Crestwood Equity Partners (NYSE:CEQP) Issues Quarterly Earnings Results

Crestwood Equity Partners (NYSE:CEQP – Get Rating) announced its quarterly earnings data on Tuesday. The pipeline company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.41), MarketWatch Earnings reports. Crestwood Equity Partners had a positive return on equity of 0.09% and a negative net margin of 1.72%. During the same quarter in the previous year, the business earned ($0.86) EPS.

Shares of NYSE:CEQP traded up $0.62 during midday trading on Thursday, reaching $29.63. The company had a trading volume of 26,679 shares, compared to its average volume of 761,976. The stock has a market capitalization of $2.90 billion, a P/E ratio of -13.72 and a beta of 3.15. The stock’s fifty day moving average price is $30.39 and its 200-day moving average price is $28.85. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.01 and a quick ratio of 0.75. Crestwood Equity Partners has a one year low of $23.57 and a one year high of $33.94.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, May 6th will be given a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 8.84%. This is a positive change from Crestwood Equity Partners’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Thursday, May 5th. Crestwood Equity Partners’s dividend payout ratio is presently -119.05%.

A number of equities analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Crestwood Equity Partners in a report on Thursday, March 31st. They issued a “hold” rating on the stock. US Capital Advisors raised Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company upped their price target on Crestwood Equity Partners from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 3rd. Raymond James lifted their price objective on Crestwood Equity Partners from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Finally, Royal Bank of Canada raised their price target on shares of Crestwood Equity Partners from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, April 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.40.

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC boosted its holdings in Crestwood Equity Partners by 12.3% in the fourth quarter. LPL Financial LLC now owns 11,702 shares of the pipeline company’s stock worth $323,000 after purchasing an additional 1,278 shares during the period. Royal Bank of Canada raised its stake in Crestwood Equity Partners by 4.8% during the third quarter. Royal Bank of Canada now owns 37,932 shares of the pipeline company’s stock worth $1,077,000 after acquiring an additional 1,726 shares during the period. BNP Paribas Arbitrage SA raised its stake in Crestwood Equity Partners by 17.8% during the third quarter. BNP Paribas Arbitrage SA now owns 16,694 shares of the pipeline company’s stock worth $474,000 after acquiring an additional 2,517 shares during the period. Vident Investment Advisory LLC lifted its holdings in Crestwood Equity Partners by 5.8% in the fourth quarter. Vident Investment Advisory LLC now owns 46,174 shares of the pipeline company’s stock worth $1,274,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Crestwood Equity Partners by 17.3% in the fourth quarter. Advisors Asset Management Inc. now owns 90,305 shares of the pipeline company’s stock valued at $2,492,000 after acquiring an additional 13,327 shares during the period. Institutional investors and hedge funds own 47.41% of the company’s stock.

Crestwood Equity Partners Company Profile (Get Rating)

Crestwood Equity Partners LP develops, acquires, owns, controls, and operates assets and operations in the energy midstream sector in the United States. It operates through three segments: Gathering and Processing North; Gathering and Processing South; and Storage and Logistics. The Gathering and Processing North segment offers natural gas, crude oil, and produced water gathering, compression, treating, processing, and disposal services to producers in the Williston Basin and Powder River Basin.

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