Crestwood Equity Partners LP CEQP stock declined a marginal 0.4% since it reported lower-than-expected quarterly results, which can be attributed to higher operating expenses. The negatives were partially offset by higher gas gathering and processing volumes.The partnership reported third-quarter 2022 adjusted earnings of 10 cents per unit, missing the Zacks Consensus Estimate of 32 cents. The bottom line fared better than the year-ago adjusted loss of 29 cents per unit.Total quarterly revenues surged to $1,566 million from $1,226 million in the prior-year quarter. The top line, however, missed the Zacks Consensus Estimate of $1,632 million.Crestwood Equity Partners LP Price, Consensus and EPS Surprise Crestwood Equity Partners LP price-consensus-eps-surprise-chart | Crestwood Equity Partners LP QuoteSegmental PerformanceGathering and Processing North: The segment of Crestwood Equity generated earnings before interest, taxes, depreciation and amortization (EBITDA) of $157.2 million, up from $106.4 million in the year-ago quarter. Operating and maintenance expenses increased to $27.4 million from $14.1 million.Total gas gathering volumes in the quarter were 369.0 million cubic feet per day (MMcf/d), up from 241.2 MMcf/d a year ago. Gathering volumes increased in the Williston Basin and the Powder River Basin. Total processing volumes increased to 403.2 MMcf/d from the year-ago level of 228.9 MMcf/d.Gathering and Processing South: The segment of Crestwood Equity incurred a loss of $47.3 million against a profit of $6.5 million in the year-ago quarter. Operating and maintenance expenses increased to $14.3 million from $5.4 million.Total gas gathering volumes in the quarter were 715.1 MMcf/d, down from 734 MMcf/d a year ago. Gathering volumes declined in Marcellus, while the same rose in Delaware. Total processing volumes increased to 418.6 MMcf/d from the year-ago level of 180.5 MMcf/d.Storage and Logistics: Crestwood Equity generated earnings of $16.9 million, turning around from a loss of $31.1 million in the year-ago quarter. Operating and maintenance expenses of $13.3 million increased from the year-ago quarter’s $12.1 million.NGL volumes sold or processed in the third quarter were 112.8 MBbls/d, down from 151.2 MBbls/d in the year-ago period.ExpensesTotal operating expenses and others increased to $276.4 million from $140.6 million in the year-ago period.General and administrative expenses jumped to $33.9 million in the September quarter from $25.9 million in third-quarter 2021. Also, operation and maintenance costs increased to $55 million from $31.6 million a year ago.Cash FlowDistributable cash flow attributable to CEQP common in the third quarter was $131 million, up from $85.8 million in the year-ago period.Free cash flow after distributions was $3.4 million in the September quarter, down from $17.5 million in the year-ago period.Balance SheetAs of Sep 30, 2022, Crestwood Equity had $6.4 million in cash. Total debt was $3,570 million at the third-quarter end.Zacks Rank & Stocks to ConsiderCrestwood Equity currently carries a Zacks Rank #3 (Hold). Better-ranked players in the same space include Magellan Midstream Partners MMP, Oil States International, Inc. OIS and BP plc BP. All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Being a midstream energy player, Magellan Midstream’s business model is less exposed to volatility in oil and gas prices. In fact, contributions from core fee-based transportation and terminals activities have aided MMP’s results in the third quarter of this year.Oil States International has a constant focus on capital and cost discipline. Owing to this discipline amid improving industry fundamentals, Oil States International is witnessing increasing revenues and EBITDA. The company is also witnessing improvement in its Well Site Services segment, thanks to increased land-based completion and production activity.The sizable refining and marketing operations of BP provides significant protection to the company from low commodity prices. The company is also focused on the reduction of net debt load. For 2022, BP is likely to witness earnings growth of 138.2%. FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump. And that appeal is why the metaverse can provide such massive gains for investors. But do you know where to look? Do you know which metaverse stocks to buy and which to avoid? 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