CNX Midstream Partners (CNXM) Raised to “Hold” at ValuEngine

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ValuEngine upgraded shares of CNX Midstream Partners (NYSE:CNXM) from a sell rating to a hold rating in a research report report published on Thursday.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of CNX Midstream Partners from a sell rating to a hold rating and set a $20.00 price target for the company in a research note on Wednesday, October 31st. Wells Fargo & Co dropped their price target on shares of CNX Midstream Partners from $28.00 to $24.00 and set an outperform rating for the company in a research note on Thursday, November 1st. Finally, Mitsubishi UFJ Financial Group began coverage on shares of CNX Midstream Partners in a research note on Friday, October 5th. They issued an overweight rating and a $24.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $23.75.

CNX Midstream Partners stock opened at $18.00 on Thursday. CNX Midstream Partners has a fifty-two week low of $16.55 and a fifty-two week high of $21.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market capitalization of $1.15 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.73 and a beta of 1.56.

CNX Midstream Partners (NYSE:CNXM) last posted its earnings results on Tuesday, October 30th. The pipeline company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. CNX Midstream Partners had a net margin of 47.87% and a return on equity of 23.69%. The firm had revenue of $60.97 million during the quarter, compared to the consensus estimate of $64.72 million. During the same quarter last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that CNX Midstream Partners will post 1.77 EPS for the current year.

In other CNX Midstream Partners news, major shareholder Nbl Midstream, Llc sold 14,217,198 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $17.75, for a total value of $252,355,264.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several large investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its stake in shares of CNX Midstream Partners by 8.1% in the second quarter. GSA Capital Partners LLP now owns 46,791 shares of the pipeline company’s stock worth $907,000 after acquiring an additional 3,506 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of CNX Midstream Partners by 23.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 19,050 shares of the pipeline company’s stock worth $367,000 after purchasing an additional 3,650 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of CNX Midstream Partners during the 3rd quarter worth $171,000. EJF Capital LLC lifted its position in shares of CNX Midstream Partners by 40.0% during the 2nd quarter. EJF Capital LLC now owns 35,000 shares of the pipeline company’s stock worth $679,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of CNX Midstream Partners during the 2nd quarter worth $216,000. Institutional investors and hedge funds own 52.33% of the company’s stock.

CNX Midstream Partners Company Profile

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. As of December 31, 2017, the company operates 18 compression and dehydration facilities. It also operates condensate handling facilities with handling capacities of 2,500 Bbl/d each in Majorsville, Pennsylvania, as well as Moundsville, West Virginia that provide condensate gathering, collection, separation, and stabilization services.

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Analyst Recommendations for CNX Midstream Partners (NYSE:CNXM)

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