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Crestwood Equity Partners

DB:IY12
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IY12
DB
$331M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Crestwood Equity Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Crestwood Equity Partners has significant price volatility in the past 3 months.
IY12 Share Price and Events
7 Day Returns
11.2%
DB:IY12
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-86.5%
DB:IY12
34.4%
DE Oil and Gas
-14.2%
DE Market
IY12 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Crestwood Equity Partners (IY12) 11.2% -67.6% -85.4% -86.5% -83.5% -92.4%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • IY12 underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • IY12 underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
IY12
Industry
5yr Volatility vs Market

Value

 Is Crestwood Equity Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Crestwood Equity Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Crestwood Equity Partners.

DB:IY12 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:IY12
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.948 (1 + (1- 21%) (724.66%))
4.601
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:IY12 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Crestwood Equity Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:IY12 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 140.14 Est @ 1.15% 126.84
2021 188.16 Analyst x1 154.13
2022 189.45 Est @ 0.69% 140.45
2023 190.15 Est @ 0.37% 127.58
2024 190.41 Est @ 0.14% 115.63
2025 190.37 Est @ -0.02% 104.63
2026 190.12 Est @ -0.13% 94.57
2027 189.73 Est @ -0.21% 85.42
2028 189.23 Est @ -0.26% 77.10
2029 188.66 Est @ -0.3% 69.57
Present value of next 10 years cash flows $1,095.00
DB:IY12 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $188.66 × (1 + -0.39%) ÷ (10.49% – -0.39%)
$1,727.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,727.22 ÷ (1 + 10.49%)10
$636.97
DB:IY12 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,095.00 + $636.97
$1,731.97
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,731.97 / 73.16
$23.67
DB:IY12 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:IY12 represents 0.91814x of NYSE:CEQP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.91814x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 23.67 x 0.91814
€21.73
Value per share (EUR) From above. €21.73
Current discount Discount to share price of €4.15
= -1 x (€4.15 - €21.73) / €21.73
80.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Crestwood Equity Partners is available for.
Intrinsic value
>50%
Share price is €4.15 vs Future cash flow value of €21.73
Current Discount Checks
For Crestwood Equity Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Crestwood Equity Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Crestwood Equity Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Crestwood Equity Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Crestwood Equity Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:IY12 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $3.12
NYSE:CEQP Share Price ** NYSE (2020-04-07) in USD $4.52
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Crestwood Equity Partners.

DB:IY12 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CEQP Share Price ÷ EPS (both in USD)

= 4.52 ÷ 3.12

1.45x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crestwood Equity Partners is good value based on earnings compared to the Europe Oil and Gas industry average.
  • Crestwood Equity Partners is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Crestwood Equity Partners's expected growth come at a high price?
Raw Data
DB:IY12 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-137.4%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:IY12 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 1.45x ÷ -137.4%

-0.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crestwood Equity Partners earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Crestwood Equity Partners's assets?
Raw Data
DB:IY12 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $18.27
NYSE:CEQP Share Price * NYSE (2020-04-07) in USD $4.52
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:IY12 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CEQP Share Price ÷ Book Value per Share (both in USD)

= 4.52 ÷ 18.27

0.25x

* Primary Listing of Crestwood Equity Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crestwood Equity Partners is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Crestwood Equity Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Crestwood Equity Partners has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Crestwood Equity Partners expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-137.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Crestwood Equity Partners expected to grow at an attractive rate?
  • Crestwood Equity Partners's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Crestwood Equity Partners's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Crestwood Equity Partners's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:IY12 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:IY12 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -137.4%
DB:IY12 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -8.2%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:IY12 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:IY12 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 2,701 384 -20 3
2020-12-31 2,906 425 31 3
2020-04-08
DB:IY12 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 3,182 420 225
2019-09-30 3,111 331 244
2019-06-30 3,217 288 211
2019-03-31 3,374 236 -29
2018-12-31 3,654 254 -9
2018-09-30 4,133 229 -191
2018-06-30 4,158 283 -217
2018-03-31 4,168 346 -196
2017-12-31 3,881 256 -254
2017-09-30 3,429 330 -196
2017-06-30 3,061 286 -155
2017-03-31 2,813 271 -187

