Crestwood Equity Partners LP (NYSE:CEQP) Given Average Recommendation of “Reduce” by Brokerages

Shares of Crestwood Equity Partners LP (NYSE:CEQP) have been assigned a consensus rating of “Reduce” from the eight brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $28.13.

Several research analysts recently commented on the company. Scotiabank cut Crestwood Equity Partners from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $29.00 to $27.00 in a research note on Thursday, August 17th. Truist Financial cut Crestwood Equity Partners from a “buy” rating to a “hold” rating and lowered their target price for the stock from $31.00 to $28.00 in a research note on Friday, August 18th. StockNews.com assumed coverage on Crestwood Equity Partners in a research note on Tuesday, November 14th. They set a “hold” rating for the company. Raymond James cut Crestwood Equity Partners from an “outperform” rating to a “market perform” rating and set a $30.00 target price for the company. in a research note on Friday, August 25th. Finally, Wells Fargo & Company cut Crestwood Equity Partners from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $31.00 to $29.00 in a research report on Thursday, August 17th.

Crestwood Equity Partners Stock Performance

CEQP opened at $28.26 on Tuesday. Crestwood Equity Partners has a 12 month low of $22.11 and a 12 month high of $30.40. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 30.39 and a beta of 2.43. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.37 and a quick ratio of 1.10. The business has a fifty day moving average price of $28.53 and a 200 day moving average price of $27.44.

Crestwood Equity Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 23rd were given a $0.655 dividend. The ex-dividend date was Friday, October 20th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 9.27%. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently 281.72%.

Institutional Trading of Crestwood Equity Partners

A number of large investors have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in shares of Crestwood Equity Partners by 101,693.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 543,825,315 shares of the pipeline company’s stock valued at $14,242,785,000 after purchasing an additional 543,291,069 shares during the period. Alps Advisors Inc. raised its stake in Crestwood Equity Partners by 12.9% during the 3rd quarter. Alps Advisors Inc. now owns 15,137,024 shares of the pipeline company’s stock valued at $442,758,000 after acquiring an additional 1,727,509 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Crestwood Equity Partners by 33,944.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,516,383 shares of the pipeline company’s stock valued at $119,594,000 after acquiring an additional 4,503,117 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Crestwood Equity Partners by 47.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,351,762 shares of the pipeline company’s stock valued at $127,289,000 after acquiring an additional 1,404,213 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Crestwood Equity Partners by 6.4% during the 3rd quarter. Clearbridge Investments LLC now owns 2,683,918 shares of the pipeline company’s stock valued at $78,505,000 after acquiring an additional 162,620 shares during the last quarter. 55.64% of the stock is owned by institutional investors and hedge funds.

Crestwood Equity Partners Company Profile

Crestwood Equity Partners LP develops, acquires, owns, controls, and operates assets and operations in the energy midstream sector in the United States. The company operates through three segments: Gathering and Processing North; Gathering and Processing South; and Storage and Logistics. The Gathering and Processing North segment offers natural gas, crude oil, and produced water gathering, compression, treating, processing, and disposal services to producers in the Williston Basin and Powder River Basin.