J.P. Morgan Keeps Their Buy Rating on Crestwood Equity (CEQP)

J.P. Morgan analyst Dan Walk maintained a Buy rating on Crestwood Equity (CEQPResearch Report) on June 3 and set a price target of $38.00. The company’s shares closed last Friday at $28.40.

Walk has an average return of 0.2% when recommending Crestwood Equity.

According to TipRanks.com, Walk is ranked #6141 out of 7936 analysts.

Crestwood Equity has an analyst consensus of Strong Buy, with a price target consensus of $36.40.

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Based on Crestwood Equity’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.58 billion and net profit of $12 million. In comparison, last year the company earned revenue of $1.03 billion and had a GAAP net loss of $48.4 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 the following segments: Gathering and Processing; Storage and Transportation; and Marketing, Supply and Logistics. The Gathering and Processing segment provides gathering and transportation services and processing, treating and compression services to producers in unconventional shale plays and tight-gas plays in North Dakota, West Virginia, Texas, New Mexico, Wyoming, Arkansas, and Louisiana. The Storage and Transportation segment includes COLT Hub, which is crude-by-rail terminal serving Bakken crude oil production. The Marketing, Supply and Logistics segment includes West Coast operations, supply and logistics operations, storage and terminals operations, crude oil and produced water trucking operations, and U.S. Salt, LLC. The company was founded on March 7, 2001 and is headquartered in Houston, TX.

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