Crestwood Equity Partners (NYSE:CEQP) Price Target Lowered to $32.00 at Raymond James

Crestwood Equity Partners (NYSE:CEQPGet Rating) had its price target cut by Raymond James from $35.00 to $32.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the pipeline company’s stock.

A number of other research analysts also recently issued reports on the company. Citigroup started coverage on Crestwood Equity Partners in a report on Thursday, December 8th. They set a buy rating and a $32.00 price target on the stock. Wells Fargo & Company upgraded Crestwood Equity Partners from an equal weight rating to an overweight rating and set a $35.00 target price on the stock in a report on Friday, December 16th. Finally, StockNews.com downgraded Crestwood Equity Partners from a hold rating to a sell rating in a report on Saturday, January 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $34.25.

Crestwood Equity Partners Trading Up 4.2 %

NYSE CEQP opened at $27.50 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 current ratio of 1.55, a quick ratio of 1.30 and a debt-to-equity ratio of 2.03. The stock has a 50-day moving average of $27.76 and a 200-day moving average of $27.80. The firm has a market cap of $2.88 billion, a PE ratio of 110.00 and a beta of 2.53.

Crestwood Equity Partners (NYSE:CEQPGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The pipeline company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). Crestwood Equity Partners had a net margin of 0.94% and a return on equity of 8.72%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.63 billion. As a group, sell-side analysts forecast that Crestwood Equity Partners will post 0.57 EPS for the current year.

Crestwood Equity Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, February 7th will be paid a $0.655 dividend. The ex-dividend date is Monday, February 6th. This represents a $2.62 annualized dividend and a dividend yield of 9.53%. Crestwood Equity Partners’s payout ratio is currently 1,048.00%.

Institutional Trading of Crestwood Equity Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CEQP. Griffin Asset Management Inc. lifted its position in Crestwood Equity Partners by 46.3% in the 4th quarter. Griffin Asset Management Inc. now owns 13,482 shares of the pipeline company’s stock valued at $353,000 after acquiring an additional 4,266 shares in the last quarter. Stratos Wealth Advisors LLC bought a new position in Crestwood Equity Partners in the 4th quarter worth $249,000. Fiduciary Alliance LLC purchased a new stake in Crestwood Equity Partners in the 4th quarter worth $29,000. Maryland State Retirement & Pension System purchased a new stake in Crestwood Equity Partners in the 4th quarter worth $490,000. Finally, Pettinga Financial Advisors LLC increased its stake in Crestwood Equity Partners by 14.4% in the 4th quarter. Pettinga Financial Advisors LLC now owns 10,700 shares of the pipeline company’s stock worth $280,000 after buying an additional 1,350 shares in the last quarter. Hedge funds and other institutional investors own 61.11% of the company’s stock.

Crestwood Equity Partners Company Profile

(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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