Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $28.30.
CEQP has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on shares of Crestwood Equity Partners from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, June 21st. They noted that the move was a valuation call. UBS Group upgraded shares of Crestwood Equity Partners from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Wednesday, July 28th.
Crestwood Equity Partners stock traded down $0.74 during midday trading on Friday, reaching $27.92. The stock had a trading volume of 948,783 shares, compared to its average volume of 537,099. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 2.64. Crestwood Equity Partners has a 52-week low of $11.43 and a 52-week high of $33.94. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -13.23 and a beta of 3.57. The company has a fifty day moving average of $27.53 and a 200 day moving average of $28.36.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, August 6th were given a dividend of $0.625 per share. The ex-dividend date was Thursday, August 5th. This represents a $2.50 dividend on an annualized basis and a yield of 8.95%. Crestwood Equity Partners’s payout ratio is presently -657.89%.
In related news, EVP Joel Christian Lambert sold 2,000 shares of the business’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.33% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new position in Crestwood Equity Partners during the second quarter worth about $34,000. Albion Financial Group UT purchased a new stake in shares of Crestwood Equity Partners in the 2nd quarter valued at approximately $36,000. Sandy Spring Bank purchased a new stake in shares of Crestwood Equity Partners in the 2nd quarter valued at approximately $39,000. Parkside Financial Bank & Trust raised its stake in shares of Crestwood Equity Partners by 134.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,383 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 793 shares during the period. Finally, BDO Wealth Advisors LLC raised its stake in shares of Crestwood Equity Partners by 107.3% in the 1st quarter. BDO Wealth Advisors LLC now owns 1,451 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 751 shares during the period. 45.22% of the stock is currently owned by institutional investors.
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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