Analysts Set Crestwood Equity Partners LP (NYSE:CEQP) Price Target at $41.80

Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been given a consensus rating of “Buy” by the nine analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $40.83.

A number of equities research analysts recently issued reports on the company. Raymond James raised Crestwood Equity Partners from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, October 23rd. SunTrust Banks reduced their price target on Crestwood Equity Partners from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday. ValuEngine raised Crestwood Equity Partners from a “sell” rating to a “hold” rating in a research note on Saturday, December 7th. TheStreet lowered Crestwood Equity Partners from a “b” rating to a “c+” rating in a research note on Monday, November 18th. Finally, Barclays raised Crestwood Equity Partners from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a research note on Tuesday, January 14th.

CEQP stock traded down $0.75 on Friday, reaching $26.74. The company had a trading volume of 209,018 shares, compared to its average volume of 403,992. Crestwood Equity Partners has a 1 year low of $26.05 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.88 and a current ratio of 0.99. The company’s fifty day moving average is $29.95 and its 200 day moving average is $33.13. The company has a market cap of $1.95 billion, a P/E ratio of 9.19, a PEG ratio of 4.62 and a beta of 1.87.

Crestwood Equity Partners (NYSE:CEQP) last posted its earnings results on Tuesday, February 18th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Crestwood Equity Partners had a net margin of 8.96% and a return on equity of 5.03%. The company had revenue of $839.70 million during the quarter, compared to analysts’ expectations of $799.79 million. During the same period in the previous year, the company posted $0.57 EPS. Crestwood Equity Partners’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Crestwood Equity Partners will post 1.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 9.35%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Crestwood Equity Partners’s previous quarterly dividend of $0.60. Crestwood Equity Partners’s dividend payout ratio is currently 25,000.00%.

Institutional investors have recently modified their holdings of the business. Clear Harbor Asset Management LLC bought a new stake in shares of Crestwood Equity Partners during the fourth quarter worth approximately $31,000. Oppenheimer Asset Management Inc. bought a new position in Crestwood Equity Partners during the fourth quarter worth about $34,000. Pacer Advisors Inc. bought a new position in Crestwood Equity Partners in the 4th quarter valued at about $45,000. Tower Research Capital LLC TRC purchased a new position in shares of Crestwood Equity Partners in the 4th quarter worth about $81,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Crestwood Equity Partners by 37.1% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,010 shares of the pipeline company’s stock valued at $123,000 after purchasing an additional 1,086 shares during the last quarter. 68.86% of the stock is currently owned by institutional investors.

Crestwood Equity Partners Company Profile

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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Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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