Crestwood Equity Partners LP (NYSE:CEQP – Get Free Report) has been given an average recommendation of “Reduce” by the eight research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $28.13.
Several equities research analysts have recently issued reports on the company. Scotiabank cut Crestwood Equity Partners from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $29.00 to $27.00 in a report on Thursday, August 17th. Wells Fargo & Company cut Crestwood Equity Partners from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $31.00 to $29.00 in a report on Thursday, August 17th. Raymond James cut Crestwood Equity Partners from an “outperform” rating to a “market perform” rating and set a $30.00 price objective on the stock. in a report on Friday, August 25th. JPMorgan Chase & Co. cut Crestwood Equity Partners from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $30.00 to $28.00 in a report on Tuesday, August 1st. Finally, Truist Financial lowered Crestwood Equity Partners from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $28.00 in a research report on Friday, August 18th.
Institutional Inflows and Outflows
Crestwood Equity Partners Price Performance
CEQP stock opened at $28.26 on Tuesday. Crestwood Equity Partners has a 52-week low of $22.11 and a 52-week high of $30.40. The stock’s fifty day simple moving average is $28.53 and its 200-day simple moving average is $27.44. The company has a quick ratio of 1.10, a current ratio of 1.37 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 30.39 and a beta of 2.43.
Crestwood Equity Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Monday, October 23rd were given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 9.27%. The ex-dividend date was Friday, October 20th. Crestwood Equity Partners’s dividend payout ratio (DPR) is presently 281.72%.
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.
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