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Last $7.39 USD
Change Today -0.21 / -2.76%
Volume 534.0K
CMLP On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

crestwood midstream partners (CMLP) Snapshot

Open
$7.53
Previous Close
$7.60
Day High
$7.67
Day Low
$7.39
52 Week High
09/19/14 - $23.75
52 Week Low
08/26/15 - $6.98
Market Cap
1.4B
Average Volume 10 Days
906.0K
EPS TTM
$-0.14
Shares Outstanding
188.3M
EX-Date
08/5/15
P/E TM
--
Dividend
$1.64
Dividend Yield
22.19%
Current Stock Chart for CRESTWOOD MIDSTREAM PARTNERS (CMLP)

crestwood midstream partners (CMLP) Related Businessweek News

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crestwood midstream partners (CMLP) Details

Crestwood Midstream Partners LP provides gathering, processing, storage, and transportation solutions to customers in the crude oil, natural gas liquids (NGL), and natural gas sectors of the energy industry in the United States. The company operates through three segments: Gathering and Processing, Storage and Transportation, and NGL and Crude Services. The Gathering and Processing segment provides natural gas gathering, processing, treating, compression, transportation, sale, and delivery services of NGLs to producers in unconventional shale plays and tight-gas plays in West Virginia, Wyoming, Texas, Arkansas, New Mexico, and Louisiana. This segment owns and controls natural gas facilities with approximately 2.5 billion cubic feet of natural gas/per day (Bcf/d) of gathering capacity; 481 million cubic feet of natural gas/per day of processing capacity; 1.1 Bcf/d of firm transmission capacity; and 41 Bcf of certified working gas storage capacity. The Storage and Transportation segment offers regulated natural gas storage and transportation services to producers, utilities, marketers, and other customers. It primarily includes natural gas storage and natural gas transmission facilities in New York and Pennsylvania. This segment’s facilities provide 41 Bcf of storage capacity and approximately 1.0 Bcf/d of transportation capacity. The NGL and Crude Services segment provides NGLs and crude oil gathering, storage, marketing, and transportation services to customers in or near unconventional shale plays in North Dakota and New York. It operates crude oil gathering systems and rail terminals, as well as NGL storage facilities; and offers integrated supply and logistics solutions. This segment owns natural gas liquids facilities with approximately 1.7 million barrels of storage capacity. Crestwood Midstream Partners LP is headquartered in Houston, Texas.

130 Employees
Last Reported Date: 03/2/15

crestwood midstream partners (CMLP) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

crestwood midstream partners (CMLP) Key Developments

Energy Transfer Reportedly To Buy Stake In Eureka Hunter

Energy Transfer Equity, L.P. (NYSE:ETE) is making a bid to acquire a stake of Magnum Hunter Resources Corp. (NYSE:MHR) in Eureka Hunter Pipeline, LLC, Bloomberg reports citing people with knowledge of the matter. Magnum Hunter began working with Bank of Montreal to auction off its stake in Eureka after Energy Transfer made an unsolicited offer for the assets earlier this year. Magnum Hunter has since reached out to Crestwood Midstream Partners LP (NYSE:CMLP) and Summit Midstream Partners, LP (NYSE:SMLP) to gauge their interest in Eureka, said the people familiar with the matter, who asked not to be identified because the information is private. Magnum Hunter began working with the Bank of Montreal (TSX:BMO) to auction its stake in Eureka Hunter after Energy Transfer made an unsolicited offer for the assets earlier this year.

Crestwood Midstream Partners LP Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Unaudited Consolidated Goodwill Impairment for the Second Quarter Ended June 30, 2015; provides production guidance for 2016

Crestwood Midstream Partners LP reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's revenues were $478.4 million against $675.7 million a year ago. Operating income was $2.6 million against $42.3 million a year ago. Loss before income taxes was $42.1 million against income of $11.8 million a year ago. Net loss was $42.2 million against income of $11.7 million a year ago. Net loss attributable to Crestwood Midstream Partners LP was $47.9 million or $0.33 basic and diluted per share against income of $8.0 million a year ago. Net loss attributable to partners was $55.4 million against income of $6.9 million a year ago. EBITDA was $68.2 million against $95.7 million a year ago. Adjusted EBITDA was $125.4 million against $109.7 million a year ago. Maintenance capital expenditures was $3.5 million against $4.7 million a year ago. Net cash provided by operating activities was $70.9 million against $43.4 million a year ago. For the six months, the company's revenues were $933.5 million against $1,212.7 million a year ago. Operating income was $51.1 million against income of $76.7 million a year ago. Loss before income taxes was $20.1 million against income of $18.0 million a year ago. Net loss was $20.5 million against income of $17.2 million a year ago. Net loss attributable to Crestwood Midstream Partners LP was $31.8 million or $0.34 basic and diluted per share against income of $10.4 million or $0.03 basic and diluted per share a year ago. Net loss attributable to partners was $48.5 million against income of $9.3 million a year ago. EBITDA was $180.0 million against $180.8 million a year ago. Adjusted EBITDA was $250.1 million against $208.6 million a year ago. Maintenance capital expenditures was $6.2 million against $7.4 million a year ago. Net cash provided by operating activities was $147.9 million against $111.1 million a year ago. For the quarter, the company's goodwill impairment was $40.2 million. Crestwood Midstream’s Antero volumes well above the 450 MMcf/d minimum volume commitment for 2016.

Faruqi & Faruqi, LLP Files Class Action Lawsuit Against Crestwood Midstream Partners LP

Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of Texas, Houston Division, case no. 4:15-cv-2101, on behalf of unitholders of Crestwood Midstream Partners LP who held (and continue to hold) Crestwood Midstream securities acquired on or before May 5, 2015. On May 5, 2015, the Company entered into a Purchase Agreement and Plan of Merger (Merger Agreement) under which Crestwood Equity Partners LP will acquire all of the outstanding units of Crestwood Midstream through a newly formed subsidiary of Crestwood Equity. The unit-for-unit transaction is valued at approximately $7.5 billion. The transaction and vote are expected to occur in the third quarter of 2015. The complaint charges Crestwood Midstream Partners LP, its Board of Directors, Crestwood Equity Partners LP, and affiliated corporate entities and individuals with violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (Exchange Act). The complaint alleges that the S-4 Registration Statement (the "S-4") filed with the Securities and Exchange Commission ("SEC") on June 17, 2015 provided materially incomplete and misleading disclosures, thereby violating Sections 14(a) and 20(a) of the Exchange Act. The Registration Statement denies Crestwood Midstream's unitholders material information concerning the financial and procedural fairness of the Merger. The complaint also alleges that 2.75 units of Crestwood Equity for each unit of Crestwood Midstream is an inadequate exchange ratio, as Crestwood Midstream has experienced significant growth in recent months and has consistently exceeded management's revenue and earnings expectations. The offer price also fails to adequately value Crestwood Midstream's prospects for future growth.

 

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Industry Analysis

CMLP

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Valuation CMLP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 2.1x
Price/Book 1.4x
Price/Cash Flow 9.0x
TEV/Sales NM Not Meaningful
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