Crestwood Equity Partners (NYSE:CEQP) Lifted to “Buy” at US Capital Advisors

Crestwood Equity Partners (NYSE:CEQPGet Rating) was upgraded by equities research analysts at US Capital Advisors from a “hold” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. US Capital Advisors also issued estimates for Crestwood Equity Partners’ Q3 2022 earnings at $0.53 EPS, Q4 2022 earnings at $0.73 EPS and FY2023 earnings at $2.49 EPS.

A number of other equities analysts have also recently commented on CEQP. Wells Fargo & Company lifted their target price on Crestwood Equity Partners from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, March 3rd. Royal Bank of Canada boosted their price objective on shares of Crestwood Equity Partners from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, April 4th. StockNews.com started coverage on shares of Crestwood Equity Partners in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Raymond James upped their price target on shares of Crestwood Equity Partners from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $34.40.

Shares of CEQP opened at $29.12 on Monday. The stock has a market capitalization of $2.85 billion, a PE ratio of -13.87 and a beta of 3.15. The company’s fifty day moving average is $30.39 and its 200 day moving average is $28.84. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.75 and a current ratio of 1.01. Crestwood Equity Partners has a fifty-two week low of $23.57 and a fifty-two week high of $33.94.

Crestwood Equity Partners (NYSE:CEQPGet Rating) last posted its earnings results on Tuesday, April 26th. The pipeline company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.71). Crestwood Equity Partners had a positive return on equity of 0.09% and a negative net margin of 1.72%. During the same quarter in the prior year, the company earned ($0.86) earnings per share. As a group, research analysts forecast that Crestwood Equity Partners will post 2.05 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of Crestwood Equity Partners by 3.5% during the 4th quarter. Alps Advisors Inc. now owns 7,518,269 shares of the pipeline company’s stock worth $207,429,000 after acquiring an additional 255,497 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Crestwood Equity Partners by 8.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,379,095 shares of the pipeline company’s stock valued at $65,640,000 after acquiring an additional 185,329 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Crestwood Equity Partners by 5.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,795,469 shares of the pipeline company’s stock worth $49,537,000 after buying an additional 100,507 shares during the last quarter. Morgan Stanley raised its stake in Crestwood Equity Partners by 24.3% in the 2nd quarter. Morgan Stanley now owns 1,429,700 shares of the pipeline company’s stock worth $42,862,000 after acquiring an additional 279,909 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Crestwood Equity Partners by 12.1% during the fourth quarter. Bank of America Corp DE now owns 1,085,980 shares of the pipeline company’s stock worth $29,962,000 after purchasing an additional 117,070 shares during the period. 47.41% of the stock is currently owned by institutional investors and hedge funds.

About Crestwood Equity Partners (Get Rating)

Crestwood Equity Partners LP develops, acquires, owns, controls, and operates assets and operations in the energy midstream sector in the United States. It operates through three segments: Gathering and Processing North; Gathering and Processing South; and Storage and Logistics. The Gathering and Processing North segment offers natural gas, crude oil, and produced water gathering, compression, treating, processing, and disposal services to producers in the Williston Basin and Powder River Basin.

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Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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