ValuEngine upgraded shares of CONE Midstream Partners (NYSE:CNNX) from a hold rating to a buy rating in a report issued on Saturday, December 9th.
CNNX has been the subject of several other reports. BidaskClub cut CONE Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, October 3rd. Morgan Stanley reduced their price target on CONE Midstream Partners from $23.00 to $21.00 and set an equal weight rating for the company in a research report on Friday, November 17th. Zacks Investment Research raised CONE Midstream Partners from a sell rating to a hold rating in a research report on Wednesday, November 8th. Robert W. Baird reaffirmed a buy rating and issued a $24.00 price objective on shares of CONE Midstream Partners in a research report on Thursday, September 21st. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $22.00 price objective on shares of CONE Midstream Partners in a research report on Monday, October 30th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. CONE Midstream Partners currently has an average rating of Hold and a consensus target price of $22.86.
Shares of CONE Midstream Partners (CNNX) traded up $0.32 during trading on Friday, hitting $17.09. The company’s stock had a trading volume of 83,959 shares, compared to its average volume of 113,850. CONE Midstream Partners has a 12 month low of $15.25 and a 12 month high of $25.56. The company has a market capitalization of $1,080.00, a P/E ratio of 10.05, a P/E/G ratio of 0.87 and a beta of 1.64. 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 data on Thursday, November 2nd. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $56.69 million during the quarter, compared to the consensus estimate of $62.96 million. CONE Midstream Partners had a return on equity of 15.22% and a net margin of 48.40%. CONE Midstream Partners’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. equities research analysts expect that CONE Midstream Partners will post 1.75 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Global X Management Co. LLC increased its stake in CONE Midstream Partners by 3.4% during the 2nd 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 period. JPMorgan Chase & Co. increased its stake in shares of CONE Midstream Partners by 1,057.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,397 shares of the pipeline company’s stock valued at $173,000 after purchasing an additional 9,499 shares during the last quarter. Harvest Fund Advisors LLC bought a new position in shares of CONE Midstream Partners in the 3rd quarter valued at $226,000. Linscomb & Williams Inc. increased its stake in shares of CONE Midstream Partners by 0.4% in the 2nd quarter. Linscomb & Williams Inc. now owns 15,125 shares of the pipeline company’s stock valued at $287,000 after purchasing an additional 65 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of CONE Midstream Partners in the 3rd quarter valued at $291,000. Hedge funds and other institutional investors own 37.36% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “ValuEngine Upgrades CONE Midstream Partners (CNNX) to “Buy”” was originally reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.truebluetribune.com/2018/01/03/cone-midstream-partners-cnnx-rating-increased-to-buy-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for CONE Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONE Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.