Crestwood Equity Partners (NYSE:CEQP) Downgraded by UBS Group

UBS Group cut shares of Crestwood Equity Partners (NYSE:CEQP) to a hold rating in a research note issued to investors on Tuesday morning, Stock Target Advisor reports. The brokerage currently has $14.00 price objective on the pipeline company’s stock.

Several other research analysts also recently weighed in on the company. ValuEngine raised Crestwood Equity Partners from a sell rating to a hold rating in a research note on Friday, May 1st. Raymond James upped their target price on Crestwood Equity Partners from $11.00 to $13.00 and gave the stock an outperform rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on Crestwood Equity Partners from $9.00 to $10.00 and gave the stock a neutral rating in a research note on Thursday, May 14th. Barclays downgraded Crestwood Equity Partners from an overweight rating to an equal weight rating and set a $5.00 price objective for the company. in a research note on Tuesday, March 24th. Finally, SunTrust Banks increased their price objective on Crestwood Equity Partners from $8.00 to $12.00 and gave the company a hold rating in a research note on Wednesday, May 13th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Crestwood Equity Partners has an average rating of Hold and a consensus target price of $21.89.

Shares of CEQP stock opened at $12.67 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.02 and a quick ratio of 0.95. The company has a market cap of $928.71 million, a price-to-earnings ratio of 19.06 and a beta of 4.28. The stock has a 50 day simple moving average of $14.20 and a 200-day simple moving average of $18.13. Crestwood Equity Partners has a 1-year low of $2.65 and a 1-year high of $40.00.

Crestwood Equity Partners (NYSE:CEQP) last announced its earnings results on Tuesday, May 5th. The pipeline company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.95). The business had revenue of $727.90 million for the quarter, compared to analyst estimates of $776.41 million. Crestwood Equity Partners had a return on equity of 5.87% and a net margin of 7.86%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) earnings per share. Analysts anticipate that Crestwood Equity Partners will post 0.01 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. acquired a new stake in shares of Crestwood Equity Partners in the 4th quarter worth $45,000. Sunbelt Securities Inc. acquired a new stake in shares of Crestwood Equity Partners in the 4th quarter worth $11,694,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Crestwood Equity Partners in the 2nd quarter worth $36,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Crestwood Equity Partners by 37.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,010 shares of the pipeline company’s stock worth $123,000 after acquiring an additional 1,086 shares during the last quarter. Finally, Vestcor Investment Management Corp acquired a new stake in shares of Crestwood Equity Partners in the 4th quarter worth $131,000. 62.41% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Crestwood Equity Partners (NYSE:CEQP)

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