Spirit of America Management Corp NY boosted its position in shares of Crestwood Equity Partners LP (NYSE:CEQP) by 22.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,684 shares of the pipeline company’s stock after acquiring an additional 64,633 shares during the period. Crestwood Equity Partners accounts for 1.8% of Spirit of America Management Corp NY’s holdings, making the stock its 16th biggest position. Spirit of America Management Corp NY owned 0.49% of Crestwood Equity Partners worth $12,517,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of CEQP. Sound Income Strategies LLC purchased a new stake in Crestwood Equity Partners during the first quarter valued at approximately $35,000. Trust Asset Management LLC lifted its position in Crestwood Equity Partners by 3,575.0% during the third quarter. Trust Asset Management LLC now owns 118,115 shares of the pipeline company’s stock valued at $123,000 after acquiring an additional 114,901 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Crestwood Equity Partners during the fourth quarter valued at approximately $175,000. Tibra Equities Europe Ltd purchased a new stake in Crestwood Equity Partners during the fourth quarter valued at approximately $318,000. Finally, Foresight Wealth Management LLC purchased a new stake in Crestwood Equity Partners during the fourth quarter valued at approximately $353,000. 71.53% of the stock is owned by institutional investors.
A number of research firms recently commented on CEQP. ValuEngine raised shares of Crestwood Equity Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Wells Fargo & Co upgraded shares of Crestwood Equity Partners from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 19th. Finally, US Capital Advisors restated a “hold” rating on shares of Crestwood Equity Partners in a research note on Wednesday, February 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $39.57.
Crestwood Equity Partners (NYSE:CEQP) last issued its quarterly earnings results on Tuesday, February 19th. The pipeline company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.42. Crestwood Equity Partners had a net margin of 0.98% and a return on equity of 4.07%. The business had revenue of $768.40 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted ($2.04) EPS. Crestwood Equity Partners’s revenue for the quarter was down 38.4% compared to the same quarter last year. Equities research analysts anticipate that Crestwood Equity Partners LP will post 0.63 EPS for the current fiscal year.
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Crestwood Equity Partners Profile
Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing (G&P); Storage and Transportation (S&T); and Marketing, Supply and Logistics (MS&L). The G&P segment offers gathering and transportation services for natural gas, crude oil, and produced water; and processing, treating, and compression services.
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