Crestwood Equity Partners (NYSE:CEQP) announced its quarterly earnings results on Tuesday. The pipeline company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.30), MarketWatch Earnings reports. Crestwood Equity Partners had a positive return on equity of 3.23% and a negative net margin of 1.50%. The firm had revenue of $654.50 million for the quarter, compared to the consensus estimate of $683.56 million. During the same period in the prior year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year.
Crestwood Equity Partners stock remained flat at $$21.51 during trading hours on Tuesday. 25,943 shares of the company’s stock traded hands, compared to its average volume of 658,389. The business’s 50 day moving average is $20.80 and its 200-day moving average is $16.77. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -16.38 and a beta of 3.75. Crestwood Equity Partners has a 52-week low of $2.65 and a 52-week high of $26.12.
The business also recently declared a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Friday, February 5th were paid a $0.625 dividend. The ex-dividend date of this dividend was Thursday, February 4th. This represents a $2.50 dividend on an annualized basis and a yield of 11.62%. Crestwood Equity Partners’s dividend payout ratio (DPR) is currently 25,000.00%.
Several equities analysts have recently weighed in on CEQP shares. Raymond James raised their price objective on Crestwood Equity Partners from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, January 12th. Truist raised Crestwood Equity Partners from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Tuesday, February 16th. Barclays boosted their target price on shares of Crestwood Equity Partners from $11.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, December 4th. Capital One Financial downgraded shares of Crestwood Equity Partners from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 19th. Finally, Royal Bank of Canada upped their target price on shares of Crestwood Equity Partners from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, December 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Crestwood Equity Partners has an average rating of “Hold” and an average target price of $18.44.
Crestwood Equity Partners Company Profile
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 for natural gas.
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