StockNews.com Begins Coverage on Crestwood Equity Partners (NYSE:CEQP)

StockNews.com started coverage on shares of Crestwood Equity Partners (NYSE:CEQP – Get Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the pipeline company’s stock.

A number of other equities research analysts have also commented on the company. US Capital Advisors lowered Crestwood Equity Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Royal Bank of Canada reduced their price target on Crestwood Equity Partners from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday. Scotiabank assumed coverage on Crestwood Equity Partners in a research note on Wednesday, March 1st. They issued a “sector outperform” rating and a $31.00 price objective on the stock. Citigroup dropped 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. Finally, Wells Fargo & Company dropped their price objective on Crestwood Equity Partners from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Crestwood Equity Partners has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Crestwood Equity Partners Trading Down 4.7 %

Shares of CEQP stock opened at $23.24 on Thursday. The stock’s fifty day simple moving average is $26.33 and its 200 day simple moving average is $27.77. Crestwood Equity Partners has a twelve month low of $22.88 and a twelve month high of $32.96. The firm has a market capitalization of $2.45 billion, a P/E ratio of -83.00 and a beta of 2.52. The company has a quick ratio of 1.04, a current ratio of 1.28 and a debt-to-equity ratio of 1.95.

Crestwood Equity Partners (NYSE:CEQP – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The pipeline company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Crestwood Equity Partners had a return on equity of 6.31% and a net margin of 0.52%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, sell-side analysts predict that Crestwood Equity Partners will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Arrow Investment Advisors LLC acquired a new position in Crestwood Equity Partners during the 3rd quarter worth approximately $224,000. Barclays PLC increased its holdings in Crestwood Equity Partners by 1,591.0% during the 3rd quarter. Barclays PLC now owns 352,376 shares of the pipeline company’s stock worth $9,786,000 after purchasing an additional 331,538 shares in the last quarter. Sigma Planning Corp increased its holdings in Crestwood Equity Partners by 6.5% during the 2nd quarter. Sigma Planning Corp now owns 61,295 shares of the pipeline company’s stock worth $1,476,000 after purchasing an additional 3,715 shares in the last quarter. NBW Capital LLC increased its holdings in Crestwood Equity Partners by 10.7% during the 3rd quarter. NBW Capital LLC now owns 331,628 shares of the pipeline company’s stock worth $9,209,000 after purchasing an additional 32,014 shares in the last quarter. Finally, Tranquility Partners LLC bought a new stake in Crestwood Equity Partners during the 3rd quarter worth approximately $236,000. 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.