Cone Midstream Partners LP (NYSE:CNNX) had its price target dropped by investment analysts at Bank of America Corporation from $23.00 to $21.00 in a research note issued on Tuesday, August 8th. The firm currently has a “neutral” rating on the pipeline company’s stock. Bank of America Corporation’s price target indicates a potential upside of 21.95% from the stock’s current price.
CNNX has been the topic of a number of other reports. Citigroup Inc. raised Cone Midstream Partners from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Monday, May 22nd. Morgan Stanley lowered their target price on 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. ValuEngine lowered Cone Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Cone Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, BidaskClub raised Cone Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $23.00.
Cone Midstream Partners (NYSE:CNNX) traded up 2.62% during mid-day trading on Tuesday, hitting $17.22. 125,507 shares of the stock were exchanged. Cone Midstream Partners has a 1-year low of $16.71 and a 1-year high of $25.56. The company has a market capitalization of $1.09 billion, a PE ratio of 10.29 and a beta of 1.64. The stock has a 50 day moving average price of $19.01 and a 200 day moving average price of $21.03.
Cone Midstream Partners (NYSE:CNNX) last issued its earnings results on Monday, August 7th. The pipeline company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Cone Midstream Partners had a return on equity of 14.15% and a net margin of 45.95%. The company had revenue of $56.50 million for the quarter, compared to analyst estimates of $60.15 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Cone Midstream Partners’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities analysts anticipate that Cone Midstream Partners will post $1.66 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Van ECK Associates Corp acquired a new stake in shares of Cone Midstream Partners during the first quarter valued at about $1,691,000. Chicago Partners Investment Group LLC raised its stake in shares of Cone Midstream Partners by 0.4% in the first quarter. Chicago Partners Investment Group LLC now owns 18,172 shares of the pipeline company’s stock valued at $429,000 after buying an additional 72 shares in the last quarter. BB&T Securities LLC acquired a new stake in shares of Cone Midstream Partners during the first quarter valued at about $472,000. Stifel Financial Corp raised its stake in shares of Cone Midstream Partners by 2.3% in the first quarter. Stifel Financial Corp now owns 9,514 shares of the pipeline company’s stock valued at $225,000 after buying an additional 211 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Cone Midstream Partners during the first quarter valued at about $550,000. 40.77% of the stock is owned by hedge funds and other institutional investors.
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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