CNH Partners LLC grew its stake in Crestwood Equity Partners LP (NYSE:CEQP) by 23.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,936 shares of the pipeline company’s stock after acquiring an additional 5,300 shares during the quarter. CNH Partners LLC’s holdings in Crestwood Equity Partners were worth $656,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Center Coast Capital Advisors LP increased its holdings in shares of Crestwood Equity Partners by 9.7% in the 2nd quarter. Center Coast Capital Advisors LP now owns 2,658,700 shares of the pipeline company’s stock valued at $62,479,000 after acquiring an additional 236,059 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in shares of Crestwood Equity Partners by 1.6% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,750,539 shares of the pipeline company’s stock worth $41,136,000 after purchasing an additional 27,500 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Crestwood Equity Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 11,740 shares of the pipeline company’s stock worth $308,000 after purchasing an additional 3,390 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Crestwood Equity Partners by 39.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 823,922 shares of the pipeline company’s stock worth $19,363,000 after purchasing an additional 234,660 shares in the last quarter. Finally, Waldron LP acquired a new stake in shares of Crestwood Equity Partners in the 1st quarter worth $380,000. Institutional investors and hedge funds own 65.15% of the company’s stock.
Shares of Crestwood Equity Partners LP (NYSE:CEQP) remained flat at $23.90 during trading on Wednesday. 18,511 shares of the stock traded hands. The stock’s market capitalization is $1.67 billion. The firm’s 50-day moving average is $24.80 and its 200-day moving average is $24.41. Crestwood Equity Partners LP has a 12-month low of $18.51 and a 12-month high of $28.30.
Crestwood Equity Partners (NYSE:CEQP) last released its quarterly earnings results on Tuesday, August 1st. The pipeline company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.23). The firm had revenue of $850.30 million for the quarter, compared to analyst estimates of $706.34 million. Crestwood Equity Partners had a negative net margin of 4.68% and a negative return on equity of 1.13%. The firm’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.74) EPS. On average, equities research analysts expect that Crestwood Equity Partners LP will post ($0.98) EPS for the current year.
A number of analysts have recently weighed in on CEQP shares. BidaskClub raised Crestwood Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Stifel Nicolaus raised Crestwood Equity Partners from a “hold” rating to a “buy” rating and lifted their price target for the stock from $27.00 to $28.00 in a research report on Wednesday, August 2nd. Finally, ValuEngine cut Crestwood Equity Partners from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Crestwood Equity Partners presently has a consensus rating of “Hold” and an average price target of $27.40.
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In other Crestwood Equity Partners news, SVP Joel Christian Lambert sold 6,927 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $25.47, for a total value of $176,430.69. The transaction was disclosed in a document filed with the SEC, which is available at this link. 36.20% of the stock is currently owned by corporate insiders.
About Crestwood Equity Partners
Crestwood Equity Partners LP is a holding company and a master limited partnership (MLP). The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. The Company’s segments include gathering and processing (G&P), which includes its natural gas, crude oil and produced water G&P operations; storage and transportation, which includes its natural gas and crude oil storage and transportation operations, and marketing, supply and logistics, which includes its natural gas liquid (NGL) supply and logistics business, crude oil storage and rail loading facilities and fleet, and salt production business.
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