Janney Montgomery Scott LLC Buys 921 Shares of Crestwood Equity Partners LP (NYSE:CEQP)

Janney Montgomery Scott LLC lifted its stake in shares of Crestwood Equity Partners LP (NYSE:CEQPGet Rating) by 8.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,537 shares of the pipeline company’s stock after purchasing an additional 921 shares during the period. Janney Montgomery Scott LLC’s holdings in Crestwood Equity Partners were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Crestwood Equity Partners by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,433,628 shares of the pipeline company’s stock worth $72,814,000 after purchasing an additional 54,533 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Crestwood Equity Partners by 23.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,222,817 shares of the pipeline company’s stock worth $66,507,000 after acquiring an additional 427,348 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Crestwood Equity Partners by 108.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,381,253 shares of the pipeline company’s stock worth $41,327,000 after acquiring an additional 717,779 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Crestwood Equity Partners by 92.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,314,818 shares of the pipeline company’s stock worth $39,339,000 after acquiring an additional 633,000 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Crestwood Equity Partners by 9.8% during the 1st quarter. Bank of America Corp DE now owns 1,192,637 shares of the pipeline company’s stock worth $35,684,000 after acquiring an additional 106,657 shares during the last quarter. Institutional investors own 43.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CEQP shares. Wells Fargo & Company boosted their target price on Crestwood Equity Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com lowered Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Monday, November 7th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Insider Transactions at Crestwood Equity Partners

In other news, major shareholder Energy Corp Chord sold 11,400,000 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.10% of the stock is currently owned by insiders.

Crestwood Equity Partners Stock Performance

Shares of NYSE CEQP opened at $29.28 on Wednesday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 117.12 and a beta of 2.57. Crestwood Equity Partners LP has a one year low of $22.88 and a one 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 stock’s fifty day moving average price is $29.19 and its two-hundred day moving average price is $27.70.

Crestwood Equity Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, November 7th were issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 8.95%. The ex-dividend date of this dividend was Friday, November 4th. Crestwood Equity Partners’s dividend payout ratio (DPR) is currently 1,048.00%.

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.

See Also

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Institutional Ownership by Quarter for Crestwood Equity Partners (NYSE:CEQP)

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