Crestwood Equity Partners LP [NYSE:CEQP] prices rallied 9.24% on Thursday.
With a current price of $14.43, CEQP is active in the Oil & Gas Midstream industry and it looks to be on-track for a five-day run of 20.35%.
In addition, CEQP’s high over the last year is $37.01 and the low is $2.65. Over the last two 52 weeks, the company is trading -58.79%, while the S&P 500 is trading 0.79%.
The Price is right
Holding a Market Cap of $1.05 billion, Crestwood Equity Partners LP has seen a trading range over the last year of $2.65-$37.01.
For the last five days, CEQP is up from its last closing price. The average shares trading hands each day is 780.26K.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for CEQP. When we apply the Elder Force Index to Crestwood Equity Partners LP, we are seeing an Elder Force Indicator number of 1249056.74.
Recent Performance
The recent performance of the stock is another area that can tell traders how to proceed. CEQP is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 901.88.
In the last quarter, CEQP made a profit of 127.0 million. Crestwood Equity Partners LP also saw quarter revenue growth year over year of -11.51%.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 13.02 compared to the 50-day moving average of 5.54%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. CEQP currently holds a 9-day RSI of 72.22%, while 100-day RSI stands at 47.78%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. CEQP’s 9-day MACD is 0.80 and the company’s 100-day MACD stands at -0.35.
Inside Moves
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 7.38% by insiders and 71.97% by institutions.
Conclusion
Overall, the recommended rating for CEQP is Moderate Buy. Currently, the company has 7 analysts watching the stock, and the average quarterly earnings estimate is -0.06. Quarterly revenue estimates are averaging 602.87M with the high estimate reaching 702.75M and the low at 489.7M.
To review, the current 1-year target estimate is sitting at 15.00, while the current price 14.43. Based on this, we expect the stock to rise considering the aforementioned fundamentals.
