Crestwood Equity Partners LP (NYSE:CEQP) has earned a consensus rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $28.30.
Several research analysts recently issued reports on the stock. UBS Group raised shares of Crestwood Equity Partners from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a report on Wednesday, July 28th. Royal Bank of Canada raised their price target on shares of Crestwood Equity Partners from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, June 21st. They noted that the move was a valuation call.
In other news, EVP Joel Christian Lambert sold 2,000 shares of Crestwood Equity Partners stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $29.00, for a total value of $58,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.33% of the stock is owned by company insiders.
Shares of Crestwood Equity Partners stock traded down $0.74 during trading on Friday, hitting $27.92. 948,783 shares of the company’s stock were exchanged, compared to its average volume of 537,099. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.61 and a current ratio of 0.85. The business has a 50-day simple moving average of $27.53 and a 200-day simple moving average of $28.36. Crestwood Equity Partners has a 52-week low of $11.43 and a 52-week high of $33.94. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -13.23 and a beta of 3.57.
Crestwood Equity Partners (NYSE:CEQP) last issued its earnings results on Monday, July 26th. The pipeline company reported ($1.00) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($1.01). Crestwood Equity Partners had a negative return on equity of 4.15% and a negative net margin of 2.71%. The business had revenue of $929.60 million for the quarter, compared to analysts’ expectations of $1.05 billion. On average, equities analysts anticipate that Crestwood Equity Partners will post -1.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, August 6th were given a $0.625 dividend. The ex-dividend date was Thursday, August 5th. This represents a $2.50 annualized dividend and a dividend yield of 8.95%. Crestwood Equity Partners’s dividend payout ratio (DPR) is -657.89%.
About Crestwood Equity Partners
Crestwood Equity Partners LP engages in investment and management of energy midstream assets. It operates through the following segments: Gathering and Processing; Storage and Transportation; and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering and transportation services; processing, treating, and compression services; and disposal services to producers in unconventional shale plays and tight-gas plays.
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