Wall Street Analyst Resumed Crestwood Equity Partners LP [CEQP]. What else is Wall St. saying

Crestwood Equity Partners LP [NYSE: CEQP] surged by $0.42 during the normal trading session on Tuesday and reaching a high of $29.85 during the day while it closed the day at $29.04. The company report on September 12, 2022 that Crestwood Announces Pricing of Secondary Offering of Common Units and Concurrent Common Unit Repurchase.


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Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) today announced the pricing of the previously announced underwritten secondary offering by certain subsidiaries of Chord Energy Corporation (NASDAQ: CHRD) (f/k/a Oasis Petroleum Inc.) (the “Selling Unitholders”) of an aggregate of 11,400,000 common units representing limited partner interests of Crestwood resulting in total gross proceeds to the Selling Unitholders of approximately $306.7 million (the “Public Offering”). The Selling Unitholders will receive all of the proceeds from the Offering. Crestwood is not offering any of its common units in the Public Offering and will not receive any proceeds from the Public Offering.

The underwriter intends to offer the common units from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices. The Public Offering is expected to close on September 15, 2022, subject to customary closing conditions.

Crestwood Equity Partners LP stock has also gained 8.00% of its value over the past 7 days. However, CEQP stock has inclined by 8.60% in the 3 months of the year. Over the past six months meanwhile, it has lost -1.56% and gained 5.26% year-on date.

The market cap for CEQP stock reached $3.12 billion, with 98.00 million shares outstanding and 66.98 million shares in the current float. Compared to the average trading volume of 571.06K shares, CEQP reached a trading volume of 4070224 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $35.38 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 1.90. 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.

Truist have made an estimate for Crestwood Equity Partners LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 02, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on February 28, 2022, representing the official price target for Crestwood Equity Partners LP stock. Previously, the target price had yet another raise from $30 to $32, while CapitalOne kept a Overweight rating on CEQP stock.

The Average True Range (ATR) for Crestwood Equity Partners LP is set at 0.81, with the Price to Sales ratio for CEQP stock in the period of the last 12 months amounting to 0.55. The Price to Book ratio for the last quarter was 2.17, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for CEQP in the course of the last twelve months was 75.32 with Quick ratio for the last quarter at 1.10.

CEQP stock trade performance evaluation

Crestwood Equity Partners LP [CEQP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.00. With this latest performance, CEQP shares gained by 10.92% in over the last four-week period, additionally sinking by -1.56% over the last 6 months – not to mention a rise of 2.00% 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 66.05, with the RSI for the last a single of trading hit 71.39, and the three-weeks RSI is set at 62.03 for Crestwood Equity Partners LP [CEQP]. The present Moving Average for the last 50 days of trading for this stock 26.27, while it was recorded at 28.13 for the last single week of trading, and 27.95 for the last 200 days.

Crestwood Equity Partners LP [CEQP]: An insightful look at the core 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 -4.41 and a Gross Margin at +0.95. Crestwood Equity Partners LP’s Net Margin is presently recorded at -1.92.

Return on Equity for this stock declined to -5.70, with Return on Assets sitting at -1.62.

Crestwood Equity Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.30.

Earnings per share (EPS) analysis for Crestwood Equity Partners LP [CEQP] stock

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%.

Crestwood Equity Partners LP [CEQP]: Insider Ownership positions

There are presently around $1,064 million, or 34.00% of CEQP stock, in the hands of institutional investors. The top three institutional holders of CEQP stocks are: ALPS ADVISORS INC with ownership of 10,423,034, which is approximately -3.986% of the company’s market cap and around 0.20% of the total institutional ownership; TORTOISE CAPITAL ADVISORS, L.L.C., holding 2,682,533 shares of the stock with an approximate value of $77.9 million in CEQP stocks shares; and GOLDMAN SACHS GROUP INC, currently with $73.39 million in CEQP stock with ownership of nearly 3.85% of the company’s market capitalization.

Positions in Crestwood Equity Partners LP stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 74 institutional holders increased their position in Crestwood Equity Partners LP [NYSE:CEQP] by around 2,772,073 shares. Additionally, 56 investors decreased positions by around 5,173,309 shares, while 51 investors held positions by with 28,700,415 shares. The mentioned changes placed institutional holdings at 36,645,797 shares, according to the latest SEC report filing. CEQP stock had 15 new institutional investments in for a total of 242,041 shares, while 24 institutional investors sold positions of 600,086 shares during the same period.

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