Goldman Sachs Group Inc. increased its position in shares of Crestwood Equity Partners LP (NYSE:CEQP) by 37.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,907,478 shares of the pipeline company’s stock after purchasing an additional 515,338 shares during the period. Goldman Sachs Group Inc. owned approximately 2.71% of Crestwood Equity Partners worth $49,213,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA acquired a new position in Crestwood Equity Partners in the 3rd quarter valued at $106,000. Green Square Capital LLC acquired a new position in Crestwood Equity Partners in the 3rd quarter valued at $201,000. Raymond James Financial Services Advisors Inc. acquired a new position in Crestwood Equity Partners in the 4th quarter valued at $279,000. BlackRock Inc. raised its holdings in Crestwood Equity Partners by 223.8% in the 4th quarter. BlackRock Inc. now owns 12,226 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 8,450 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in Crestwood Equity Partners in the 3rd quarter valued at $359,000. 65.62% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Barclays set a $31.00 price objective on Crestwood Equity Partners and gave the company a “hold” rating in a report on Wednesday, March 7th. UBS reaffirmed a “buy” rating and issued a $34.00 price objective (up from $30.00) on shares of Crestwood Equity Partners in a report on Friday, March 2nd. Stifel Nicolaus lifted their price objective on Crestwood Equity Partners from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Capital One Financial raised Crestwood Equity Partners from an “equal weight” rating to an “overweight” rating in a report on Friday, January 26th. Finally, Wells Fargo raised Crestwood Equity Partners from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $32.00 in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.25.
In other Crestwood Equity Partners news, CFO Robert Thornbury Halpin III purchased 3,500 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $27.50 per share, with a total value of $96,250.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 36.20% of the stock is currently owned by insiders.
Crestwood Equity Partners stock opened at $27.05 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.05. Crestwood Equity Partners LP has a fifty-two week low of $20.00 and a fifty-two week high of $29.25.
Crestwood Equity Partners Company Profile
Crestwood Equity Partners LP is a holding company and a master limited partnership (MLP). The Company develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. The Company’s segments include gathering and processing (G&P), which includes its natural gas, crude oil and produced water G&P operations; storage and transportation, which includes its natural gas and crude oil storage and transportation operations, and marketing, supply and logistics, which includes its natural gas liquid (NGL) supply and logistics business, crude oil storage and rail loading facilities and fleet, and salt production business.
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