Cone Midstream Partners LP (CNNX) Stock Rating Reaffirmed by RBC Capital Markets

Cone Midstream Partners LP (NYSE:CNNX)‘s stock had its “buy” rating reaffirmed by equities research analysts at RBC Capital Markets in a research note issued to investors on Friday. They currently have a $26.00 price target on the stock. RBC Capital Markets’ price target would indicate a potential upside of 10.12% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company upgraded Cone Midstream Partners from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 5th. Zacks Investment Research lowered Cone Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Credit Suisse Group lowered Cone Midstream Partners from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, September 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $20.36.

Analyst Recommendations for Cone Midstream Partners (NYSE:CNNX)

Cone Midstream Partners (NYSE:CNNX) opened at 23.61 on Friday. The stock’s 50 day moving average price is $22.32 and its 200-day moving average price is $19.48. The company has a market capitalization of $1.38 billion, a P/E ratio of 14.95 and a beta of 1.70. Cone Midstream Partners has a 12 month low of $7.55 and a 12 month high of $24.71.

Cone Midstream Partners (NYSE:CNNX) last announced its earnings results on Friday, November 4th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $60.73 million for the quarter, compared to analyst estimates of $57.89 million. Cone Midstream Partners had a return on equity of 11.33% and a net margin of 39.18%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. On average, equities research analysts predict that Cone Midstream Partners will post $1.59 EPS for the current fiscal year.

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In other news, Director Angela A. Minas acquired 5,000 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $110,000.00. Following the acquisition, the director now owns 22,733 shares of the company’s stock, valued at $500,126. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Several institutional investors have recently bought and sold shares of the company. Allianz Asset Management AG boosted its stake in shares of Cone Midstream Partners by 5,896.4% in the second quarter. Allianz Asset Management AG now owns 803,220 shares of the company’s stock valued at $13,928,000 after buying an additional 789,825 shares in the last quarter. UBS Group AG boosted its stake in shares of Cone Midstream Partners by 74.6% in the third quarter. UBS Group AG now owns 1,145,778 shares of the company’s stock valued at $20,739,000 after buying an additional 489,520 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Cone Midstream Partners by 11.1% in the third quarter. Global X Management Co. LLC now owns 632,927 shares of the company’s stock valued at $11,456,000 after buying an additional 63,264 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in shares of Cone Midstream Partners by 5.1% in the third quarter. Spirit of America Management Corp NY now owns 856,753 shares of the company’s stock valued at $15,507,000 after buying an additional 41,900 shares in the last quarter. Finally, Guggenheim Capital LLC bought a new stake in shares of Cone Midstream Partners during the second quarter valued at $381,000. Hedge funds and other institutional investors own 43.81% of the company’s stock.

Cone Midstream Partners Company Profile

CONE Midstream Partners LP is a master limited partnership formed between 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.

5 Day Chart for NYSE:CNNX

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