Cone Midstream Partners LP (NYSE:CNNX) Lifted to “Hold” at Zacks Investment Research

Cone Midstream Partners LP (NYSE:CNNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, October 17th.

According to Zacks, “CONE Midstream Partners LP owns, operates, develops and acquires natural gas gathering and other midstream energy assets. The Company’s initial assets include natural gas gathering pipelines and compression and dehydration facilities, condensate gathering, collection, separation and stabilization facilities. CONE Midstream Partners LP is based in Canonsburg, Pennsylvania. “

CNNX has been the topic of several other reports. ValuEngine upgraded shares of Cone Midstream Partners from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus restated a “buy” rating and set a $25.00 target price on shares of Cone Midstream Partners in a research report on Friday, August 11th. BidaskClub lowered shares of Cone Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Morgan Stanley lowered their target price on shares of Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, July 14th. Finally, Robert W. Baird restated a “buy” rating and set a $24.00 target price on shares of Cone Midstream Partners in a research report on Thursday, September 21st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Cone Midstream Partners presently has an average rating of “Hold” and an average target price of $23.29.

Cone Midstream Partners (CNNX) traded up $0.15 during midday trading on Tuesday, reaching $17.05. 44,337 shares of the company traded hands, compared to its average volume of 204,900. The stock has a market capitalization of $581.81, a PE ratio of 9.94, a P/E/G ratio of 0.88 and a beta of 1.64. Cone Midstream Partners has a 52-week low of $15.25 and a 52-week high of $25.56. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.21.

Cone Midstream Partners (NYSE:CNNX) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $56.69 million during the quarter, compared to analysts’ expectations of $62.96 million. Cone Midstream Partners had a net margin of 48.40% and a return on equity of 15.22%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. equities research analysts predict that Cone Midstream Partners will post 1.74 earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC boosted its position in Cone Midstream Partners by 3.4% during the second quarter. Global X Management Co. LLC now owns 7,616 shares of the pipeline company’s stock worth $144,000 after acquiring an additional 247 shares during the last quarter. Ibex Wealth Advisors boosted its position in Cone Midstream Partners by 100.0% during the first quarter. Ibex Wealth Advisors now owns 6,956 shares of the pipeline company’s stock worth $161,000 after acquiring an additional 3,478 shares during the last quarter. Stifel Financial Corp boosted its position in Cone Midstream Partners by 2.3% during the first quarter. Stifel Financial Corp now owns 9,514 shares of the pipeline company’s stock worth $225,000 after acquiring an additional 211 shares during the last quarter. Linscomb & Williams Inc. boosted its position in Cone Midstream Partners by 0.4% during the second quarter. Linscomb & Williams Inc. now owns 15,125 shares of the pipeline company’s stock worth $287,000 after acquiring an additional 65 shares during the last quarter. Finally, CNH Partners LLC boosted its position in Cone Midstream Partners by 1.2% during the second quarter. CNH Partners LLC now owns 16,600 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 36.52% of the company’s stock.

Cone Midstream Partners Company Profile

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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Analyst Recommendations for Cone Midstream Partners (NYSE:CNNX)

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