Crestwood Equity Partners LP (CEQP) is Downgraded by Stifel to Hold

Crestwood Equity Partners LP (CEQP) was Downgraded by Stifel to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their investors in a research report released on Aug 3, 2016.

Many Wall Street Analysts have commented on Crestwood Equity Partners LP. Barclays Resumed Crestwood Equity Partners LP on Jun 21, 2016 to “Underweight”, Price Target of the shares are set at $22.

On the company’s financial health, Crestwood Equity Partners LP reported $-0.74 EPS for the quarter, missing the analyst consensus estimate by $ -0.83 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.09. The company had revenue of $601.90 million for the quarter, compared to analysts expectations of $544.11 million. The company’s revenue was down -6.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.21 EPS.

Crestwood Equity Partners LP closed down -0.18 points or -0.84% at $21.17 with 4,02,625 shares getting traded on Tusday. Post opening the session at $21.24, the shares hit an intraday low of $20.62 and an intraday high of $21.92 and the price fluctuated in this range throughout the day.Shares ended Tusday 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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