Shares of Crestwood Equity Partners LP (NYSE:CEQP – Get Rating) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $34.75.
CEQP has been the subject of a number of research reports. StockNews.com downgraded Crestwood Equity Partners from a “buy” rating to a “hold” rating in a research report on Saturday, May 7th. Raymond James boosted their price target on Crestwood Equity Partners from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Finally, US Capital Advisors raised Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 25th.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. GPS Wealth Strategies Group LLC acquired a new stake in Crestwood Equity Partners during the second quarter valued at approximately $25,000. Selective Wealth Management Inc. acquired a new stake in Crestwood Equity Partners during the first quarter valued at approximately $34,000. Venture Visionary Partners LLC acquired a new stake in Crestwood Equity Partners during the second quarter valued at approximately $28,000. Versant Capital Management Inc acquired a new stake in Crestwood Equity Partners during the first quarter valued at approximately $57,000. Finally, Lee Financial Co raised its stake in Crestwood Equity Partners by 30.2% during the first quarter. Lee Financial Co now owns 2,333 shares of the pipeline company’s stock valued at $70,000 after buying an additional 541 shares in the last quarter. Institutional investors and hedge funds own 52.25% of the company’s stock.
Crestwood Equity Partners Price Performance
Crestwood Equity Partners (NYSE:CEQP – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). Crestwood Equity Partners had a net margin of 1.05% and a return on equity of 8.83%. During the same period in the previous year, the company posted ($0.49) EPS. Equities research analysts forecast that Crestwood Equity Partners will post 1.15 EPS for the current year.
Crestwood Equity Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 9.66%. The ex-dividend date is Thursday, August 4th. Crestwood Equity Partners’s dividend payout ratio is presently -1,871.43%.
Crestwood Equity Partners Company Profile
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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