Royal Bank of Canada Lowers Crestwood Equity Partners (NYSE:CEQP) Price Target to $29.00

Crestwood Equity Partners (NYSE:CEQP – Get Rating) had its price target dropped by analysts at Royal Bank of Canada from $30.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.84% from the company’s current price.

A number of other brokerages have also recently issued reports on CEQP. Raymond James dropped their target price on shares of Crestwood Equity Partners from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, January 23rd. Citigroup reduced their target price on Crestwood Equity Partners from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Wells Fargo & Company decreased their target price on Crestwood Equity Partners from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 8th. StockNews.com raised Crestwood Equity Partners from a “sell” rating to a “hold” rating in a report on Tuesday, February 28th. Finally, Scotiabank started coverage on shares of Crestwood Equity Partners in a research report on Wednesday, March 1st. They issued a “sector outperform” rating and a $31.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

Crestwood Equity Partners Stock Performance

Shares of NYSE CEQP opened at $23.23 on Wednesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.04 and a current ratio of 1.28. The stock has a 50 day moving average price of $26.26 and a 200 day moving average price of $27.74. The stock has a market capitalization of $2.45 billion, a PE ratio of -83.00 and a beta of 2.52. Crestwood Equity Partners has a 52 week low of $22.28 and a 52 week high of $32.96.

Crestwood Equity Partners (NYSE:CEQP – Get Rating) last released its earnings results on Tuesday, February 21st. The pipeline company reported $0.26 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Analysts predict that Crestwood Equity Partners will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Arrow Investment Advisors LLC acquired a new stake in Crestwood Equity Partners during the third quarter worth about $224,000. Barclays PLC raised its position in Crestwood Equity Partners by 1,591.0% during the third quarter. Barclays PLC now owns 352,376 shares of the pipeline company’s stock valued at $9,786,000 after purchasing an additional 331,538 shares in the last quarter. Sigma Planning Corp raised its position in Crestwood Equity Partners by 6.5% during the second quarter. Sigma Planning Corp now owns 61,295 shares of the pipeline company’s stock valued at $1,476,000 after purchasing an additional 3,715 shares in the last quarter. NBW Capital LLC lifted its stake in Crestwood Equity Partners by 10.7% during the third 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 during the last quarter. Finally, Tranquility Partners LLC acquired a new stake in shares of Crestwood Equity Partners in the 3rd quarter valued at $236,000. 61.11% of the stock is owned by institutional investors.

Crestwood Equity Partners Company Profile

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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.