Why Crestwood Equity Partners (CEQP) Could Be Positioned for a Surge?
Crestwood Equity Partners LP (CEQP) is a Texas based company which offers natural gas and storage business and crude oil service business and could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CEQP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Crestwood Equity could be a solid choice for investors.
Current Quarter Estimates for CEQP
In the past 30 days, 1 estimate has gone higher for Crestwood Equity while 1 estimate moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 8 cents a share 30 days ago, to 12 cents today, a move of 50%.
Current Year Estimates for CEQP
Meanwhile, Crestwood Equity’s current year figures are also looking quite favorable, with 1 estimate moving higher in the past month, compared to 2 moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 46 cents per share 30 days ago to 52 cents per share today, an improvement of 13%.
Bottom Line
The stock has also started to move higher lately, adding 12.28% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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CRESTWOOD EQUITY PARTNERS LP (CEQP): Free Stock Analysis Report
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