Crestwood Equity Partners LP (NYSE:CEQP) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 3,031,000 shares, a growth of 14.7% from the May 15th total of 2,643,200 shares. Currently, 6.2% of the company’s shares are sold short. Based on an average trading volume of 242,300 shares, the short-interest ratio is currently 12.5 days.
Several institutional investors and hedge funds have recently made changes to their positions in CEQP. Sound Income Strategies LLC purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $35,000. Icon Wealth Partners LLC purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $38,000. Bridgecreek Investment Management LLC purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $202,000. Moors & Cabot Inc. purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $220,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Crestwood Equity Partners during the first quarter valued at $317,000. 72.72% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CEQP traded up $0.03 on Friday, hitting $36.82. The stock had a trading volume of 87,001 shares, compared to its average volume of 230,073. The business has a fifty day moving average of $35.55. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 1.31. Crestwood Equity Partners has a 52-week low of $26.55 and a 52-week high of $40.55.
Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.21). The firm had revenue of $835.20 million during the quarter, compared to analysts’ expectations of $879.87 million. Crestwood Equity Partners had a return on equity of 2.79% and a net margin of 0.47%. Crestwood Equity Partners’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. As a group, sell-side analysts predict that Crestwood Equity Partners will post 0.55 earnings per share for the current fiscal year.
Several analysts have recently weighed in on CEQP shares. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. TheStreet downgraded shares of Trinity Industries from a “b” rating to a “c” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Co set a $162.00 price objective on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $39.57.
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.
Featured Story: Why do companies issue stock splits?
Receive News & Ratings for Crestwood Equity Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crestwood Equity Partners and related companies with MarketBeat.com's FREE daily email newsletter.