Analysts Set CNX Midstream Partners LP (CNXM) PT at $21.50

CNX Midstream Partners LP (NYSE:CNXM) has earned an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.50.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of CNX Midstream Partners from a “buy” rating to a “sell” rating in a report on Tuesday, February 5th. ValuEngine downgraded shares of CNX Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Wells Fargo & Co downgraded shares of CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. downgraded shares of CNX Midstream Partners from an “overweight” rating to a “neutral” rating and cut their price target for the company from $24.00 to $20.00 in a report on Tuesday, February 5th. Finally, Robert W. Baird downgraded shares of CNX Midstream Partners from an “outperform” rating to a “neutral” rating and cut their price target for the company from $25.00 to $18.00 in a report on Thursday, March 7th. They noted that the move was a valuation call.

In other CNX Midstream Partners news, Chairman N J. Deiuliis bought 6,100 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was purchased at an average cost of $16.30 per share, for a total transaction of $99,430.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in shares of CNX Midstream Partners by 18.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock worth $86,000 after purchasing an additional 850 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of CNX Midstream Partners during the 3rd quarter worth about $171,000. Tortoise Index Solutions LLC boosted its stake in shares of CNX Midstream Partners by 101.6% during the 4th quarter. Tortoise Index Solutions LLC now owns 9,326 shares of the pipeline company’s stock worth $152,000 after purchasing an additional 4,700 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of CNX Midstream Partners during the 4th quarter worth about $161,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of CNX Midstream Partners during the 4th quarter worth about $177,000. 53.02% of the stock is currently owned by institutional investors.

Shares of CNXM traded up $0.28 during trading hours on Monday, reaching $15.33. The company had a trading volume of 228,951 shares, compared to its average volume of 336,589. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $975.79 million, a PE ratio of 8.11, a P/E/G ratio of 0.53 and a beta of 1.29. CNX Midstream Partners has a 12-month low of $13.86 and a 12-month high of $21.00.

CNX Midstream Partners (NYSE:CNXM) last announced its quarterly earnings results on Thursday, January 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.13. The business had revenue of $70.82 million during the quarter, compared to the consensus estimate of $65.90 million. CNX Midstream Partners had a net margin of 52.22% and a return on equity of 32.52%. On average, research analysts anticipate that CNX Midstream Partners will post 2.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.3732 per share. This is an increase from CNX Midstream Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 9.74%. The ex-dividend date of this dividend is Friday, May 3rd. CNX Midstream Partners’s dividend payout ratio (DPR) is 76.19%.

About CNX Midstream Partners

CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. The company operates through two segments, Anchor Systems and Additional Systems. As of December 31, 2018, the company operated 14 compression and dehydration facilities.

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Analyst Recommendations for CNX Midstream Partners (NYSE:CNXM)

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