Crestwood Equity Partners LP - Unit said on April 20, 2023 that its board of directors declared a regular quarterly dividend of $0.66 per share ($2.62 annualized). Previously, the company paid $0.66 per share.
Shares must be purchased before the ex-div date of May 5, 2023 to qualify for the dividend. Shareholders of record as of May 8, 2023 will receive the payment on May 15, 2023.
At the current share price of $24.99 / share, the stock's dividend yield is 10.48%. Looking back five years and taking a sample every week, the average dividend yield has been 10.93%, the lowest has been 5.95%, and the highest has been 70.42%. The standard deviation of yields is 7.89 (n=237).
The current dividend yield is 0.06 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 8.82. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.05%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 207 funds or institutions reporting positions in Crestwood Equity Partners LP - Unit. This is a decrease of 17 owner(s) or 7.59% in the last quarter. Average portfolio weight of all funds dedicated to CEQP is 0.75%, an increase of 71.37%. Total shares owned by institutions increased in the last three months by 7.40% to 83,331K shares. 
The put/call ratio of CEQP is 0.75, indicating a bullish outlook.
Analyst Price Forecast Suggests 22.00% Upside
As of April 7, 2023, the average one-year price target for Crestwood Equity Partners LP - Unit is $30.49. The forecasts range from a low of $25.25 to a high of $33.60. The average price target represents an increase of 22.00% from its latest reported closing price of $24.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crestwood Equity Partners LP - Unit is $6,257MM, an increase of 4.27%. The projected annual non-GAAP EPS is $1.83.
What are Other Shareholders Doing?
Alps Advisors holds 12,335K shares representing 11.71% ownership of the company. In it's prior filing, the firm reported owning 10,169K shares, representing an increase of 17.56%. The firm increased its portfolio allocation in CEQP by 7.85% over the last quarter.
First Reserve GP XIII holds 11,276K shares representing 10.70% ownership of the company. No change in the last quarter.
AMLP - ALERIAN MLP ETF holds 10,634K shares representing 10.09% ownership of the company. In it's prior filing, the firm reported owning 10,441K shares, representing an increase of 1.81%. The firm increased its portfolio allocation in CEQP by 12.17% over the last quarter.
Bank Of America holds 3,448K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 4,417K shares, representing a decrease of 28.11%. The firm decreased its portfolio allocation in CEQP by 99.93% over the last quarter.
Goldman Sachs Group holds 3,217K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 3,232K shares, representing a decrease of 0.48%. The firm decreased its portfolio allocation in CEQP by 9.12% over the last quarter.
Crestwood Equity Partners Background Information
(This description is provided by the company.)
Houston, Texas, based Crestwood Equity Partners LP is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood Equity is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
