upgraded Crestwood Equity Partners from an outperform rating to a strong-buy rating and set a $40.00 price target for the company in a research report on Wednesday, October 23rd. TheStreet lowered Crestwood Equity Partners from a b rating to a c+ rating in a report on Monday, November 18th. Finally, ValuEngine upgraded Crestwood Equity Partners from a sell rating to a hold rating in a report on Saturday, December 7th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $41.80.
NYSE CEQP opened at $30.22 on Tuesday. Crestwood Equity Partners has a 1-year low of $29.64 and a 1-year high of $40.00. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.99 and a quick ratio of 0.88. The firm has a market capitalization of $2.23 billion, a P/E ratio of 9.44, a P/E/G ratio of 5.26 and a beta of 1.90. The business’s 50-day simple moving average is $31.27 and its 200-day simple moving average is $34.19.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings results on Tuesday, October 29th. The pipeline company reported $0.12 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $689.30 million. During the same quarter last year, the firm posted ($0.34) earnings per share. Crestwood Equity Partners’s revenue was down 11.5% compared to the same quarter last year. On average, equities research analysts expect that Crestwood Equity Partners will post 0.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 8.27%. This is a positive change from Crestwood Equity Partners’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, February 6th. Crestwood Equity Partners’s payout ratio is presently 1,142.86%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Crestwood Equity Partners in the 3rd quarter worth approximately $351,000. BBVA USA Bancshares Inc. acquired a new stake in Crestwood Equity Partners during the 3rd quarter valued at $507,000. Stifel Financial Corp increased its holdings in Crestwood Equity Partners by 2.7% during 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 increased its holdings in Crestwood Equity Partners by 9.0% during 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 increased its holdings in Crestwood Equity Partners by 23.6% during 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 71.24% 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.
