Crestwood Equity Partners (NYSE:CEQP) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Crestwood Equity Partners (NYSE:CEQPGet Rating) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

CEQP has been the subject of several other research reports. Raymond James increased their price target on shares of Crestwood Equity Partners from $34.00 to $35.00 and gave the company an outperform rating in a research report on Wednesday, April 20th. US Capital Advisors upgraded shares of Crestwood Equity Partners from a hold rating to a buy rating in a research report on Monday, April 25th. Royal Bank of Canada increased their price target 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. Finally, Wells Fargo & Company increased their price target on shares of Crestwood Equity Partners from $32.00 to $34.00 and gave the company an equal weight rating in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $34.40.

NYSE CEQP opened at $29.16 on Friday. Crestwood Equity Partners has a 1 year low of $23.57 and a 1 year high of $33.94. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 2.23. The company has a fifty day moving average price of $30.43 and a 200-day moving average price of $28.85.

Crestwood Equity Partners (NYSE:CEQPGet Rating) last posted its earnings results on Tuesday, April 26th. The pipeline company reported ($0.04) earnings per share (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 6.53% and a negative net margin of 0.35%. During the same quarter in the prior year, the business posted ($0.86) earnings per share. Equities research analysts forecast that Crestwood Equity Partners will post 1.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, May 6th will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 8.98%. The ex-dividend date of this dividend is Thursday, May 5th. This is a positive change from Crestwood Equity Partners’s previous quarterly dividend of $0.63. Crestwood Equity Partners’s dividend payout ratio (DPR) is currently -195.31%.

A number of large investors have recently modified their holdings of the business. Alps Advisors Inc. boosted its position in Crestwood Equity Partners by 3.5% during the fourth quarter. Alps Advisors Inc. now owns 7,518,269 shares of the pipeline company’s stock worth $207,429,000 after purchasing an additional 255,497 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Crestwood Equity Partners by 8.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,379,095 shares of the pipeline company’s stock worth $65,640,000 after buying an additional 185,329 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 in the last quarter. Morgan Stanley lifted its holdings in shares of Crestwood Equity Partners by 24.3% in the second quarter. Morgan Stanley now owns 1,429,700 shares of the pipeline company’s stock worth $42,862,000 after buying an additional 279,909 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Crestwood Equity Partners by 12.1% in 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 buying an additional 117,070 shares in the last quarter. Hedge funds and other institutional investors own 47.41% of the company’s stock.

Crestwood Equity Partners Company Profile (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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