Crestwood Equity Partners (NYSE:CEQP) Announces Earnings Results

Crestwood Equity Partners (NYSE:CEQP) issued its earnings results on Tuesday. The pipeline company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.30), MarketWatch Earnings reports. Crestwood Equity Partners had a negative net margin of 1.50% and a positive return on equity of 3.23%. The firm had revenue of $654.50 million during the quarter, compared to analysts’ expectations of $683.56 million. During the same quarter last year, the firm earned $0.28 EPS. The business’s revenue for the quarter was down 22.1% compared to the same quarter last year.

NYSE:CEQP traded up $0.25 during mid-day trading on Tuesday, hitting $21.76. 25,313 shares of the company’s stock traded hands, compared to its average volume of 658,389. The firm has a 50 day moving average of $20.80 and a two-hundred day moving average of $16.77. Crestwood Equity Partners has a 12 month low of $2.65 and a 12 month high of $26.12. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -16.38 and a beta of 3.75. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 1.69.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Friday, February 5th were paid a dividend of $0.625 per share. The ex-dividend date was Thursday, February 4th. This represents a $2.50 annualized dividend and a yield of 11.49%. Crestwood Equity Partners’s payout ratio is 25,000.00%.

A number of research analysts have commented on the company. Capital One Financial downgraded Crestwood Equity Partners from an “overweight” rating to an “equal weight” rating in a research note on Thursday, November 19th. Truist upgraded Crestwood Equity Partners from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, February 16th. Barclays upped their price target on Crestwood Equity Partners from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, December 4th. JPMorgan Chase & Co. upgraded Crestwood Equity Partners from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $15.00 to $22.00 in a research note on Monday, February 8th. Finally, Stifel Nicolaus upped their price target on Crestwood Equity Partners from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.44.

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 for natural gas.

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