Crestwood Equity Partners (NYSE:CEQP) has been given a $40.00 price target by research analysts at Barclays in a research report issued on Tuesday, October 15th, TipRanks reports. The brokerage currently has a “hold” rating on the pipeline company’s stock. Barclays‘s target price points to a potential upside of 25.23% from the stock’s current price.
Other equities analysts have also issued reports about the company. Stifel Nicolaus upgraded Crestwood Equity Partners from a “hold” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $46.00 in a research report on Wednesday, July 31st. Bank of America upped their price objective on Crestwood Equity Partners from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada raised Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $44.00 in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $42.71.
Shares of Crestwood Equity Partners stock traded down $0.12 during trading on Tuesday, hitting $31.94. 361,027 shares of the company were exchanged, compared to its average volume of 286,343. The firm has a market capitalization of $2.53 billion, a P/E ratio of 152.10, a price-to-earnings-growth ratio of 5.17 and a beta of 2.00. Crestwood Equity Partners has a 1-year low of $26.55 and a 1-year high of $40.00. The firm’s fifty day moving average price is $35.57 and its 200 day moving average price is $35.81. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.99 and a quick ratio of 0.88.
Crestwood Equity Partners (NYSE:CEQP) last posted its earnings results on Tuesday, October 29th. The pipeline company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.03). The company had revenue of $823.60 million for the quarter, compared to analyst estimates of $689.30 million. Crestwood Equity Partners had a return on equity of 6.35% and a net margin of 9.76%. Crestwood Equity Partners’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. As a group, equities research analysts anticipate that Crestwood Equity Partners will post 1.36 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CEQP. Alps Advisors Inc. grew its holdings in shares of Crestwood Equity Partners by 37.8% during the 3rd quarter. Alps Advisors Inc. now owns 5,946,615 shares of the pipeline company’s stock worth $217,111,000 after purchasing an additional 1,632,252 shares in the last quarter. Invesco Ltd. lifted its position in shares of Crestwood Equity Partners by 8,014.0% during the 2nd quarter. Invesco Ltd. now owns 796,953 shares of the pipeline company’s stock worth $28,507,000 after buying an additional 787,131 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Crestwood Equity Partners during the 3rd quarter worth $15,766,000. Kayne Anderson Capital Advisors LP lifted its position in shares of Crestwood Equity Partners by 20.8% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,039,832 shares of the pipeline company’s stock worth $72,958,000 after buying an additional 351,200 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Crestwood Equity Partners by 59.8% during the 2nd quarter. Wells Fargo & Company MN now owns 709,783 shares of the pipeline company’s stock worth $25,389,000 after buying an additional 265,553 shares during the last quarter. 72.01% of the stock is currently owned by institutional investors.
About Crestwood Equity Partners
Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing (G&P); Storage and Transportation (S&T); and Marketing, Supply and Logistics (MS&L). The G&P segment offers gathering and transportation services for natural gas, crude oil, and produced water; and processing, treating, and compression services.
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