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Are Institutional Investors Bearish on Crestwood Equity Partners?

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Recent institutional activity for CEQP

Let’s look now at the institutional activity in Crestwood Equity Partners (CEQP) during the first quarter. Among the top institutional holders in CEQP, 1.2 million positions were sold. Brookfield Investment Management and Perella Weinberg Partners Capital Management were the biggest buyers of CEQP in the first quarter. They added 1 million and 0.5 million positions, respectively. Center Coast Capital Advisors and Cushing Asset Management were the biggest sellers. They sold 0.7 million and 0.6 million positions, respectively.

Why institutional investors are bearish on CEQP

Institutional investors’ bearishness toward CEQP could be attributed to the following factors:

  • high valuation
  • weakness in its Storage and Transportation segment and its Marketing, Supply, and Logistics segment
  • low expansion opportunities

Top five holders

First Reserve Corporation, OFI SteelPath, UBS Financial Services, Kayne Anderson Capital Advisors, and Cushing Asset Management are the top five institutional holders in CEQP. First Reserve Corporation is the top institutional holder, currently holding 24.4% of CEQP.

In the next part, we’ll take a look at Crestwood Equity Partners’ current valuation.

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