Crestwood Equity Partners LP (NYSE:CEQP) – Equities research analysts at US Capital Advisors raised their Q3 2019 earnings per share estimates for Crestwood Equity Partners in a research report issued on Thursday, August 22nd, Zacks Investment Research reports. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will earn ($0.04) per share for the quarter, up from their prior forecast of ($0.08). US Capital Advisors also issued estimates for Crestwood Equity Partners’ Q4 2019 earnings at $0.23 EPS, Q1 2020 earnings at $0.18 EPS, Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.42 EPS, FY2020 earnings at $1.08 EPS and FY2021 earnings at $1.65 EPS.
Crestwood Equity Partners (NYSE:CEQP) last released its earnings results on Tuesday, July 30th. The pipeline company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.05. The firm had revenue of $683.40 million for the quarter, compared to analysts’ expectations of $749.75 million. Crestwood Equity Partners had a return on equity of 3.08% and a net margin of 7.95%. The business’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.57) earnings per share.
Several other brokerages also recently commented on CEQP. Royal Bank of Canada raised shares of Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $44.00 in a research note on Friday, August 23rd. Bank of America boosted their target price on shares of Crestwood Equity Partners from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus upgraded Crestwood Equity Partners from a “hold” rating to a “buy” rating and increased their price target for the company from $37.00 to $46.00 in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Crestwood Equity Partners has an average rating of “Buy” and an average price target of $41.86.
Shares of CEQP traded up $0.44 during mid-day trading on Monday, reaching $36.29. The company had a trading volume of 187,700 shares, compared to its average volume of 268,640. The company’s 50 day simple moving average is $35.41 and its 200 day simple moving average is $35.33. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 172.81, a P/E/G ratio of 4.44 and a beta of 2.00. Crestwood Equity Partners has a 1-year low of $26.55 and a 1-year high of $39.20. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.79 and a current ratio of 0.90.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend was Tuesday, August 6th. Crestwood Equity Partners’s dividend payout ratio (DPR) is currently 1,142.86%.
In other news, SVP Joel Christian Lambert sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $37.37, for a total value of $1,121,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 36.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Squar Milner Financial Services LLC bought a new position in Crestwood Equity Partners during the 2nd quarter worth approximately $33,000. Icon Wealth Partners LLC bought a new stake in shares of Crestwood Equity Partners during the 1st quarter valued at about $38,000. Mascoma Wealth Management LLC bought a new stake in shares of Crestwood Equity Partners during the 2nd quarter valued at about $55,000. Bridgecreek Investment Management LLC bought a new stake in shares of Crestwood Equity Partners during the 1st quarter valued at about $202,000. Finally, Toroso Investments LLC acquired a new stake in Crestwood Equity Partners during the second quarter worth approximately $214,000. 74.94% of the stock is currently owned by institutional investors.
Crestwood Equity Partners Company Profile
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.