( ) experienced a significant increase in short interest during March. On March 31, there were 5,630,000 short shares, an increase of 12.6% over the total of 5,000,000 on March 15. The short-interest rate is 9.5 days based on an average daily share volume of 594 400 shares.
Crestwood Equity Partners Trading up 1.3 %
On Friday, the stock rose $0.32 to $24.99. The trading volume was 381,496 compared to the average of 570 706. The company's simple moving-average is $24.96. Its two-hundred-day moving-average is $27.09. Crestwood Equity Partners' 1 year low is $22.11 while its 1 year high is $32.24. The company's quick ratio is 1.04, its current ratio is 1.28, and it has a debt to equity ratio of 1.95%. The company last announced its results on February 21st. The pipeline company posted $0.26 per share for the third quarter, exceeding the consensus estimate by $0.06 Crestwood Equity Partners' net margin was 0.52%, and their return on equity was 6.31%. The firm's revenue was $1.40 billion, which was lower than analysts' expectations of $1.5 billion. Analysts predict that Crestwood Equity Partners' current fiscal year will see Crestwood Equity Partners post 1,74 earnings per share.
Crestwood Equity Partners Announces Dividend
A quarterly dividend was also declared by the firm, and will be paid out on Monday, 15th May. Investors who are in the books on Monday, 8th May will receive a dividend of $0.655. This dividend will be paid on Friday, May 5. This is a $2.62 dividend with a yield of 10.48%. Crestwood Equity Partners has a payout ratio of -935.68 %.
Institutional Inflows & Outflows
Recently, several institutional investors changed their holdings in the company. Moneta Group Investment Advisors LLC grew its stake in Crestwood Equity Partners shares by 101,693.1% during the fourth quarter. Moneta Group Investment Advisors LLC owns now 543.825,315 of the stock of the pipeline company worth $14.242,785,000, after purchasing an additional 543.291,069 in the last quarterly. Alps Advisors Inc. grew its stake in Crestwood Equity Partners shares by 21.3% during the fourth quarter. Alps Advisors Inc. owns 12,335,027 of the stock of the pipeline company, worth $323.054,000, after acquiring 2,165,569 additional shares in the previous quarter. First Reserve GP XIII Ltd purchased a new share of Crestwood equity partners in the third quarter, worth approximately $313,122,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Crestwood Equity Partners shares by 2.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. owns 2,598,551 of the stock of the pipeline company, worth $68,056,000. This is after purchasing an additional 55 041 shares during the last quarter. Goldman Sachs Group Inc. also increased its holdings in Crestwood Equity Partners shares by 3.9% during the second quarter. Goldman Sachs Group Inc. owns 2,527.324 shares worth $60,858,000 of the stock of the pipeline company after purchasing an additional 93.696 shares during the last quarter. Institutional investors own 61.11%.
Analysts set new price targets
CEQP has been the subject of several research reports by equities analysts. In a report published on Tuesday, Crestwood Equity Partners shares were downgraded from a "hold" rating to a "sell". Citigroup lowered their price target for shares of Crestwood Equity Partners to $30 from $31.00 and gave the company a "buy" rating in a report published on Monday, 27th February. In a research note published on March 1st, Scotiabank began covering shares of Crestwood equity Partners. The company was given a rating of'sector-outperform' and a price target of $31.00. Truist Financial lowered their price target for shares of Crestwood Equity Partners in a report published on Monday, march 27th from $35.00 down to $28.00. They also set a "buy" rating for the firm. Six analysts have given the company a buy rating. Two have given the stock a hold rating. According to MarketBeat.com Crestwood Equity Partners has a current consensus rating of "Moderate Buy" and a target price of $30.
Crestwood Equity Partners Company profile
Crestwood Equity Partners LP is engaged in the investment and management energy midstream assets. It operates in three segments: Gathering and Processing; Storage and Transportation; and Marketing, supply, and logistics. The Gathering and Processing Segment provides producers of unconventional shale and tight gas plays with gathering and transportation, treatment, compression, and processing services.
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