Inergy (NYSE:CEQP) has been given an average rating of “Hold” by the seven analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $32.25.
CEQP has been the subject of several research reports. Barclays set a $31.00 price objective on shares of Inergy and gave the company a “hold” rating in a report on Wednesday, March 7th. Stifel Nicolaus boosted their price objective on shares of Inergy from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, January 12th. UBS restated a “buy” rating and set a $34.00 target price (up from $30.00) on shares of Inergy in a research report on Friday, March 2nd. Wells Fargo upgraded shares of Inergy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $32.00 in a research report on Thursday, January 11th. Finally, Capital One Financial upgraded shares of Inergy from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 26th.
Shares of CEQP traded up $0.65 during mid-day trading on Wednesday, hitting $27.65. 78,156 shares of the company traded hands, compared to its average volume of 264,623. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 0.95. Inergy has a 1 year low of $20.00 and a 1 year high of $29.25. The stock has a market capitalization of $1,923.25, a price-to-earnings ratio of -23.19 and a beta of 2.35.
Inergy (NYSE:CEQP) last released its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Inergy had a negative net margin of 6.17% and a negative return on equity of 4.04%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $960.81 million. analysts expect that Inergy will post -0.11 earnings per share for the current year.
In other Inergy news, CFO Robert Thornbury Halpin III bought 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $27.50 per share, for a total transaction of $96,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 36.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA bought a new position in shares of Inergy in the third quarter worth approximately $106,000. Envestnet Asset Management Inc. bought a new position in shares of Inergy in the fourth quarter worth approximately $196,000. Green Square Capital LLC bought a new position in shares of Inergy in the third quarter worth approximately $201,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Inergy in the fourth quarter worth approximately $279,000. Finally, BlackRock Inc. boosted its position in shares of Inergy by 223.8% in the fourth quarter. BlackRock Inc. now owns 12,226 shares of the pipeline company’s stock worth $315,000 after purchasing an additional 8,450 shares during the period. Institutional investors and hedge funds own 64.03% of the company’s stock.
Crestwood Equity Partners LP owns and operates energy midstream infrastructure and engages in the natural gas liquids marketing, supply and logistics business. It operates through three segments: Gathering and Processing; Storage and Transportation; and Marketing, Supply and Logistics. The Gathering and Processing segment provides gathering and transportation services and processing, treating and compression services to producers in unconventional shale plays and tight-gas plays in North Dakota, West Virginia, Texas, New Mexico, Wyoming, Arkansas, and Louisiana.
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