Why Crestwood Equity Partners Units Rocketed 16% at the Open Today
Units of master limited partnership Crestwood Equity Partners (NYSE: CEQP) rose an impressive 16% out of the gate on July 17. The midstream energy player's price jump was driven by news released after the close on July 16, in which the partnership announced the date of its next earnings report -- and a whole lot more.
The date of Crestwood's next earnings report (Aug. 14, in case you were wondering) is pretty boring stuff. While it wouldn't be fair to say no one cares, it's certainly not enough to lead to a mid-teens price jump. However, the fact that the partnership maintained its dividend at the same level it paid in the first quarter was a notable bit of information, given that the U.S. energy industry is facing particularly difficult times today.
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Source Fool.com