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Surging Earnings Estimates Signal Good News for Crestwood Equity Partners (CEQP)

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Crestwood Equity Partners LP (CEQP - Free Report) offers a natural gas and storage business and crude oil services business that 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 Partners could be a solid choice for investors.

Current Quarter Estimates for CEQP

In the past 30 days, 3 estimates have gone higher for Crestwood Equity Partners while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 11 cents a share 30 days ago, to a gain of 20 cents today.

Current Year Estimates for CEQP

Meanwhile, Crestwood Equity Partners’ current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $2.46 per share 30 days ago to a loss of $2.19 per share today, an increase of 11%.

CRESTWOOD EQTY Price and Consensus



Bottom Line

The stock has also started to move higher lately, adding 5.2% 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. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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