Shares of Cone Midstream Partners LP (NYSE:CNNX) have been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $23.29.
CNNX has been the subject of a number of recent research reports. ValuEngine downgraded shares of Cone Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Cone Midstream Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Barclays PLC upgraded shares of Cone Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research note on Tuesday, July 18th. Bank of America Corporation lowered their target price on shares of Cone Midstream Partners from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. Finally, Robert W. Baird restated a “buy” rating and set a $24.00 target price on shares of Cone Midstream Partners in a research note on Thursday, September 21st.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Cone Midstream Partners by 106.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,001,411 shares of the pipeline company’s stock valued at $23,643,000 after buying an additional 515,457 shares in the last quarter. Marshall Wace North America L.P. lifted its stake in shares of Cone Midstream Partners by 341.5% during the 2nd quarter. Marshall Wace North America L.P. now owns 234,851 shares of the pipeline company’s stock valued at $4,462,000 after buying an additional 181,654 shares in the last quarter. Franklin Square Holdings L.P. purchased a new position in shares of Cone Midstream Partners during the 1st quarter valued at $385,000. MARSHALL WACE ASIA Ltd purchased a new position in shares of Cone Midstream Partners during the 1st quarter valued at $1,277,000. Finally, Naples Global Advisors LLC lifted its stake in shares of Cone Midstream Partners by 10.4% during the 2nd quarter. Naples Global Advisors LLC now owns 21,225 shares of the pipeline company’s stock valued at $402,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 36.98% of the company’s stock.
Cone Midstream Partners (CNNX) traded down 0.746% during midday trading on Wednesday, hitting $16.506. The company’s stock had a trading volume of 21,535 shares. Cone Midstream Partners has a 12 month low of $15.77 and a 12 month high of $25.56. The company’s 50 day moving average price is $17.13 and its 200 day moving average price is $19.50. The firm has a market cap of $568.17 million, a P/E ratio of 9.884 and a beta of 1.63.
Cone Midstream Partners (NYSE:CNNX) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Cone Midstream Partners had a net margin of 45.95% and a return on equity of 14.15%. The firm had revenue of $56.50 million during the quarter, compared to the consensus estimate of $60.15 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts expect that Cone Midstream Partners will post $1.71 EPS for the current year.
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About Cone Midstream Partners
CONE Midstream Partners LP is a master limited partnership formed by CONSOL Energy Inc (CONSOL) and Noble Energy, Inc (Noble Energy). The Company owns, operates, develops and acquires natural gas gathering and other midstream energy assets to service CONSOL’s and Noble Energy’s production in the Marcellus Shale in Pennsylvania and West Virginia.
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