Stifel Financial Corp Increases Position in Crestwood Equity Partners LP (NYSE:CEQP)

Stifel Financial Corp lifted its holdings in Crestwood Equity Partners LP (NYSE:CEQP) by 2.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 127,738 shares of the pipeline company’s stock after purchasing an additional 3,357 shares during the period. Stifel Financial Corp’s holdings in Crestwood Equity Partners were worth $4,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CEQP. Cadence Capital Management LLC boosted its holdings in Crestwood Equity Partners by 0.4% during the 2nd quarter. Cadence Capital Management LLC now owns 182,476 shares of the pipeline company’s stock valued at $6,527,000 after acquiring an additional 741 shares during the period. Arrow Investment Advisors LLC grew its holdings in shares of Crestwood Equity Partners by 6.3% in the third quarter. Arrow Investment Advisors LLC now owns 12,460 shares of the pipeline company’s stock worth $455,000 after purchasing an additional 741 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Crestwood Equity Partners by 3.3% in the second quarter. Van ECK Associates Corp now owns 23,731 shares of the pipeline company’s stock worth $849,000 after purchasing an additional 747 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Crestwood Equity Partners by 1.0% in the first quarter. First Trust Advisors LP now owns 129,019 shares of the pipeline company’s stock worth $4,540,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Crestwood Equity Partners by 25.1% in the second quarter. Envestnet Asset Management Inc. now owns 15,336 shares of the pipeline company’s stock worth $549,000 after purchasing an additional 3,075 shares during the last quarter. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Shares of CEQP stock opened at $30.53 on Friday. Crestwood Equity Partners LP has a twelve month low of $26.55 and a twelve month high of $40.00. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 1.73. The stock has a fifty day simple moving average of $33.12 and a two-hundred day simple moving average of $35.22. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 145.38, a P/E/G ratio of 4.66 and a beta of 1.94.

Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings results on Tuesday, October 29th. The pipeline company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $823.60 million for the quarter, compared to analysts’ expectations of $689.30 million. Crestwood Equity Partners had a net margin of 9.76% and a return on equity of 6.35%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) EPS. Research analysts predict that Crestwood Equity Partners LP will post 1.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 7.86%. The ex-dividend date was Wednesday, November 6th. Crestwood Equity Partners’s payout ratio is 1,142.86%.

Several research analysts recently commented on CEQP shares. ValuEngine upgraded shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank of Canada raised shares of Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $44.00 in a research report on Friday, August 23rd. TheStreet downgraded shares of Crestwood Equity Partners from a “b” rating to a “c+” rating in a research note on Monday, November 18th. Barclays set a $40.00 target price on shares of Crestwood Equity Partners and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Raymond James raised shares of Crestwood Equity Partners from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Crestwood Equity Partners currently has a consensus rating of “Buy” and an average price target of $42.50.

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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Institutional Ownership by Quarter for Crestwood Equity Partners (NYSE:CEQP)

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