Crestwood Equity Partners (CEQP) Given “Hold” Rating at Stifel Nicolaus

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.

Crestwood Equity Partners (NYSE:CEQP) last posted its quarterly earnings data on Tuesday, July 31st. The pipeline company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). Crestwood Equity Partners had a negative return on equity of 1.09% and a negative net margin of 4.14%. The firm had revenue of $840.50 million during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted ($0.28) earnings per share. Crestwood Equity Partners’s revenue for the quarter was down 1.2% compared to the same quarter last year. research analysts forecast that Crestwood Equity Partners will post 0.09 EPS for the current year.

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.

Further Reading: Market Capitalization

The Fly

Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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