According to the information from Bloomberg.com, the six research firms currently monitoring Crestwood Equity Partners LP (NYSE: CEQP) have collectively provided the company with an average rating of “Moderate Buy.” In addition, four investment analysts have recommended purchasing the stock, in contrast to the two who suggested keeping the stock in one’s portfolio. In the previous year, brokerage firms that followed the stock had an average price estimate of $34.75 for the share price.
On September 15, 11,400,000 shares of the company’s stock were sold by Energy Corp. Chord, which is the company’s largest stakeholder. At an average price of $26.71, the stock could fetch a total price of $304,494,000.00 after being sold. Following the completion of the acquisition, the insider now owns 9,585,668 company shares, which have a combined value of around $256,033,192.28. An SEC filing that explains the transaction can be accessed on the website of the Securities and Exchange Commission (SEC). At present, 6.10 percent of the company’s equity is owned by employees of the company.
Institutional investors’ holdings in the company have recently seen some changes. During the first three months of the year, Crestwood Equity Partners was granted an additional investment from Alphastar Capital Management LLC for $508,000. Over $480,000 was added to McDonald Partners LLC’s ownership of Crestwood Equity Partners during the year’s first three months. During the first three months of the year, Versant Capital Management, Inc. invested in Crestwood Equity Partners for $57,000. During the first three months of 2018, Crestwood Equity Partners was informed that Fort Washington Investment Advisors Inc., OH, had opened a new investment for $260,000. Not to mention that Groesbeck Investment Management Corp., NJ, shelled out $293,000 during the first quarter for a new position in Crestwood Equity Partners. At the moment, institutional investors and investors from hedge funds hold a total of 43.81% of the company’s shares.
On Friday, the price of NYSE: CEQP stock was $30.33. The firm’s market capitalization is currently sitting at $3.31 billion, the price-to-earnings ratio is -216.64, and the beta value sits at 2.57. The 52-week low for Crestwood Equity Partners is $22.88, and the 52-week high for the company is $32.96, respectively. The current ratio, the quick ratio, and the debt-to-equity ratio are all equal at 1.68, while the quick ratio is 1.34 and the debt-to-equity ratio is 1.08. The company’s 50-day and 200-day simple moving averages are $28.80, while the simple moving average for the 200 days is $27.80.
The corporation also announced a quarterly dividend, which will be distributed to shareholders on November 14. In addition, a $0.655 dividend payment will be given to stockholders whose records were complete as of November 7. This equates to a dividend payment of $2.62 per year and an 8.64% dividend yield when calculated annually. The date that dividends are forfeited is the following Friday, November 4. Crestwood Equity Partners has a payout ratio of -1,871.43%.
The post Analysts have assigned a consensus rating of “Moderate Buy” to Crestwood Equity Partners LP (NYSE:CEQP). appeared first on Best Stocks.