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Crestwood Equity Partners's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Crestwood Equity Partners's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:IY12 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Crestwood Equity Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IY12 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 1.78 1.78 1.78 1.00
2023-12-31 1.28 1.28 1.28 1.00
2022-12-31 0.26 0.26 0.26 1.00
2021-12-31 0.48 2.30 -0.84 7.00
2020-12-31 0.93 1.89 0.06 6.00
2020-04-08
DB:IY12 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 3.12
2019-09-30 3.37
2019-06-30 2.92
2019-03-31 -0.41
2018-12-31 -0.13
2018-09-30 -2.66
2018-06-30 -3.08
2018-03-31 -2.79
2017-12-31 -3.64
2017-09-30 -2.82
2017-06-30 -2.24
2017-03-31 -2.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Crestwood Equity Partners is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Crestwood Equity Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Crestwood Equity Partners has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Crestwood Equity Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Crestwood Equity Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Crestwood Equity Partners has delivered over 20% year on year earnings growth in the past 5 years.
  • Crestwood Equity Partners has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Crestwood Equity Partners has become profitable in the last year making it difficult to compare the Europe Oil and Gas industry average.
Earnings and Revenue History
Crestwood Equity Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Crestwood Equity Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IY12 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 3,181.90 225.00 239.40
2019-09-30 3,110.60 243.70 226.00
2019-06-30 3,217.20 210.70 220.40
2019-03-31 3,374.30 -29.30 221.30
2018-12-31 3,654.10 -9.30 213.90
2018-09-30 4,132.60 -190.90 226.30
2018-06-30 4,158.00 -217.10 229.20
2018-03-31 4,167.80 -196.00 230.80
2017-12-31 3,880.90 -254.40 232.50
2017-09-30 3,429.00 -195.90 231.20
2017-06-30 3,061.00 -155.40 224.60
2017-03-31 2,812.60 -187.10 241.60
2016-12-31 2,520.50 -245.00 243.40
2016-09-30 2,354.60 -1,576.90 229.50
2016-06-30 2,397.70 -1,793.80 260.20
2016-03-31 2,437.30 -1,782.60 260.80
2015-12-31 2,632.80 -1,673.10 306.50
2015-09-30 3,000.90 -220.20 321.40
2015-06-30 3,406.40 9.50 311.20
2015-03-31 3,691.20 45.10 307.30
2014-12-31 3,931.30 56.40 303.50
2014-09-30 3,742.30 26.30 270.70
2014-06-30 3,133.30 15.20 255.20
2014-03-31 2,325.90 21.20 212.20
2013-12-31 1,426.70 6.70 166.80
2013-09-30 686.00 0.60 120.10
2013-06-30 321.80 14.90 81.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Crestwood Equity Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Crestwood Equity Partners used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Crestwood Equity Partners has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Crestwood Equity Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Crestwood Equity Partners has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Crestwood Equity Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Crestwood Equity Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Crestwood Equity Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Crestwood Equity Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Crestwood Equity Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Crestwood Equity Partners Company Filings, last reported 3 months ago.

DB:IY12 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,359.00 2,328.50 25.70
2019-09-30 2,377.70 2,267.40 1.60
2019-06-30 2,402.80 2,131.40 2.10
2019-03-31 1,996.50 1,769.00 0.50
2018-12-31 2,033.80 1,753.30 0.90
2018-09-30 2,035.90 1,676.00 2.40
2018-06-30 2,092.00 1,561.90 6.10
2018-03-31 2,164.80 1,468.40 7.30
2017-12-31 2,180.50 1,492.20 1.30
2017-09-30 2,378.30 1,616.30 1.40
2017-06-30 2,436.60 1,614.00 2.30
2017-03-31 2,477.30 1,565.10 1.00
2016-12-31 2,539.00 1,523.70 1.60
2016-09-30 2,643.20 1,577.60 1.00
2016-06-30 2,681.40 1,582.50 0.90
2016-03-31 2,758.60 2,531.70 1.10
2015-12-31 2,946.90 2,502.90 0.50
2015-09-30 4,444.60 2,535.80 9.00
2015-06-30 5,110.20 2,520.50 1.30
2015-03-31 5,504.90 2,480.40 67.70
2014-12-31 5,584.50 2,396.50 8.80
2014-09-30 5,646.70 2,370.80 2.20
2014-06-30 5,637.10 2,292.10 18.20
2014-03-31 5,428.30 2,391.30 7.70
2013-12-31 5,508.60 2,270.30 5.20
2013-09-30 5,603.90 1,831.80 8.80
2013-06-30 5,356.00 1,875.60 2.70
  • Crestwood Equity Partners's level of debt (98.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (42.7% vs 98.7% today).
  • Debt is not well covered by operating cash flow (18.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Crestwood Equity Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Crestwood Equity Partners has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Crestwood Equity Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
55.31%
Current annual income from Crestwood Equity Partners dividends. Estimated to be 51.61% next year.
If you bought €2,000 of Crestwood Equity Partners shares you are expected to receive €1,106 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Crestwood Equity Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Crestwood Equity Partners's dividend is above the markets top 25% of dividend payers in Germany (4.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:IY12 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:IY12 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 2.25 2.00
2023-12-31 2.25 2.00
2022-12-31 2.38 4.00
2021-12-31 2.38 9.00
2020-12-31 2.30 9.00
2020-04-08
DB:IY12 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-21 2.500 38.654
2020-02-18 2.500 9.263
2019-10-17 2.400 7.668
2019-07-18 2.400 6.673
2019-04-18 2.400 6.689
2019-01-17 2.400 7.178
2018-10-18 2.400 7.715
2018-07-19 2.400 6.410
2018-04-19 2.400 7.717
2018-01-18 2.400 8.841
2017-10-19 2.400 9.733
2017-08-04 2.400 9.723
2017-08-01 2.400 9.283
2017-04-20 2.400 10.138
2017-01-18 2.400 9.128
2016-10-20 2.400 10.588
2016-08-04 2.400 11.484
2016-08-02 2.400 11.445
2016-04-22 2.400 12.072
2016-01-26 5.500 52.609
2015-10-23 5.500 29.801
2015-07-23 5.500 19.169
2015-04-23 5.500 11.376
2015-03-02 5.500 8.952
2015-02-24 5.500 8.605
2014-10-22 5.500 7.227
2014-07-24 5.500 4.751
2014-04-24 5.500 3.871
2014-01-23 5.500 4.077
2013-10-24 5.400 3.819
2013-08-08 5.200 3.755
2013-07-25 5.200 3.352

