Crestwood Equity Partners LP (NYSE:CEQP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Crestwood Equity Partners LP (NYSE:CEQP – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $29.88.

Several research analysts recently weighed in on the company. Stifel Nicolaus dropped their target price on Crestwood Equity Partners from $30.00 to $29.00 in a research note on Wednesday, May 17th. JPMorgan Chase & Co. downgraded Crestwood Equity Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $31.00 to $28.00 in a research note on Tuesday, March 14th. Royal Bank of Canada dropped their target price on Crestwood Equity Partners from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 15th. Wells Fargo & Company dropped their price target 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. Finally, Truist Financial dropped their price target on Crestwood Equity Partners from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 27th.

Crestwood Equity Partners Trading Down 1.2 %

Shares of NYSE:CEQP opened at $25.67 on Tuesday. Crestwood Equity Partners has a 12-month low of $22.11 and a 12-month high of $31.46. The business’s fifty day simple moving average is $24.49 and its 200-day simple moving average is $26.26. The company has a market capitalization of $2.70 billion, a PE ratio of -285.22 and a beta of 2.51. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.98.

Crestwood Equity Partners (NYSE:CEQP – Get Rating) last announced its earnings results on Tuesday, May 2nd. The pipeline company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Crestwood Equity Partners had a return on equity of 7.53% and a net margin of 0.89%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.51 billion. As a group, equities research analysts predict that Crestwood Equity Partners will post 1.63 earnings per share for the current fiscal year.

Crestwood Equity Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 8th were issued a $0.655 dividend. The ex-dividend date was Friday, May 5th. This represents a $2.62 annualized dividend and a dividend yield of 10.21%. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently -2,911.11%.

Hedge Funds Weigh In On Crestwood Equity Partners

Several institutional investors and hedge funds have recently modified their holdings of CEQP. Raymond James & Associates lifted its holdings in shares of Crestwood Equity Partners by 91.5% in the 1st quarter. Raymond James & Associates now owns 60,954 shares of the pipeline company’s stock valued at $1,824,000 after buying an additional 29,126 shares during the period. US Bancorp DE raised its holdings in Crestwood Equity Partners by 3.4% in the 1st quarter. US Bancorp DE now owns 26,596 shares of the pipeline company’s stock worth $796,000 after purchasing an additional 870 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Crestwood Equity Partners by 13.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,246 shares of the pipeline company’s stock worth $247,000 after purchasing an additional 997 shares during the period. HighTower Advisors LLC raised its holdings in Crestwood Equity Partners by 18.0% in the 1st quarter. HighTower Advisors LLC now owns 27,502 shares of the pipeline company’s stock worth $823,000 after purchasing an additional 4,188 shares during the period. Finally, Private Advisor Group LLC acquired a new position in Crestwood Equity Partners in the 1st quarter worth about $631,000. Institutional investors and hedge funds own 61.11% of the company’s stock.

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.