Crestwood Equity Partners LP (NYSE: CEQP) shares rose in value in early trading today on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks opened significantly lower in early trading. The Dow Jones Industrial Average was 58 points lower, or 0.29% to 19895, the S&P 500 fell 7 points, or 0.28% to 2268, while the Nasdaq dropped 22 points, or 0.38% to 5542.
Analysts at Raymond James Financial, Inc. upgraded shares of Crestwood Equity Partners LP (NYSE: CEQP) from Market Perform to Outperform today. With a rating of Outperform on the shares, Crestwood Equity Partners LP has a 52-week high of $27.40. A number of other analysts have spoken on the stock in recent days, and Crestwood Equity Partners LP has earned a consensus one-year price target of $22.88, a decrease compared to the opening price of $26.50, a difference of 8.83 percent. Share prices sometimes get a jump to the upside when analysts upgrade a stock.
Yesterday Crestwood Equity Partners LP (NYSE: CEQP) shares last traded at $25.90, an increase of $0.05 from the previous closing price. Opening at $26.50, they fluctuated from $25.90 and $26.50 throughout the day.
Crestwood Equity Partners LP (NYSE: CEQP) now has a market cap of 1.79B.
Crestwood Equity Partners LP (NYSE: CEQP) Average Daily Trading Volume
42,204 shares crossed the trading desk yesterday, 15 percent below normal, out of a total float 46,319,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Crestwood Equity Partners LP (NYSE: CEQP) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Crestwood Equity Partners LP (NYSE: CEQP) now has a 50-day MA of $24.00 and 200-day MA of $21.54. It has traded in a 52-week range between $7.90 – 27.40 and today’s last price is 5.47%% lower than the 52 week high of $27.40.
Earnings growth is a crucial factor to research when buying stocks and investors seek companies that have been successful at growing their earnings at least 25% or more over the past 3 years.
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