Crestwood Equity Partners (NYSE:CEQP) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday. The firm currently has a $30.00 price target on the pipeline company’s stock, up from their prior price target of $25.00. Barclays’ price target would indicate a potential upside of 9.09% from the stock’s previous close.
CEQP has been the subject of several other research reports. UBS Group upgraded shares of Crestwood Equity Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $27.00 in a report on Monday, December 4th. BidaskClub cut shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Stifel Nicolaus boosted their price target on shares of Crestwood Equity Partners from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Wells Fargo & Co upgraded shares of Crestwood Equity Partners from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $32.00 in a report on Thursday, January 11th. Finally, ValuEngine upgraded shares of Crestwood Equity Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.75.
Shares of Crestwood Equity Partners (NYSE:CEQP) traded down $0.35 during mid-day trading on Wednesday, hitting $27.50. 321,300 shares of the company were exchanged, compared to its average volume of 357,825. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $1,957.61, a PE ratio of -9.75 and a beta of 2.72. Crestwood Equity Partners has a 52-week low of $20.00 and a 52-week high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings results on Tuesday, October 31st. The pipeline company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.65). Crestwood Equity Partners had a negative return on equity of 3.34% and a negative net margin of 5.36%. The firm had revenue of $955.60 million for the quarter, compared to analyst estimates of $830.77 million. During the same quarter last year, the firm earned ($0.14) EPS. The company’s revenue was up 62.6% on a year-over-year basis. equities analysts forecast that Crestwood Equity Partners will post -1.61 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA acquired a new position in shares of Crestwood Equity Partners in the 3rd quarter valued at $106,000. Green Square Capital LLC acquired a new position in shares of Crestwood Equity Partners in the 3rd quarter valued at $201,000. Alliancebernstein L.P. boosted its holdings in shares of Crestwood Equity Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 12,436 shares of the pipeline company’s stock valued at $292,000 after buying an additional 696 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Crestwood Equity Partners in the 3rd quarter valued at $359,000. Finally, CNH Partners LLC boosted its holdings in shares of Crestwood Equity Partners by 23.4% in the 2nd quarter. CNH Partners LLC now owns 27,936 shares of the pipeline company’s stock valued at $656,000 after buying an additional 5,300 shares in the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.
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Crestwood Equity Partners Company Profile
Crestwood Equity Partners LP is a holding company and a master limited partnership (MLP). The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. The Company’s segments include gathering and processing (G&P), which includes its natural gas, crude oil and produced water G&P operations; storage and transportation, which includes its natural gas and crude oil storage and transportation operations, and marketing, supply and logistics, which includes its natural gas liquid (NGL) supply and logistics business, crude oil storage and rail loading facilities and fleet, and salt production business.
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