Cone Midstream Partners LP (CNNX) Given Consensus Rating of “Hold” by Analysts
Cone Midstream Partners LP (NYSE:CNNX) has been given an average recommendation of “Hold” by the eleven brokerages that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $23.29.
Several brokerages have weighed in on CNNX. BidaskClub raised Cone Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Barclays PLC raised Cone Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 18th. Morgan Stanley dropped 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cone Midstream Partners in a research report on Friday, August 11th. Finally, Bank of America Corporation dropped their target price on Cone Midstream Partners from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th.
Shares of Cone Midstream Partners (NYSE:CNNX) opened at $16.90 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $581.80, a P/E 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.
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, meeting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $56.69 million for the quarter, compared to analyst estimates of $62.96 million. Cone Midstream Partners had a return on equity of 15.23% and a net margin of 48.40%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. research analysts predict that Cone Midstream Partners will post 1.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd will be paid a $0.3025 dividend. This is a boost from Cone Midstream Partners’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.21 annualized dividend and a dividend yield of 7.16%. Cone Midstream Partners’s dividend payout ratio is presently 71.18%.
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Large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in Cone Midstream Partners by 0.3% during the second quarter. Alps Advisors Inc. now owns 22,587 shares of the pipeline company’s stock valued at $428,000 after buying an additional 58 shares in the last quarter. Linscomb & Williams Inc. boosted its stake 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 valued at $287,000 after buying an additional 65 shares in the last quarter. CNH Partners LLC boosted its stake 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 valued at $315,000 after buying an additional 200 shares in the last quarter. Stifel Financial Corp boosted its stake 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 valued at $225,000 after buying an additional 211 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake 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 valued at $144,000 after buying an additional 247 shares in the last quarter. 36.52% of the stock is owned by institutional investors.
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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