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Crestwood Equity Partners has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Crestwood Equity Partners has only been paying a dividend for 7 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Crestwood Equity Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • The company is expected to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not expected to be well covered.
X
Income/ dividend checks
We assess Crestwood Equity Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Crestwood Equity Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Crestwood Equity Partners has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Crestwood Equity Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bob Phillips
COMPENSATION $9,065,297
AGE 64
TENURE AS CEO 6.8 years
CEO Bio

Mr. Robert G. Phillips, also known as Bob, served as Director at Bonavista Energy Corporation since May 2014 until March 12, 2020. He was appointed as Chairman, President and Chief Executive Officer Crestwood Midstream GP LLC in June 2013. He served as Chairman, President and CEO of Legacy Crestwood from November 2007 until October 2013. Previously, Mr. Phillips served as Director at Enterprise Products Partners L.P. from February 2005 until June 2007 and Chief Operating Officer and Director at Enterprise Products Partners L.P. from September 2004 until February 2005. Mr. Phillips is the Chairman, President and Chief Executive Officer of Crestwood Equity GP LLC, a general partner of Crestwood Equity Partners LP since June 2013. He serves as Chief Executive Officer, President and Chairman at Crestwood Midstream Partners, LLC since November 2007. Mr. Phillips also served on the Board of Directors of Enterprise GP Holdings L.P., the general Partner of Enterprise Products Partners L.P., from February 2006 until April 2007. Prior to Crestwood, Mr. Phillips held various management positions including President and Chief Executive Officer at Enterprise Products Partners L.P., and El Paso Corporation. He previously served as Chairman of the Board and CEO of GulfTerra Energy Partners, L.P. (GTM), from 1999-2004. Prior to that he was Chairman, President and CEO of Eastex Energy, Inc. from 1981-1995. Mr. Phillips previously served as a Director of Pride International, Inc. from October 2007 to May 2011. Mr. Phillips holds a B.B.A. from The University of Texas at Austin and a Juris Doctorate from South Texas College of Law.

CEO Compensation
  • Bob's compensation has increased in line with Crestwood Equity Partners recently becoming profitable.
  • Bob's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Crestwood Equity Partners management team in years:

5.8
Average Tenure
48
Average Age
  • The average tenure for the Crestwood Equity Partners management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bob Phillips

TITLE
Chairman
COMPENSATION
$9M
AGE
64
TENURE
6.8 yrs

Robert Halpin

TITLE
Executive VP & CFO of Crestwood Equity GP LLC
COMPENSATION
$4M
AGE
35
TENURE
5.1 yrs

Steve Dougherty

TITLE
Executive VP & Chief Accounting Officer of Crestwood Equity GP LLC
COMPENSATION
$3M
AGE
46
TENURE
6.5 yrs

Joel Lambert

TITLE
Executive VP
COMPENSATION
$3M
AGE
50
TENURE
6.5 yrs

Will Moore

TITLE
Executive Vice President of Corporate Strategy of Crestwood Equity GP LLC
COMPENSATION
$3M
AGE
39
TENURE
0.3 yrs

