Crestwood Equity Partners LP (NYSE:CEQP) price on Friday, August 06, fall -1.01% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $26.45.
A look at the stock’s price movement, the close in the last trading session was $26.72, moving within a range at $26.39 and $27.75. The beta value (5-Year monthly) was 3.57. Turning to its 52-week performance, $33.94 and $11.43 were the 52-week high and 52-week low respectively. Overall, CEQP moved -9.57% over the past month.
Crestwood Equity Partners LP’s market cap currently stands at around $1.70 billion, with investors looking forward to this quarter’s earnings report slated for Oct 25, 2021 – Oct 29, 2021. The company has a Forward Dividend ratio of 2.50, with its dividend yield at 9.45%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.04, which has seen fiscal year 2021 EPS growth forecast to increase to -$0.54 and about $1.28 for fiscal year 2022. Per the data, EPS growth is expected to be 66.00% for 2021 and 337.00% for the next financial year.
Analysts have a consensus estimate of $760.34 million for the company’s revenue for the quarter, with a low and high estimate of $686.56 million and $834.12 million respectively. The average forecast suggests up to a 53.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $3.47 billion, representing a 53.90% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that CEQP is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 4 recommend CEQP as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CEQP’s current price about -6.52% and -10.57% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 37.41, while 7-day volatility ratio is 4.59% and 3.93% in the 30-day chart. Further, Crestwood Equity Partners LP (CEQP) has a beta value of 3.55, and an average true range (ATR) of 1.14. Analysts have given the company’s stock an average 52-week price target of $31.50, forecast between a low of $27.00 and high of $36.00. Looking at the price targets, the low is -2.08% off current price level while to achieve the yearly target high, price needs to move -36.11%. Nonetheless, investors will most likely welcome a -19.09% jump to $31.50 which is the analysts’ median price.
In the market, a comparison of Crestwood Equity Partners LP (CEQP) and its peers suggest the former has performed considerably weaker. Data shows CEQP’s intraday price has changed -1.01% in last session and 79.44% over the past year. Comparatively, Suburban Propane Partners L.P. (SPH) has moved 1.61% on the day and only 16.46% in the past 12 months. Looking at another peer, we see that PBF Energy Inc. (PBF) price has gained 0.86% on the day. However, the stock is 5.42% off its price a year ago. Moreover, Global Partners LP (GLP) is also down -5.66% in trading on the day while keeping a an uptrend of 77.14% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.17% and 0.41% respectively in the last trading.
If we refocus on Crestwood Equity Partners LP (NYSE:CEQP), historical trading data shows that trading volumes averaged 0.66 million over the past 10 days and 556.87K over the past 3 months. The company’s latest data on shares outstanding shows there are 74.10 million shares.
The 0.30% of Crestwood Equity Partners LP’s shares are in the hands of company insiders while institutional holders own 41.50% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.22 million on May 27, 2021, giving us a short ratio of 4.39. The data shows that as of May 27, 2021 short interest in Crestwood Equity Partners LP (CEQP) stood at 3.54% of shares outstanding, with shares short falling to 2.45 million registered in Apr 29, 2021. Current price change has pushed the stock 39.36% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CEQP stock continues to rise going into the next quarter.