Cone Midstream Partners (NYSE:CNNX) Receiving Somewhat Favorable Press Coverage, Analysis Finds
News articles about Cone Midstream Partners (NYSE:CNNX) have trended somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cone Midstream Partners earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned news articles about the pipeline company an impact score of 47.3398337436345 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the news articles that may have effected Accern Sentiment’s rankings:
- Cone Midstream Partners LP (NYSE:CNNX) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS (americanbankingnews.com)
- BRIEF-Cone Midstream reports Q2 net income per LPU of $0.44 (feeds.reuters.com)
- EnLink Midstream Partners, LP (ENLK) Declares $0.39 Quarterly Dividend (currenthollywood.com)
- Cone Midstream Partners LP (NYSE:CNNX) Raises Dividend to $0.29 Per Share (trikkles.com)
- Brokerages Expect Cone Midstream Partners LP (NYSE:CNNX) Will Post Quarterly Sales of $61.66 Million (americanbankingnews.com)
A number of research firms have commented on CNNX. Barclays PLC upgraded Cone Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Tuesday, July 18th. BidaskClub lowered Cone Midstream Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Citigroup Inc. restated a “neutral” rating and set a $25.00 target price (up previously from $21.00) on shares of Cone Midstream Partners in a research report on Tuesday, April 25th. Royal Bank Of Canada lowered Cone Midstream Partners from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $26.00 to $22.00 in a research report on Monday, May 8th. Finally, Zacks Investment Research lowered Cone Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.00.
Shares of Cone Midstream Partners (NYSE CNNX) traded down 0.66% on Monday, reaching $17.96. The company’s stock had a trading volume of 196,303 shares. The company has a market cap of $1.14 billion, a P/E ratio of 11.04 and a beta of 1.64. Cone Midstream Partners has a 12-month low of $16.72 and a 12-month high of $25.56. The company’s 50 day moving average price is $19.27 and its 200 day moving average price is $21.55.
Cone Midstream Partners (NYSE:CNNX) last posted its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $56.50 million for the quarter, compared to analysts’ expectations of $60.15 million. Cone Midstream Partners had a return on equity of 12.90% and a net margin of 43.13%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. Analysts forecast that Cone Midstream Partners will post $1.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, August 4th will be given a dividend of $0.2922 per share. This represents a $1.17 annualized dividend and a yield of 6.51%. This is a boost from Cone Midstream Partners’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 2nd. Cone Midstream Partners’s payout ratio is presently 72.22%.
About Cone Midstream Partners
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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