Could Crestwood Equity Partners LP Change Direction After Today’s Bullish Options Activity?

 Could Crestwood Equity Partners LP Change Direction After Today's Bullish Options Activity?

In today’s session Crestwood Equity Partners LP (CEQP) registered an unusually high (266) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious CEQP increase. With 266 contracts traded and 15654 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: CEQP161021C00025000 closed last at: $0.05 or 80% down. About 9,718 shares traded hands. Crestwood Equity Partners LP (NYSE:CEQP) has risen 125.05% since March 9, 2016 and is uptrending. It has outperformed by 117.64% the S&P500.

Analysts await Crestwood Equity Partners LP (NYSE:CEQP) to report earnings on November, 1. They expect $-0.15 EPS, down 100.75% or $20.15 from last year’s $20 per share. After $-0.74 actual EPS reported by Crestwood Equity Partners LP for the previous quarter, Wall Street now forecasts -79.73% EPS growth.

Crestwood Equity Partners LP (NYSE:CEQP) Ratings Coverage

Out of 6 analysts covering Crestwood Equity (NYSE:CEQP), 1 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 17% are positive. Crestwood Equity has been the topic of 10 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock with “Underweight” rating in Tuesday, June 21 report. The firm has “Equal-Weight” rating given on Wednesday, February 24 by Barclays Capital. As per Wednesday, December 23, the company rating was maintained by Barclays Capital. The company was downgraded on Thursday, October 8 by Bank of America. As per Wednesday, May 4, the company rating was upgraded by Stifel Nicolaus. JP Morgan maintained the stock with “Neutral” rating in Wednesday, March 30 report. Robert W. Baird downgraded the stock to “Neutral” rating in Monday, January 25 report. The rating was downgraded by Raymond James to “Mkt Perform” on Monday, January 4.

According to Zacks Investment Research, “Crestwood Equity Partners LP offers a natural gas and storage business in Texas and an NGL and crude oil services business. It operates through three segments: Gathering and Processing, Gas Storage and Transportation, and NGL and Crude Services. The Company serves customers in the United States and Canada. Crestwood Equity Partners LP, formerly known as Inergy L.P., is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment increased to Infinity in 2016 Q2. Its up Infinity, from 0.67 in 2016Q1. The ratio increased, as 0 funds sold all Crestwood Equity Partners LP shares owned while 0 reduced positions. 1 funds bought stakes while 0 increased positions. They now own 59,838 shares or 102.88% more from 29,494 shares in 2016Q1.
Huntington National Bank has 0% invested in the company for 625 shares. Focused Wealth Mngmt last reported 1 shares in the company. Moreover, Tru Department Mb Bancorp N A has 0% invested in Crestwood Equity Partners LP (NYSE:CEQP) for 425 shares. Bush Odonnell Invest Advsr last reported 17,727 shares in the company. Jacobus Wealth Inc holds 11,141 shares or 0.07% of its portfolio.

Insider Transactions: Since May 16, 2016, the stock had 8 insider purchases, and 0 sales for $24.98 million net activity. 289,894 shares were bought by First Reserve GP XI – Inc., worth $6.00 million on Tuesday, May 24.

Crestwood Equity Partners LP is a holding and master limited partnership company. The company has a market cap of $1.43 billion. The Firm develops, acquires, owns or controls, and operates assets and activities within the energy midstream sector. It currently has negative earnings. The Company’s divisions include gathering and processing (G&P), which includes its crude oil, natural gas 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.

CEQP Company Profile

Crestwood Equity Partners LP, incorporated on March 7, 2001, is a holding and master limited partnership (MLP) company. The Firm develops, acquires, owns or controls, and operates assets and activities within the energy midstream sector. The Company’s divisions include gathering and processing (G&P), which includes its crude oil, natural gas 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. The Firm provides infrastructure solutions to service natural gas and crude oil shale plays across the United States. It owns and operates a portfolio of natural gas and crude oil gathering, processing, storage and transportation assets.

More notable recent Crestwood Equity Partners LP (NYSE:CEQP) news were published by: Fool.com which released: “3 Reasons Why Crestwood Equity Partners LP Surged Nearly 20% in May” on June 09, 2016, also Fool.com with their article: “Why Crestwood Equity Partners LP Stock Is Rocketing Higher Today” published on April 21, 2016, Forbes.com published: “Ex-Dividend Reminder: Crestwood Equity Partners, Williams Partners and Sunoco” on August 01, 2016. More interesting news about Crestwood Equity Partners LP (NYSE:CEQP) were released by: Fool.com and their article: “Merger News Sent Crestwood Equity Partners LP Down 17%” published on May 06, 2015 as well as Seekingalpha.com‘s news article titled: “Crestwood Equity Partners – This 50% Yielder Is Ripe For The Picking” with publication date: April 14, 2016.

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