Catalyst Capital Advisors LLC lessened its stake in Crestwood Equity Partners LP (NYSE:CEQP) by 16.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,779 shares of the pipeline company’s stock after selling 38,076 shares during the period. Catalyst Capital Advisors LLC owned about 0.27% of Crestwood Equity Partners worth $6,931,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP grew its stake in shares of Crestwood Equity Partners by 20.8% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,039,832 shares of the pipeline company’s stock worth $72,958,000 after buying an additional 351,200 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Crestwood Equity Partners by 5.9% during the 1st quarter. CIBC Private Wealth Group LLC now owns 1,348,414 shares of the pipeline company’s stock valued at $47,451,000 after purchasing an additional 75,632 shares during the last quarter. Bank of Montreal Can boosted its stake in Crestwood Equity Partners by 132.0% during the 1st quarter. Bank of Montreal Can now owns 911,349 shares of the pipeline company’s stock valued at $32,071,000 after purchasing an additional 518,507 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Crestwood Equity Partners by 59.8% during the 2nd quarter. Wells Fargo & Company MN now owns 709,783 shares of the pipeline company’s stock valued at $25,389,000 after purchasing an additional 265,553 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Crestwood Equity Partners by 7.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 628,446 shares of the pipeline company’s stock valued at $22,115,000 after purchasing an additional 43,027 shares during the last quarter. 74.94% of the stock is owned by institutional investors.
Shares of Crestwood Equity Partners stock opened at $38.21 on Friday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 181.95, a PEG ratio of 4.55 and a beta of 2.00. Crestwood Equity Partners LP has a twelve month low of $26.55 and a twelve month high of $39.15. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $35.42 and a 200-day moving average price of $35.37.
Crestwood Equity Partners (NYSE:CEQP) last announced its earnings results on Tuesday, July 30th. The pipeline company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.05. Crestwood Equity Partners had a return on equity of 3.08% and a net margin of 7.95%. The business had revenue of $683.40 million during the quarter, compared to analyst estimates of $749.75 million. During the same quarter in the previous year, the business earned ($0.57) earnings per share. The company’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, equities analysts expect that Crestwood Equity Partners LP will post 1.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.40 annualized dividend and a dividend yield of 6.28%. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently 1,142.86%.
In other Crestwood Equity Partners news, SVP Joel Christian Lambert sold 30,000 shares of the business’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 transaction of $1,121,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 36.20% of the stock is owned by insiders.
CEQP has been the topic of several recent analyst reports. Royal Bank of Canada upgraded Crestwood Equity Partners from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $40.00 to $44.00 in a research note on Friday, August 23rd. Bank of America increased their target price on Crestwood Equity Partners from $40.00 to $42.00 and gave the company 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 raised their price target for the stock 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 assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.86.
Crestwood Equity Partners 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.
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