Crestwood Equity Partners LP (CEQP) Earns “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of Crestwood Equity Partners LP (NYSE:CEQP) in a research report report published on Thursday, May 4th. Stifel Nicolaus currently has a $27.00 price objective on the pipeline company’s stock, up from their previous price objective of $26.00.

Several other brokerages also recently weighed in on CEQP. Wood & Company raised Crestwood Equity Partners from a market perform rating to an outperform rating and set a $27.00 target price on the stock in a research note on Thursday, January 12th. Raymond James Financial, Inc. raised Crestwood Equity Partners from a market perform rating to an outperform rating and set a $27.00 target price on the stock in a research note on Thursday, January 12th. Finally, UBS Group AG reaffirmed a neutral rating and set a $25.00 target price (up previously from $20.00) on shares of Crestwood Equity Partners in a research note on Wednesday, March 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $26.33.

Crestwood Equity Partners (NYSE:CEQP) last announced its earnings results on Tuesday, May 2nd. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.05. The business had revenue of $828.10 million for the quarter, compared to the consensus estimate of $745.38 million. Crestwood Equity Partners had a negative net margin of 66.64% and a negative return on equity of 5.72%. The firm’s revenue was up 54.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.47) EPS.

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The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 8th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 9.82%. The ex-dividend date of this dividend was Thursday, May 4th. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently -10.38%.

Several institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in shares of Crestwood Equity Partners during the first quarter valued at about $284,000. Paragon Capital Management Ltd purchased a new position in shares of Crestwood Equity Partners during the first quarter valued at about $289,000. Alliancebernstein L.P. boosted its position in shares of Crestwood Equity Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock valued at $308,000 after buying an additional 3,390 shares during the period. Private Advisory Group LLC purchased a new position in shares of Crestwood Equity Partners during the fourth quarter valued at about $321,000. Finally, Waldron LP purchased a new position in shares of Crestwood Equity Partners during the first quarter valued at about $380,000. Institutional investors own 59.00% of the company’s stock.

Crestwood Equity Partners Company Profile

Crestwood Equity Partners LP is a holding company and a master limited partnership (MLP). The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. The Company’s segments include gathering and processing (G&P), which includes its natural gas, crude oil and produced water G&P operations; storage and transportation, which includes its natural gas and crude oil storage and transportation operations, and marketing, supply and logistics, which includes its natural gas liquid (NGL) supply and logistics business, crude oil storage and rail loading facilities and fleet, and salt production business.

12 Month Chart for NYSE:CEQP

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