Crestwood Equity Partners LP CEQP saw a big move last session, as the company’s shares fell by over 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for CEQP, as the stock is now down nearly 25% in the past one-month time frame.
Although this slump was obviously disappointing, the current year loss estimate has narrowed over the past few weeks for this Oil/Gas Production Pipeline MLP. This suggests that the recent slump might be a temporary blip on the radar for CEQP. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
CEQP currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00.
Shell Midstream Partners, L.P. SHLX is a better-ranked stock in the same industry, sporting a Zacks Rank #1 (Strong Buy).
Is CEQP going up? Or down? Predict to see what others think:
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