Crestwood Equity Partners (NYSE:CEQP) PT Lowered to $29.00

Crestwood Equity Partners (NYSE:CEQP – Get Rating) had its price target cut by equities researchers at Royal Bank of Canada from $30.00 to $29.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 24.84% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Raymond James dropped their price objective on shares of Crestwood Equity Partners from $35.00 to $32.00 and set an “outperform” rating for the company in a research report on Monday, January 23rd. Citigroup reduced their price objective on Crestwood Equity Partners from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, February 27th. JPMorgan Chase & Co. downgraded Crestwood Equity Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $31.00 to $28.00 in a research report on Tuesday. StockNews.com upgraded Crestwood Equity Partners from a “sell” rating to a “hold” rating in a report on Tuesday, February 28th. Finally, Wells Fargo & Company decreased their price target on Crestwood Equity Partners from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, March 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

Crestwood Equity Partners Stock Down 0.0 %

CEQP opened at $23.23 on Wednesday. Crestwood Equity Partners has a 12 month low of $22.28 and a 12 month high of $32.96. The business has a 50-day moving average of $26.26 and a two-hundred day moving average of $27.74. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.28 and a quick ratio of 1.04. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -83.00 and a beta of 2.52.

Crestwood Equity Partners (NYSE:CEQP – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Crestwood Equity Partners had a net margin of 0.52% and a return on equity of 6.31%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, research analysts expect that Crestwood Equity Partners will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its stake in shares of Crestwood Equity Partners by 71.4% in the third quarter. Quadrant Capital Group LLC now owns 922 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 384 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in Crestwood Equity Partners during the 4th quarter valued at about $29,000. Rockefeller Capital Management L.P. raised its position in shares of 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 worth $53,000 after buying an additional 427 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Crestwood Equity Partners by 629.5% in the third quarter. Tower Research Capital LLC TRC now owns 3,385 shares of the pipeline company’s stock valued at $94,000 after acquiring an additional 2,921 shares in the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of Crestwood Equity Partners by 7.3% in the second quarter. Credit Suisse AG now owns 7,501 shares of the pipeline company’s stock valued at $181,000 after acquiring an additional 511 shares in the last quarter. 61.11% of the stock is owned by institutional investors and hedge funds.

About Crestwood Equity Partners

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Crestwood Equity Partners LP engages in investment and management of energy midstream assets. It operates through the following segments: Gathering and Processing, Storage and Transportation, and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering and transportation services, processing, treating, and compression services, and disposal services to producers in unconventional shale plays and tight-gas plays.