Crestwood Equity Partners LP (NYSE:CEQP) received a $27.00 price objective from equities research analysts at Stifel Nicolaus in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 8.00% from the company’s previous close.
CEQP has been the subject of several other reports. BidaskClub lowered Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. ValuEngine lowered Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Crestwood Equity Partners presently has a consensus rating of “Hold” and a consensus price target of $27.20.
Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings data on Tuesday, October 31st. The pipeline company reported ($0.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.65). Crestwood Equity Partners had a negative return on equity of 3.28% and a negative net margin of 5.36%. The firm had revenue of $955.60 million for the quarter, compared to analysts’ expectations of $830.77 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Crestwood Equity Partners’s revenue was up 62.6% on a year-over-year basis.
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In other Crestwood Equity Partners news, SVP Joel Christian Lambert sold 6,927 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $25.47, for a total transaction of $176,430.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 36.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CEQP. Alliancebernstein L.P. raised its holdings in Crestwood Equity Partners by 40.6% during the first quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock valued at $308,000 after buying an additional 3,390 shares in the last quarter. California Public Employees Retirement System raised its holdings in Crestwood Equity Partners by 8.8% during the first quarter. California Public Employees Retirement System now owns 111,152 shares of the pipeline company’s stock valued at $2,918,000 after buying an additional 9,000 shares in the last quarter. Bank of America Corp DE raised its holdings in Crestwood Equity Partners by 26.4% during the first quarter. Bank of America Corp DE now owns 398,776 shares of the pipeline company’s stock valued at $10,468,000 after buying an additional 83,349 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Crestwood Equity Partners by 5.0% during the first quarter. Goldman Sachs Group Inc. now owns 589,262 shares of the pipeline company’s stock valued at $15,468,000 after buying an additional 28,238 shares in the last quarter. Finally, Center Coast Capital Advisors LP increased its stake in shares of Crestwood Equity Partners by 9.7% in the second quarter. Center Coast Capital Advisors LP now owns 2,658,700 shares of the pipeline company’s stock worth $62,479,000 after purchasing an additional 236,059 shares during the period. Institutional investors own 65.65% of the company’s stock.
About Crestwood Equity Partners
Crestwood Equity Partners LP is a holding company and a master limited partnership (MLP). The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. The Company’s segments include gathering and processing (G&P), which includes its natural gas, crude oil and produced water G&P operations; storage and transportation, which includes its natural gas and crude oil storage and transportation operations, and marketing, supply and logistics, which includes its natural gas liquid (NGL) supply and logistics business, crude oil storage and rail loading facilities and fleet, and salt production business.
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