Crestwood Equity Partners LP (NYSE:CEQP) Holdings Boosted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in shares of Crestwood Equity Partners LP (NYSE:CEQPGet Rating) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,075 shares of the pipeline company’s stock after purchasing an additional 1,538 shares during the period. Janney Montgomery Scott LLC’s holdings in Crestwood Equity Partners were worth $363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CEQP. Empirical Asset Management LLC grew its holdings in shares of Crestwood Equity Partners by 2.5% during the 3rd quarter. Empirical Asset Management LLC now owns 19,680 shares of the pipeline company’s stock valued at $547,000 after acquiring an additional 485 shares in the last quarter. American Financial Group Inc. grew its holdings in shares of Crestwood Equity Partners by 4.3% during the 2nd quarter. American Financial Group Inc. now owns 12,000 shares of the pipeline company’s stock valued at $289,000 after acquiring an additional 500 shares in the last quarter. Credit Suisse AG grew its holdings in shares of Crestwood Equity Partners by 7.3% during the 2nd quarter. Credit Suisse AG now owns 7,501 shares of the pipeline company’s stock valued at $181,000 after acquiring an additional 511 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Crestwood Equity Partners by 6.1% during the 2nd quarter. Van ECK Associates Corp now owns 9,728 shares of the pipeline company’s stock valued at $234,000 after acquiring an additional 559 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Crestwood Equity Partners by 8.8% during the 3rd quarter. Pacer Advisors Inc. now owns 10,140 shares of the pipeline company’s stock valued at $282,000 after acquiring an additional 820 shares in the last quarter. 61.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CEQP. StockNews.com cut shares of Crestwood Equity Partners from a “hold” rating to a “sell” rating in a report on Saturday, January 7th. Citigroup initiated coverage on shares of Crestwood Equity Partners in a report on Thursday, December 8th. They issued a “buy” rating and a $32.00 price objective for the company. Wells Fargo & Company upgraded shares of Crestwood Equity Partners from an “equal weight” rating to an “overweight” rating and set a $35.00 price objective for the company in a report on Friday, December 16th. Finally, Raymond James decreased their price objective on shares of Crestwood Equity Partners from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Crestwood Equity Partners Stock Up 0.4 %

Crestwood Equity Partners stock opened at $27.61 on Wednesday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 110.44 and a beta of 2.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.55 and a quick ratio of 1.30. Crestwood Equity Partners LP has a fifty-two week low of $22.88 and a fifty-two week high of $32.96. The firm has a fifty day moving average price of $27.72 and a two-hundred day moving average price of $27.82.

Crestwood Equity Partners (NYSE:CEQPGet Rating) last released its earnings results on Wednesday, November 2nd. The pipeline company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.63 billion. Crestwood Equity Partners had a return on equity of 8.72% and a net margin of 0.94%. As a group, analysts forecast that Crestwood Equity Partners LP will post 0.57 earnings per share for the current year.

Crestwood Equity Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, February 7th will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 9.49%. The ex-dividend date of this dividend is Monday, February 6th. Crestwood Equity Partners’s dividend payout ratio is 1,048.00%.

Crestwood Equity Partners Company Profile

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Crestwood Equity Partners LP develops, acquires, owns, controls, and operates assets and operations in the energy midstream sector in the United States. It 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.

See Also

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Institutional Ownership by Quarter for Crestwood Equity Partners (NYSE:CEQP)

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