US Capital Advisors Equities Analysts Lower Earnings Estimates for Crestwood Equity Partners LP (NYSE:CEQP)

Crestwood Equity Partners LP (NYSE:CEQPGet Rating) – Equities researchers at US Capital Advisors cut their Q1 2022 EPS estimates for shares of Crestwood Equity Partners in a research note issued to investors on Monday, April 25th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.22 per share for the quarter, down from their previous forecast of $0.59. US Capital Advisors currently has a “Buy” rating on the stock. US Capital Advisors also issued estimates for Crestwood Equity Partners’ Q2 2022 earnings at $0.31 EPS, FY2022 earnings at $1.79 EPS, Q1 2023 earnings at $0.56 EPS, Q2 2023 earnings at $0.54 EPS, Q3 2023 earnings at $0.64 EPS, Q4 2023 earnings at $0.74 EPS and FY2024 earnings at $3.44 EPS.

Crestwood Equity Partners (NYSE:CEQPGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The pipeline company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.41). Crestwood Equity Partners had a positive return on equity of 0.09% and a negative net margin of 1.72%. During the same period last year, the firm posted ($0.86) earnings per share.

Several other research analysts have also recently commented on the company. Raymond James boosted their price target on Crestwood Equity Partners from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. Royal Bank of Canada boosted their price target on Crestwood Equity Partners from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, April 4th. Wells Fargo & Company boosted their price target on Crestwood Equity Partners from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 3rd. Finally, StockNews.com began coverage on Crestwood Equity Partners in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.40.

NYSE:CEQP opened at $29.01 on Thursday. 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 one year low of $23.57 and a one year high of $33.94. The business’s 50-day simple moving average is $30.39 and its 200 day simple moving average is $28.85. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -13.81 and a beta of 3.15.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, May 6th will be paid a dividend of $0.655 per share. The ex-dividend date of this dividend is Thursday, May 5th. This represents a $2.62 annualized dividend and a yield of 9.03%. This is a boost from Crestwood Equity Partners’s previous quarterly dividend of $0.63. Crestwood Equity Partners’s dividend payout ratio is presently -119.05%.

Institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its position in shares of Crestwood Equity Partners by 184.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 974 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 632 shares during the period. Selective Wealth Management Inc. acquired a new stake in shares of Crestwood Equity Partners during the 1st quarter worth approximately $34,000. Pacer Advisors Inc. raised its position in shares of Crestwood Equity Partners by 64.1% during the 1st quarter. Pacer Advisors Inc. now owns 6,275 shares of the pipeline company’s stock worth $188,000 after purchasing an additional 2,450 shares during the period. Spirit of America Management Corp NY acquired a new stake in shares of Crestwood Equity Partners during the 4th quarter worth approximately $193,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Crestwood Equity Partners during the 4th quarter worth approximately $200,000. Institutional investors and hedge funds own 47.41% of the company’s stock.

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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Earnings History and Estimates for Crestwood Equity Partners (NYSE:CEQP)

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