Crestwood Equity Partners LP [NYSE: CEQP] slipped around -0.62 points on Thursday, while shares priced at $10.84 at the close of the session, down -5.41%. The company on July 7 updated its operational and overall business performance during the second quarter of 2020. Crestwood updated on its Bakken operations along with other projects including the COLT Hub and Rail Loading Facility, Arrow gathering system, and Bear Den processing plants.
The company mentioned that during the Q2 the basin fundamentals showed decent improvement as the crude oil pipeline and storage limitations were under control, whereas the WTI pricing and Bakken basis differentials were also alleviated. Moreover, natural gas, produced water, and Arrow crude oil volumes significantly improved in Q2 impacted by the production shut-ins. The company reported the average volumes of Arrow crude oil, natural gas water gathering, and natural gas processing to be around 87 MBbls/d, 90 MMcf/d, 73 MBbls/d, and 87 MMcf/d, respectively.
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Crestwood Equity Partners LP stock is now -64.83% down from its year-to-date (YTD) trading value. CEQP Stock saw the intraday high of $11.45 and lowest of $10.6201 per share. The company’s 52-week high price is 40.00, which means current price is +309.06% above from all time high which was touched on 01/16/20.
Compared to the average trading volume of 1.96M shares, CEQP reached a trading volume of 991913 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Crestwood Equity Partners LP [CEQP]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CEQP shares is $12.89 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CEQP stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Crestwood Equity Partners LP shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on May 12, 2020. The new note on the price target was released on April 22, 2020, representing the official price target for Crestwood Equity Partners LP stock. Previously, the target price had yet another raise to $5, while Barclays analysts kept a Equal Weight rating on CEQP stock.
The Average True Range (ATR) for Crestwood Equity Partners LP is set at 1.45, with the Price to Sales ratio for CEQP stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 0.07.
How has CEQP stock performed recently?
Crestwood Equity Partners LP [CEQP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.11. With this latest performance, CEQP shares dropped by -39.10% in over the last four-week period, additionally sinking by -65.93% over the last 6 months – not to mention a drop of -70.32% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CEQP stock in for the last two-week period is set at 34.49, with the RSI for the last a single of trading hit 25.02, and the three-weeks RSI is set at 40.29 for Crestwood Equity Partners LP [CEQP]. The present Moving Average for the last 50 days of trading for this stock 13.36, while it was recorded at 11.70 for the last single week of trading, and 22.12 for the last 200 days.
Crestwood Equity Partners LP [CEQP]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Crestwood Equity Partners LP [CEQP] shares currently have an operating margin of -2.48 and a Gross Margin at +5.78. Crestwood Equity Partners LP’s Net Margin is presently recorded at +9.73.
Return on Total Capital for CEQP is now -1.70, given the latest momentum, and Return on Invested Capital for the company is 7.21. Return on Equity for this stock inclined to 15.06, with Return on Assets sitting at 5.91. When it comes to the capital structure of this company, Crestwood Equity Partners LP [CEQP] has a Total Debt to Total Equity ratio set at 123.99. Additionally, CEQP Total Debt to Total Capital is recorded at 55.36, with Total Debt to Total Assets ending up at 44.80. Long-Term Debt to Equity for the company is recorded at 179.82, with the Long-Term Debt to Total Capital now at 54.86.
Reflecting on the efficiency of the workforce at the company, Crestwood Equity Partners LP [CEQP] managed to generate an average of $318,904 per employee. Receivables Turnover for the company is 11.87 with a Total Asset Turnover recorded at a value of 0.61.Crestwood Equity Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
Earnings analysis for Crestwood Equity Partners LP [CEQP]
With the latest financial reports released by the company, Crestwood Equity Partners LP posted 2.76/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3,350.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CEQP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Crestwood Equity Partners LP go to 5.00%.
Insider trade positions for Crestwood Equity Partners LP [CEQP]
There are presently around $520 million, or 65.50% of CEQP stock, in the hands of institutional investors. The top three institutional holders of CEQP stocks are: FIRST RESERVE GP XI, INC. with ownership of 17,391,112, which is approximately 0% of the company’s market cap and around 2.50% of the total institutional ownership; ALPS ADVISORS INC, holding 6,430,004 shares of the stock with an approximate value of $73.69 million in CEQP stocks shares; and HARVEST FUND ADVISORS LLC, currently with $37.22 million in CEQP stock with ownership of nearly 29.17% of the company’s market capitalization.
Positions in Crestwood Equity Partners LP stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 51 institutional holders increased their position in Crestwood Equity Partners LP [NYSE:CEQP] by around 4,203,314 shares. Additionally, 70 investors decreased positions by around 10,934,023 shares, while 26 investors held positions by with 30,234,107 shares. The mentioned changes placed institutional holdings at 45,371,444 shares, according to the latest SEC report filing. CEQP stock had 12 new institutional investments in for a total of 873,414 shares, while 35 institutional investors sold positions of 2,898,996 shares during the same period.