Wells Fargo & Co Reiterates Market Perform Rating for Crestwood Equity Partners (CEQP)

Crestwood Equity Partners (NYSE:CEQP)‘s stock had its “market perform” rating reaffirmed by stock analysts at Wells Fargo & Co in a research note issued to investors on Wednesday, Marketbeat reports. They presently have a $38.00 price target on the pipeline company’s stock. Wells Fargo & Co’s price target indicates a potential upside of 14.84% from the company’s current price. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Crestwood Equity Partners from $35.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 29th. Bank of America boosted their target price on shares of Crestwood Equity Partners from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Stifel Nicolaus boosted their target price on shares of Crestwood Equity Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. ValuEngine raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, SunTrust Banks set a $40.00 price target on shares of Crestwood Equity Partners and gave the stock a “buy” rating in a research report on Monday, July 23rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Crestwood Equity Partners currently has an average rating of “Buy” and an average price target of $37.50.

CEQP stock opened at $33.09 on Wednesday. Crestwood Equity Partners has a one year low of $22.15 and a one year high of $40.55. The company has a current ratio of 1.13, a quick ratio of 0.96 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $2.47 billion, a PE ratio of -28.53, a P/E/G ratio of 86.63 and a beta of 2.66.

Crestwood Equity Partners (NYSE:CEQP) last released its earnings results on Tuesday, October 30th. The pipeline company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.32). Crestwood Equity Partners had a positive return on equity of 0.58% and a negative net margin of 3.53%. The company had revenue of $930.20 million during the quarter, compared to analysts’ expectations of $845.40 million. During the same period last year, the firm posted ($0.72) EPS. Crestwood Equity Partners’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Crestwood Equity Partners will post 0.1 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its position in Crestwood Equity Partners by 12.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,266 shares of the pipeline company’s stock valued at $612,000 after acquiring an additional 2,155 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Crestwood Equity Partners by 5.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 123,800 shares of the pipeline company’s stock valued at $4,550,000 after acquiring an additional 6,800 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Crestwood Equity Partners during the second quarter valued at $222,000. First Republic Investment Management Inc. bought a new position in Crestwood Equity Partners during the second quarter valued at $230,000. Finally, Advisors Asset Management Inc. increased its position in Crestwood Equity Partners by 73.7% during the second quarter. Advisors Asset Management Inc. now owns 22,757 shares of the pipeline company’s stock valued at $723,000 after acquiring an additional 9,652 shares during the last quarter. Institutional investors own 68.75% of the company’s stock.

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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Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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