Natixis cut its holdings in Crestwood Equity Partners LP (NYSE:CEQP – Get Rating) by 43.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,400 shares of the pipeline company’s stock after selling 125,000 shares during the quarter. Natixis owned 0.16% of Crestwood Equity Partners worth $4,332,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. First Reserve GP XIII Ltd purchased a new stake in Crestwood Equity Partners in the 3rd quarter worth $313,122,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crestwood Equity Partners by 2.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,598,551 shares of the pipeline company’s stock worth $68,056,000 after purchasing an additional 55,041 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Crestwood Equity Partners by 3.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,527,324 shares of the pipeline company’s stock valued at $60,858,000 after buying an additional 93,696 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Crestwood Equity Partners by 15.0% in the 4th quarter. Clearbridge Investments LLC now owns 2,261,218 shares of the pipeline company’s stock valued at $59,221,000 after buying an additional 295,000 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Crestwood Equity Partners by 195.0% in the 3rd quarter. UBS Group AG now owns 2,222,644 shares of the pipeline company’s stock worth $61,723,000 after buying an additional 1,469,303 shares during the last quarter. 61.11% of the stock is owned by institutional investors and hedge funds.
Crestwood Equity Partners Price Performance
Shares of Crestwood Equity Partners stock opened at $26.56 on Friday. The stock has a 50 day moving average of $25.02 and a 200 day moving average of $25.94. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.98. Crestwood Equity Partners LP has a fifty-two week low of $22.11 and a fifty-two week high of $31.46.
Crestwood Equity Partners Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date was Friday, May 5th. Crestwood Equity Partners’s dividend payout ratio (DPR) is -2,911.11%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on CEQP shares. Citigroup decreased their target price on Crestwood Equity Partners from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 27th. Stifel Nicolaus decreased their price target on shares of Crestwood Equity Partners from $30.00 to $29.00 in a research note on Wednesday, May 17th. Wells Fargo & Company dropped their price objective on shares of Crestwood Equity Partners from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, March 8th. Truist Financial decreased their target price on shares of Crestwood Equity Partners from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 27th. Finally, StockNews.com began coverage on Crestwood Equity Partners in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.88.
About Crestwood Equity Partners
Crestwood Equity Partners LP engages in investment and management of energy midstream assets. It operates through the following segments: Gathering and Processing, Storage and Transportation, and Marketing, Supply, and Logistics. The Gathering and Processing segment provides gathering and transportation services, processing, treating, and compression services, and disposal services to producers in unconventional shale plays and tight-gas plays.
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