Crestwood Equity Partners (CEQP) Announces Quarterly Earnings Results

Crestwood Equity Partners (NYSE:CEQP) released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.21), MarketWatch Earnings reports. Crestwood Equity Partners had a return on equity of 2.79% and a net margin of 0.47%. The firm had revenue of $835.20 million for the quarter, compared to analysts’ expectations of $879.87 million. During the same period in the prior year, the firm posted $0.21 earnings per share. Crestwood Equity Partners’s revenue for the quarter was down 25.1% on a year-over-year basis.

NYSE CEQP traded down $0.65 during mid-day trading on Wednesday, reaching $36.35. 82,856 shares of the stock were exchanged, compared to its average volume of 276,186. Crestwood Equity Partners has a 1 year low of $26.55 and a 1 year high of $40.55. The company has a market capitalization of $2.63 billion, a PE ratio of 173.10, a price-to-earnings-growth ratio of 13.10 and a beta of 2.19. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.80 and a current ratio of 0.92.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend was Tuesday, May 7th. Crestwood Equity Partners’s dividend payout ratio (DPR) is currently 1,142.86%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CEQP. Credit Suisse AG raised its position in shares of Crestwood Equity Partners by 91.9% in the third quarter. Credit Suisse AG now owns 36,275 shares of the pipeline company’s stock valued at $1,333,000 after buying an additional 17,370 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Crestwood Equity Partners in the third quarter valued at about $409,000. Advisors Asset Management Inc. raised its position in shares of Crestwood Equity Partners by 36.0% in the third quarter. Advisors Asset Management Inc. now owns 30,958 shares of the pipeline company’s stock valued at $1,138,000 after buying an additional 8,201 shares during the last quarter. Spirit of America Management Corp NY raised its position in shares of Crestwood Equity Partners by 53.4% in the fourth quarter. Spirit of America Management Corp NY now owns 291,051 shares of the pipeline company’s stock valued at $8,123,000 after buying an additional 101,276 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Crestwood Equity Partners by 21.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 150,800 shares of the pipeline company’s stock valued at $4,209,000 after buying an additional 27,000 shares during the last quarter. 71.61% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. Wells Fargo & Co raised shares of Crestwood Equity Partners from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 19th. ValuEngine raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. TheStreet raised shares of Crestwood Equity Partners from a “c+” rating to a “b” rating in a research note on Thursday, April 25th. Finally, US Capital Advisors reissued a “hold” rating on shares of Crestwood Equity Partners in a research report on Wednesday, February 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $39.57.

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About Crestwood Equity Partners

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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Earnings History for Crestwood Equity Partners (NYSE:CEQP)

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