Crestwood Equity Partners (NYSE:CEQP) Earns Hold Rating from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Crestwood Equity Partners (NYSE:CEQP) in a report issued on Sunday. The firm set a “hold” rating on the pipeline company’s stock.

A number of other equities research analysts have also issued reports on CEQP. Raymond James lowered Crestwood Equity Partners from an “outperform” rating to a “market perform” rating and set a $30.00 price target for the company. in a research note on Friday, August 25th. Citigroup downgraded Crestwood Equity Partners from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $28.00 in a research note on Wednesday, August 2nd. Truist Financial lowered shares of Crestwood Equity Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $31.00 to $28.00 in a research report on Friday, August 18th. JPMorgan Chase & Co. cut shares of Crestwood Equity Partners from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $30.00 to $28.00 in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus reduced their price objective on Crestwood Equity Partners from $30.00 to $29.00 in a research note on Wednesday, May 17th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.13.

Crestwood Equity Partners Stock Performance

Shares of Crestwood Equity Partners stock opened at $28.90 on Friday. The company has a market cap of $3.04 billion, a PE ratio of 31.08 and a beta of 2.44. Crestwood Equity Partners has a 52 week low of $22.11 and a 52 week high of $31.46. The company has a quick ratio of 1.10, a current ratio of 1.37 and a debt-to-equity ratio of 1.87. The business has a 50 day moving average price of $27.52 and a 200-day moving average price of $25.97.

Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.90. Crestwood Equity Partners had a return on equity of 14.05% and a net margin of 3.11%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.14 EPS. Equities analysts anticipate that Crestwood Equity Partners will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crestwood Equity Partners

Several large investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC grew its stake in shares of Crestwood Equity Partners by 101,693.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 543,825,315 shares of the pipeline company’s stock worth $14,242,785,000 after purchasing an additional 543,291,069 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Crestwood Equity Partners by 21.3% in the fourth quarter. Alps Advisors Inc. now owns 12,335,027 shares of the pipeline company’s stock worth $323,054,000 after purchasing an additional 2,165,569 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Crestwood Equity Partners by 33,944.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,516,383 shares of the pipeline company’s stock worth $119,594,000 after acquiring an additional 4,503,117 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Crestwood Equity Partners by 4.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,947,549 shares of the pipeline company’s stock valued at $78,051,000 after buying an additional 128,965 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Crestwood Equity Partners by 1.8% in the second quarter. Clearbridge Investments LLC now owns 2,521,298 shares of the pipeline company’s stock valued at $66,764,000 after purchasing an additional 45,380 shares in the last quarter. 55.64% of the stock is owned by institutional investors and hedge funds.

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. The company 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.