In a recent filing with the Securities and Exchange Commission, Sanders Morris Harris LLC disclosed their latest purchase of Crestwood Equity Partners LP shares. The institutional investor acquired 11,970 shares of the energy midstream company’s stock, valued at approximately $298,000 during the first quarter of this year.
Crestwood Equity Partners LP develops, acquires, owns, controls, and operates assets and operations in the energy midstream sector throughout the United States. The company operates through three segments: Gathering and Processing North; Gathering and Processing South; and Storage and Logistics. The Gathering and Processing North segment provides natural gas, crude oil, and produced water gathering services to various producers located in the Williston Basin and Powder River Basin.
As of June 19th 2023,Crestwood Equity Partners LP stock opened at $28.12 per share. It should be noted that this is significantly lower than its fifty-two week high which was sitting at $31.46 per share. Despite this temporary setback however,Crestwood’s growth profile may catch larger investors’ interests which could ultimately drive its stock price higher over time.
Furthermore…Despite having a debt-to-equity ratio of 1.98,Crestwood Equity Partner’s current ratio of 1.10 displays good liquidity levels for investors looking for stability.This factor paired with international desires for renewable energy creation can make the pipeline company a valuable long-term investment plan as it continues to serve an essential role in America’s oil industry while expanding steadily into cleaner territories including biofuels plant projects.
To wrap up,Sanders Morris Harris LLC’s ambitious acquisition demonstrates a promising future for Crestwood Equity Partners LP as demand grows for American based companies capable of providing various forms of fuels including sustainable possibilities.Optimistic shareholders might see increased activity among larger institutional investors following this latest development in Crestwood’s success story.So we wait to see how events play out over time but one thing is for sure, Crestwood Equity Partners LP looks to be one of the most exciting prospects in the energy midstream sector.
[bs_slider_forecast ticker=”CEQP”]
Crestwood Equity Partners LP: Strong Prospects with Increasing Interest from Institutional Investors and Positive Predictions from Analysts
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CEQP” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Crestwood Equity Partners LP, a Texas-based midstream company, has recorded an average consensus rating of “Moderate Buy” and an average target price of $29.88 since the beginning of the year. Hedge funds and institutional investors currently own 52.48% of the company’s stock. According to recent data from Bloomberg, various institutional investors have bought and sold shares in Crestwood Equity Partners in a sign of increasing interest in the firm. Quadrant Capital Group LLC now owns 922 shares valued at $26,000 after acquiring an additional 384 shares in Q3 2022, while Cambridge Investment Research Advisors Inc.’s position grew by 4.6% during Q4 2022. Meanwhile, research analysts’ predictions are mostly positive for Crestwood with most giving a ‘buy’ or ‘hold’ rating to the stock.
Crestwood Equity Partners LP operates through three segments: Gathering and Processing North; Gathering and Processing South; and Storage and Logistics. The company offers natural gas, crude oil, and produced water gathering services to producers in the Williston Basin as well as processing, compression, treating, and disposal services.
In May 2022, Crestwood announced its quarterly earnings results with $0.15 earnings per share for the quarter which met analysts’ estimates. Net margin was at 0.89%, while the return on equity was at 7.53%. Revenue was reported at $1.26 billion for that quarter compared to Wall Street expectations of $1.51 billion.
Crestwood also recently disclosed its quarterly dividend paid out on May 15th this year whereby investors were paid a $0.655 dividend representing a yield of 9.32% on investments made by record holders as of May 8th.
Due to institutional investors showing interest in Crestwood coupled with positive reviews from analysts regarding both dividends payments and increased revenues this past quarter, it seems that Crestwood Equity Partners LP is slated to have a strong and profitable year moving forward.
