Bank of Montreal Can reduced its position in shares of Crestwood Equity Partners LP (NYSE:CEQP) by 84.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 109,263 shares of the pipeline company’s stock after selling 577,037 shares during the quarter. Bank of Montreal Can owned 0.15% of Crestwood Equity Partners worth $1,184,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its stake in shares of Crestwood Equity Partners by 4.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 50,257 shares of the pipeline company’s stock valued at $659,000 after purchasing an additional 2,245 shares during the period. California Public Employees Retirement System grew its stake in shares of Crestwood Equity Partners by 2.7% during the 2nd quarter. California Public Employees Retirement System now owns 112,911 shares of the pipeline company’s stock valued at $1,480,000 after purchasing an additional 2,961 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Crestwood Equity Partners by 22.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 17,300 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 3,130 shares during the period. Virtu Financial LLC bought a new stake in shares of Crestwood Equity Partners during the 2nd quarter valued at about $373,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Crestwood Equity Partners during the 2nd quarter valued at about $1,834,000. Institutional investors and hedge funds own 53.31% of the company’s stock.
A number of research analysts have recently weighed in on the company. TheStreet cut Crestwood Equity Partners from a “c” rating to a “d+” rating in a research report on Tuesday, August 4th. Raymond James lifted their price objective on Crestwood Equity Partners from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. UBS Group cut Crestwood Equity Partners to a “hold” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company cut Crestwood Equity Partners from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.17.
NYSE CEQP opened at $13.10 on Wednesday. The stock’s 50 day moving average is $14.12 and its 200 day moving average is $12.03. The company has a current ratio of 1.10, a quick ratio of 0.79 and a debt-to-equity ratio of 1.65. Crestwood Equity Partners LP has a 12 month low of $2.65 and a 12 month high of $40.00. The stock has a market cap of $989.88 million, a PE ratio of 48.32 and a beta of 4.13.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.52). The firm had revenue of $352.70 million for the quarter, compared to analysts’ expectations of $495.13 million. Crestwood Equity Partners had a positive return on equity of 5.18% and a negative net margin of 0.26%. The firm’s revenue was down 48.4% on a year-over-year basis. During the same period last year, the company earned $2.58 earnings per share. On average, analysts forecast that Crestwood Equity Partners LP will post -0.11 EPS for the current fiscal year.
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.
See Also: Gross Domestic Product (GDP)
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