Crestwood Preferred: Important - Every Shareholder Should Read This

Summary

  • This is an important notice for CEQP preferred shareholders.
  • The CEQP preferred shares are unique because they currently yield 9.2%, and they cannot be called!
  • Due to a change in the structure of CEQP, this can result in your preferred stock being called. Management of CEQP is trying to help out.
  • Action in form of a vote needs to be taken on your part to preserve the "non-callable feature."
  • The company also is paying you a small fee to vote for this, and preserve your right. Please vote yes!
  • Looking for a portfolio of ideas like this one? Members of High Dividend Opportunities get exclusive access to our model portfolio. Learn More »
Male hands holding craft envelope with text EXTRA INCOME on blue background
Photo by Anastasiia Makarevich/iStock via Getty Images

Co-produced with Beyond Saving

Crestwood Equity Partners LP (CEQP) is buying out the interest of their General Partner, First Reserve Fund XI, LP. This means that instead of a GP calling the shots, CEQP will have a publicly-elected board of directors. We view this

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This article was written by

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Rida Morwa is a former investment and commercial Banker, with over 35 years of experience. He has been advising individual and institutional clients on high-yield investment strategies since 1991.

Rida Morwa leads the Investing Group High Dividend Opportunities where he teams up with some of Seeking Alpha's top income investing analysts. The service focuses on sustainable income through a variety of high yield investments with a targeted safe +9% yield.

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Analyst’s Disclosure:I am/we are long CEQP.PR. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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