Stifel Nicolaus Downgrades Crestwood Equity Partners LP to Hold

Brokerage firm Stifel Nicolaus Downgrades its rating on Crestwood Equity Partners LP(NYSE:CEQP). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Stifel Nicolaus was issued on Aug 3, 2016.

In a different note, On Jun 21, 2016, Barclays said it Reinstates its rating on Crestwood Equity Partners LP. The shares have been rated ‘Underweight’ by the firm.

Crestwood Equity Partners LP (CEQP) made into the market gainers list on Fridays trading session with the shares advancing 0.81% or 0.17 points. Due to strong positive momentum, the stock ended at $21.21, which is also near the day’s high of $21.35. The stock began the session at $21.22 and the volume stood at 3,15,958 shares. The 52-week high of the shares is $37 and the 52 week low is $7.9. The company has a current market capitalization of $1,465 M and it has 6,90,54,059 shares in outstanding.

Crestwood Equity Partners LP(CEQP) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $601.90M. Analysts had an estimated revenue of $521.23M. Earnings per share were $-0.18. Analysts had estimated an EPS of $0.10.

Several Insider Transactions has been reported to the SEC. On Dec 14, 2015, David M. Wood (director) purchased 10,000 shares at $13.91 per share price.Also, On Dec 10, 2015, David Lumpkins (director) purchased 10,000 shares at $13.40 per share price.

Crestwood Equity Partners LP develops acquires owns and operates primarily assets and operations within the energy midstream sector. The Company operates through three segments: gathering and processing segment which provides natural gas gathering processing treating and compression services to producers in shale plays located in West Virginia Wyoming Texas Arkansas New Mexico and Louisiana; Storage and Transportation segment which owns and operates natural gas storage facilities with an aggregate working gas storage capacity of approximately 79.3 billion cubic feet per day (Bcf/d) including its 50.01% interest in Tres Palacios Gas Storage Company LLC and NGL and crude services segment which includes crude oil rail terminals the Arrow gathering system its fleet of over-the-road crude oil and produced water transportation assets an NGL storage facility and US Salt LLC.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *