Crestwood Equity Partners LP (CEQP) is Upgraded by Stifel to Buy, Price Target at $20

Crestwood Equity Partners LP (CEQP) was Upgraded by Stifel to ” Buy” and the brokerage firm has set the Price Target at $20. Earlier the firm had a rating of “Hold ” on the company shares. Stifel advised their investors in a research report released on May 4, 2016.

On the company’s financial health, Crestwood Equity Partners LP reported $-1.47 EPS for the quarter, missing the analyst consensus estimate by $ -1.58 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.11. The company had revenue of $536.00 million for the quarter, compared to analysts expectations of $604.39 million. The company’s revenue was down -26.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.04 EPS.

Crestwood Equity Partners LP closed down -0.41 points or -2.22% at $18.02 with 6,29,789 shares getting traded on Monday. Post opening the session at $18.17, the shares hit an intraday low of $17.8 and an intraday high of $18.43 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Dec 14, 2015, David M. Wood (director) purchased 10,000 shares at $13.91 per share price. According to the SEC, 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.

Crestwood Equity Partners LP

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