Stifel Nicolaus restated their hold rating on shares of Crestwood Equity Partners (NYSE:CEQP) in a research report sent to investors on Monday, The Fly reports. They currently have a $38.00 price objective on the pipeline company’s stock.
A number of other research firms have also recently issued reports on CEQP. Barclays upped their price objective on Crestwood Equity Partners from $31.00 to $34.00 and gave the stock a hold rating in a report on Tuesday, June 12th. Goldman Sachs Group cut Crestwood Equity Partners from a buy rating to a neutral rating and cut their price objective for the stock from $34.00 to $32.00 in a report on Tuesday, June 26th. SunTrust Banks set a $40.00 price objective on Crestwood Equity Partners and gave the stock a buy rating in a report on Monday, July 23rd. Finally, Bank of America started coverage on Crestwood Equity Partners in a report on Tuesday, July 10th. They issued a buy rating and a $34.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $36.14.
Crestwood Equity Partners stock opened at $36.10 on Monday. Crestwood Equity Partners has a 52 week low of $22.15 and a 52 week high of $40.55. The company has a current ratio of 1.13, a quick ratio of 0.96 and a debt-to-equity ratio of 1.05.
Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Crestwood Equity Partners in the 2nd quarter worth approximately $222,000. First Republic Investment Management Inc. bought a new position in shares of Crestwood Equity Partners in the 2nd quarter worth approximately $230,000. Putnam Investments LLC bought a new position in shares of Crestwood Equity Partners in the 2nd quarter worth approximately $518,000. BlackRock Inc. raised its position in shares of Crestwood Equity Partners by 824,250.0% in the 2nd quarter. BlackRock Inc. now owns 16,487 shares of the pipeline company’s stock worth $523,000 after acquiring an additional 16,485 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. bought a new position in shares of Crestwood Equity Partners in the 2nd quarter worth approximately $524,000. 69.00% of the stock is owned by hedge funds and other institutional investors.
About Crestwood Equity Partners
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.
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