Stifel Nicolaus analyst Selman Akyol downgraded Crestwood Equity (NYSE: CEQP) to Hold today. The company’s shares closed on Friday at $37.50, close to its 52-week high of $40.55.
According to TipRanks.com, Akyol is a 4-star analyst with an average return of 2.6% and a 58.3% success rate. Akyol covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Dcp Midstream Partners Lp, and Spectra Energy Partners.
Currently, the analyst consensus on Crestwood Equity is a Moderate Buy with an average price target of $37.
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Based on Crestwood Equity’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $25.5 million. In comparison, last year the company had a GAAP net loss of $6 million.
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Crestwood Equity Partners LP owns and operates energy midstream infrastructure and engages in the natural gas liquids marketing, supply and logistics business. It operates through three segments: Gathering and Processing; Storage and Transportation; and Marketing, Supply and Logistics.
