Crestwood Equity Partners (NYSE:CEQP) Sees Strong Trading Volume

Shares of Crestwood Equity Partners LP (NYSE:CEQP) saw strong trading volume on Tuesday . 75,510 shares were traded during trading, a decline of 86% from the previous session’s volume of 521,559 shares.The stock last traded at $28.88 and had previously closed at $30.32.

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Crestwood Equity Partners from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 20th. Raymond James raised their price objective on Crestwood Equity Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, UBS Group upgraded Crestwood Equity Partners from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Wednesday, July 28th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Crestwood Equity Partners has a consensus rating of “Buy” and a consensus price target of $28.80.

The stock has a market capitalization of $1.84 billion, a PE ratio of -13.85 and a beta of 3.57. The firm has a 50-day moving average price of $27.68 and a 200-day moving average price of $28.78. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of 2.64.

Crestwood Equity Partners (NYSE:CEQP) last announced its quarterly earnings data on Monday, October 25th. The pipeline company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.20). Crestwood Equity Partners had a negative return on equity of 4.15% and a negative net margin of 2.71%. During the same period in the previous year, the business posted ($0.28) earnings per share. Sell-side analysts expect that Crestwood Equity Partners LP will post -1.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Friday, November 5th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 8.55%. The ex-dividend date is Thursday, November 4th. Crestwood Equity Partners’s dividend payout ratio (DPR) is currently -657.89%.

In related news, EVP Joel Christian Lambert sold 2,000 shares of Crestwood Equity Partners stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $29.00, for a total value of $58,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.33% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CEQP. Newbridge Financial Services Group Inc. bought a new position in Crestwood Equity Partners in the 2nd quarter worth about $34,000. Albion Financial Group UT bought a new position in Crestwood Equity Partners in the 2nd quarter worth about $36,000. Sandy Spring Bank bought a new position in Crestwood Equity Partners in the 2nd quarter worth about $39,000. BDO Wealth Advisors LLC boosted its stake in Crestwood Equity Partners by 107.3% in the 1st quarter. BDO Wealth Advisors LLC now owns 1,451 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 751 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Crestwood Equity Partners by 134.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,383 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 793 shares during the period. Institutional investors and hedge funds own 45.22% of the company’s stock.

About Crestwood Equity Partners (NYSE:CEQP)

Crestwood Equity Partners LP engages in investment and management of energy midstream assets. It operates through the following segments: Gathering and Processing; Storage and Transportation; and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering and transportation services; processing, treating, and compression services; and disposal services to producers in unconventional shale plays and tight-gas plays.

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