Crestwood Equity Partners LP (NYSE:CEQP) Declares $0.60 Quarterly Dividend

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Crestwood Equity Partners LP (NYSE:CEQP) announced a quarterly dividend on Thursday, October 17th, Zacks reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.60 per share by the pipeline company on Thursday, November 14th. This represents a $2.40 annualized dividend and a yield of 6.61%. The ex-dividend date is Wednesday, November 6th.

NYSE:CEQP opened at $36.31 on Monday. Crestwood Equity Partners has a one year low of $26.55 and a one year high of $40.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.79 and a current ratio of 0.90. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 172.90, a PEG ratio of 5.31 and a beta of 2.00. The firm’s fifty day moving average is $36.20 and its two-hundred day moving average is $35.90.

Crestwood Equity Partners (NYSE:CEQP) last posted 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). Crestwood Equity Partners had a net margin of 9.76% and a return on equity of 6.15%. The business had revenue of $823.60 million during the quarter, compared to analysts’ expectations of $689.30 million. During the same period in the previous year, the company posted ($0.34) earnings per share. Crestwood Equity Partners’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Crestwood Equity Partners will post 1.36 earnings per share for the current fiscal year.

Several research firms have recently issued reports on CEQP. Stifel Nicolaus raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating and increased their target price for the stock from $37.00 to $46.00 in a research note on Wednesday, July 31st. Barclays set a $40.00 target price on shares of Crestwood Equity Partners and gave the stock a “hold” rating in a research note on Tuesday, October 15th. UBS Group increased their target price on shares of Crestwood Equity Partners from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised shares of Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $44.00 in a research note on Friday, August 23rd. Finally, Raymond James raised shares of 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.71.

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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Dividend History for Crestwood Equity Partners (NYSE:CEQP)

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