Crestwood Equity Partners LP (NYSE:CEQP – Get Rating) – Analysts at US Capital Advisors increased their Q3 2022 earnings per share estimates for Crestwood Equity Partners in a research report issued to clients and investors on Monday, April 25th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $0.53 for the quarter, up from their previous estimate of $0.50. US Capital Advisors currently has a “Buy” rating on the stock. US Capital Advisors also issued estimates for Crestwood Equity Partners’ Q4 2022 earnings at $0.73 EPS and FY2023 earnings at $2.49 EPS.
Crestwood Equity Partners (NYSE:CEQP – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The pipeline company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 period in the prior year, the business earned ($0.86) earnings per share.
CEQP stock opened at $29.12 on Wednesday. The company has a market capitalization of $2.85 billion, a P/E ratio of -13.87 and a beta of 3.15. 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 52-week low of $23.57 and a 52-week high of $33.94. The business has a 50-day simple moving average of $30.39 and a two-hundred day simple moving average of $28.84.
A number of hedge funds have recently modified their holdings of the stock. First Trust Advisors LP raised its position in Crestwood Equity Partners by 1.0% in the first quarter. First Trust Advisors LP now owns 129,019 shares of the pipeline company’s stock worth $4,540,000 after acquiring an additional 1,241 shares during the period. Morgan Stanley raised its position in shares of Crestwood Equity Partners by 24.3% during the 2nd quarter. Morgan Stanley now owns 1,429,700 shares of the pipeline company’s stock valued at $42,862,000 after purchasing an additional 279,909 shares during the period. Janney Montgomery Scott LLC increased its holdings in Crestwood Equity Partners by 3.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,171 shares of the pipeline company’s stock valued at $317,000 after acquiring an additional 380 shares during the last quarter. Brookstone Capital Management increased its holdings in Crestwood Equity Partners by 2.3% in the 3rd quarter. Brookstone Capital Management now owns 18,038 shares of the pipeline company’s stock valued at $535,000 after acquiring an additional 409 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in Crestwood Equity Partners by 49.8% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 2,577,836 shares of the pipeline company’s stock valued at $73,159,000 after acquiring an additional 856,500 shares during the last quarter. Institutional investors own 47.41% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, May 6th will be issued a dividend of $0.655 per share. This is a boost from Crestwood Equity Partners’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, May 5th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 9.00%. Crestwood Equity Partners’s dividend payout ratio is presently -119.05%.
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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