Key Highlights from Crestwood Equity Partners’s 4Q16 Earnings
Short interest in Crestwood Equity Partners (CEQP) as percentage of float ratio has come down to 1.1%.
Blackstone Group (BX) stock has risen 16% over the past three months on improved performance across its subsegments, high growth in 4Q16, and rising holdings valuations.
Blackstone’s (BX) valuation stands at 9.5x on a one-year forward earnings basis, while its peers are trading at an average of 9.1x.
Blackstone’s (BX) hedge funds generated 2.3% growth in its portfolio in 4Q16, as well as 6.7% growth over the past three quarters after its weak performance in 1Q16.
The Blackstone Group’s (BX) Credit division posted strong revenue growth to $258.6 million in 4Q16, compared to $22.7 million in 4Q15.
The Blackstone Group (BX) garnered realizations of $3.5 billion in 4Q16, reflecting a year-over-year rise in improved valuations.
The Blackstone Group (BX) has raised $16.9 billion toward its private equity offerings in 2016.
The Blackstone Group (BX), the world’s largest alternative asset manager, is expected to see earnings per share of $0.73 in 1Q17, compared to EPS of $0.68 in 4Q16 and $0.31 in 1Q16.
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The correlation coefficient between Schlumberger’s stock price and crude oil prices from February 2016 to the present is 0.48.
On February 21, Schlumberger’s implied volatility was ~16%. Since its 4Q16 results on January 20, its implied volatility fell from 17% to the current level.
Short interest in Schlumberger, as a percentage of its float, is 1.2% as of February 21, 2017. It remained nearly unchanged compared to December 30, 2016.
Schlumberger’s valuation, expressed as the trailing 12-month PE (price-to-earnings) multiple, isn’t meaningful as a result of negative adjusted earnings.
Schlumberger’s historical valuation increased sharply from 2015 to 2016. Schlumberger’s net debt increased sharply, while its stock price also increased.
From February 2015 to February 2017, Schlumberger’s (SLB) stock price was at its highest level in April 2015. Since then, its stock price fell nearly 15%.
The short interest in Williams Companies (WMB) as a percentage of float ratio has come down to 1.4%. This ratio is lower compared to the 2016 average of 2.8%.
WMB’s valuation has picked up since the merger termination with Energy Transfer Equity (ETE) and a few key announcements in recent months.
The number of holders in WMB has fallen to 921 as of February 20, 2017, compared to 1,215 at the end of 2015.
Williams Companies (WMB) is currently trading 4.7% below its 50-day simple moving average and 4.2% above its 200-day simple moving average.