Moors & Cabot Inc. Takes Position in Crestwood Equity Partners LP (CEQP)
Moors & Cabot Inc. bought a new position in Crestwood Equity Partners LP (NYSE:CEQP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,232 shares of the pipeline company’s stock, valued at approximately $220,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of Crestwood Equity Partners in the first quarter valued at approximately $35,000. Penserra Capital Management LLC bought a new stake in Crestwood Equity Partners during the fourth quarter valued at approximately $175,000. Tibra Equities Europe Ltd bought a new stake in Crestwood Equity Partners during the fourth quarter valued at approximately $318,000. Foresight Wealth Management LLC bought a new stake in Crestwood Equity Partners during the fourth quarter valued at approximately $353,000. Finally, Wiley BROS. Aintree Capital LLC bought a new stake in Crestwood Equity Partners during the fourth quarter valued at approximately $385,000. Hedge funds and other institutional investors own 71.61% of the company’s stock.
Shares of CEQP opened at $36.59 on Thursday. The company has a market capitalization of $2.61 billion, a PE ratio of 174.24, a price-to-earnings-growth ratio of 13.26 and a beta of 2.19. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.92 and a quick ratio of 0.80. Crestwood Equity Partners LP has a fifty-two week low of $26.55 and a fifty-two week high of $40.55.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend was Tuesday, May 7th. Crestwood Equity Partners’s payout ratio is 1,142.86%.
CEQP has been the subject of several research analyst reports. US Capital Advisors reiterated a “hold” rating on shares of Crestwood Equity Partners in a research report on Wednesday, February 6th. Wells Fargo & Co upgraded shares of Crestwood Equity Partners from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 19th. TheStreet upgraded shares of Crestwood Equity Partners from a “c+” rating to a “b” rating in a research report on Thursday, April 25th. Finally, ValuEngine lowered shares of Crestwood Equity Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $39.57.
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Crestwood Equity Partners Company Profile
Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing (G&P); Storage and Transportation (S&T); and Marketing, Supply and Logistics (MS&L). The G&P segment offers gathering and transportation services for natural gas, crude oil, and produced water; and processing, treating, and compression services.
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