Josh Wannarka

TITLE
Vice President of Investor Relations

Joanne Howard

TITLE
Director of Sustainability & Corporate Communications

John Powell

TITLE
Senior VP & Chief Commercial Officer of MSL

Bill Gautreaux

TITLE
President & CMO of Supply & Logistics Group - Crestwood Equity GP LLC
COMPENSATION
$1M
AGE
56
TENURE
4.8 yrs

Michael Post

TITLE
Vice President
Board of Directors Tenure

Average tenure and age of the Crestwood Equity Partners board of directors in years:

4.4
Average Tenure
64
Average Age
  • The tenure for the Crestwood Equity Partners board of directors is about average.
Board of Directors

Bob Phillips

TITLE
Chairman
COMPENSATION
$9M
AGE
64
TENURE
6.8 yrs

Al Bledsoe

TITLE
Independent Director of Crestwood Equity GP LLC
COMPENSATION
$227K
AGE
71
TENURE
6.5 yrs

Warren Gfeller

TITLE
Lead Director of Crestwood Equity GP LLC
COMPENSATION
$234K
AGE
67

David Lumpkins

TITLE
Independent Director of Crestwood Equity GP LLC
COMPENSATION
$224K
AGE
64
TENURE
4.4 yrs

John Sherman

TITLE
Director of Crestwood Equity GP LLC
COMPENSATION
$204K
AGE
64
TENURE
19.1 yrs

Janeen Judah

TITLE
Independent Director of Crestwood Equity GP LLC
COMPENSATION
$224K
AGE
59
TENURE
1.4 yrs

Gary Reaves

TITLE
Director of Crestwood Equity GP LLC
COMPENSATION
$111K
AGE
39
TENURE
1.3 yrs

Will Brown

TITLE
Director of Crestwood Equity GP LLC
COMPENSATION
$95K
AGE
37
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
02. Aug 19 Sell Joel Lambert Individual 31. Jul 19 31. Jul 19 -30,000 €33.58 €-1,007,308
X
Management checks
We assess Crestwood Equity Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Crestwood Equity Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Crestwood Equity Partners LP provides infrastructure solutions to liquids-rich natural gas and crude oil shale plays in the United States. It operates through three segments: Gathering and Processing (G&P); Storage and Transportation (S&T); and Marketing, Supply and Logistics (MS&L). The G&P segment offers gathering and transportation services for natural gas, crude oil, and produced water; and processing, treating, and compression services for natural gas. The S&T segment provides crude oil and natural gas storage and transportation services to producers, utilities, and other customers. The MS&L segment offers natural gas liquid (NGL), crude oil, and natural gas marketing, storage, and transportation services to producers, refiners, marketers, and other customers. The company owns and operates natural gas facilities with approximately 3.3 billion cubic feet of natural gas/day (Bcf/d) of gathering capacity and 1.0 Bcf/d of processing capacity; with approximately 2.6 MMBbls of storage capacity, as well as portfolio of transportation assets with a capacity of transporting approximately 1.3 MBbls/day of NGLs; and crude oil facilities with approximately 150,000 Bbls/d of gathering capacity, 1.9 million barrels of storage capacity, 20,000 Bbls/d of transportation capacity, and 180,000 Bbls/d of rail loading capacity. It also has ownership interests in natural gas facilities with approximately 3.3 Bcf/d of gathering capacity, 1.0 Bcf/d of processing capacity, 75.8 Bcf of certificated working storage capacity, and 1.8 Bcf/d of transportation capacity; and crude oil facilities with approximately 1.9 MMBbls of working storage capacity. Crestwood Equity GP LLC serves as the general partner of Crestwood Equity Partners LP. The company was formerly known as Inergy L.P. and changed its name to Crestwood Equity Partners LP in October 2013. Crestwood Equity Partners LP was founded in 2001 and is headquartered in Houston, Texas.

Details
Name: Crestwood Equity Partners LP
IY12
Exchange: DB
Founded: 2001
$305,802,629
73,164,755
Website: http://www.crestwoodlp.com
Address: Crestwood Equity Partners LP
811 Main Street,
Suite 3400,
Houston,
Texas, 77002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CEQP Common Units New York Stock Exchange US USD 20. Jun 2013
DB IY12 Common Units Deutsche Boerse AG DE EUR 20. Jun 2013
NYSE CEQP.PR 9.25% PFD UNIT New York Stock Exchange US USD 10. Apr 2017
Number of employees
Current staff
Staff numbers
899
Crestwood Equity Partners employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 04:28
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2020/02/21
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.