Crestwood Equity Partners LP (NYSE:CEQP) had its price target raised by stock analysts at Stifel Nicolaus from $17.00 to $20.00 in a report released on Monday. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential downside of 6.32% from the stock’s previous close.
Separately, Zacks Investment Research downgraded Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.10.
Crestwood Equity Partners (NYSE:CEQP) traded down 1.84% on Monday, hitting $21.35. The stock had a trading volume of 104,025 shares. The company has a 50-day moving average of $20.71 and a 200 day moving average of $20.70. The company’s market cap is $1.47 billion. Crestwood Equity Partners has a 12 month low of $7.90 and a 12 month high of $23.59.
Crestwood Equity Partners (NYSE:CEQP) last released its earnings results on Friday, November 4th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.06. The company earned $587.60 million during the quarter, compared to analysts’ expectations of $591.83 million. During the same period last year, the business earned ($1.18) earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts predict that Crestwood Equity Partners will post ($2.26) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, November 7th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 11.24%. The ex-dividend date of this dividend was Thursday, November 3rd.
Hedge funds have recently bought and sold shares of the stock. Credit Suisse AG boosted its stake in Crestwood Equity Partners by 27.9% in the third quarter. Credit Suisse AG now owns 207,267 shares of the company’s stock worth $4,405,000 after buying an additional 45,215 shares during the period. Clinton Group Inc. boosted its stake in Crestwood Equity Partners by 47.9% in the third quarter. Clinton Group Inc. now owns 23,158 shares of the company’s stock worth $492,000 after buying an additional 7,495 shares during the period. Virtus ETF Advisers LLC boosted its stake in Crestwood Equity Partners by 29.8% in the third quarter. Virtus ETF Advisers LLC now owns 150,870 shares of the company’s stock worth $3,206,000 after buying an additional 34,633 shares during the period. Morgan Stanley boosted its stake in Crestwood Equity Partners by 24.7% in the third quarter. Morgan Stanley now owns 1,006,775 shares of the company’s stock worth $21,394,000 after buying an additional 199,321 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its stake in Crestwood Equity Partners by 5.4% in the third quarter. Clear Harbor Asset Management LLC now owns 174,470 shares of the company’s stock worth $3,707,000 after buying an additional 9,000 shares during the period.
About Crestwood Equity Partners