Crestwood Equity Partners (NYSE:CEQP) Stock Rating Lowered by StockNews.com

Crestwood Equity Partners (NYSE:CEQPGet Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Separately, Wells Fargo & Company upped 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, September 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Crestwood Equity Partners currently has an average rating of “Moderate Buy” and an average price target of $34.75.

Crestwood Equity Partners Trading Up 1.3 %

CEQP stock opened at $29.96 on Monday. Crestwood Equity Partners has a 1-year low of $22.88 and a 1-year high of $32.96. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.55 and a quick ratio of 1.30. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 119.84 and a beta of 2.57. The business has a 50 day simple moving average of $28.97 and a two-hundred day simple moving average of $27.72.

Insider Transactions at Crestwood Equity Partners

In other news, major shareholder Energy Corp Chord sold 11,400,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $26.71, for a total transaction of $304,494,000.00. Following the sale, the insider now directly owns 9,585,668 shares of the company’s stock, valued at approximately $256,033,192.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.10% of the company’s stock.

Institutional Trading of Crestwood Equity Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Empirical Asset Management LLC raised its holdings in Crestwood Equity Partners by 2.3% during the 1st quarter. Empirical Asset Management LLC now owns 17,291 shares of the pipeline company’s stock valued at $517,000 after buying an additional 383 shares during the period. Janney Montgomery Scott LLC raised its holdings in Crestwood Equity Partners by 3.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,616 shares of the pipeline company’s stock valued at $318,000 after buying an additional 388 shares during the period. Van ECK Associates Corp raised its holdings in Crestwood Equity Partners by 4.2% during the 3rd quarter. Van ECK Associates Corp now owns 10,140 shares of the pipeline company’s stock valued at $282,000 after buying an additional 412 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Crestwood Equity Partners by 28.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,927 shares of the pipeline company’s stock valued at $53,000 after buying an additional 427 shares during the period. Finally, Brookstone Capital Management raised its holdings in Crestwood Equity Partners by 2.3% during the 2nd quarter. Brookstone Capital Management now owns 20,099 shares of the pipeline company’s stock valued at $487,000 after buying an additional 459 shares during the period. Hedge funds and other institutional investors own 43.81% 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.

Further Reading

Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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