Cone Midstream Partners LP (NYSE:CNNX) Upgraded 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 report released 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. “

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird restated a “buy” rating and set a $24.00 target price on shares of Cone Midstream Partners in a report on Thursday, September 21st. ValuEngine downgraded shares of Cone Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Morgan Stanley decreased their price objective on shares of Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, July 14th. BidaskClub upgraded shares of Cone Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Barclays PLC upgraded shares of Cone Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.29.

Shares of Cone Midstream Partners (CNNX) traded up 1.54% during trading on Tuesday, hitting $15.82. The company’s stock had a trading volume of 116,199 shares. The company has a market cap of $1.01 billion, a PE ratio of 9.46 and a beta of 1.63. The firm’s 50 day moving average price is $16.86 and its 200-day moving average price is $19.01. 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 issued its earnings results on Monday, August 7th. The pipeline company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $56.50 million for the quarter, compared to the consensus estimate of $60.15 million. Cone Midstream Partners had a net margin of 45.95% and a return on equity of 14.15%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. On average, analysts predict that Cone Midstream Partners will post $1.71 earnings per share for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of CNNX. Bank of New York Mellon Corp lifted its holdings in shares of Cone Midstream Partners by 9.9% in the 1st quarter. Bank of New York Mellon Corp now owns 354,470 shares of the pipeline company’s stock worth $8,369,000 after purchasing an additional 32,013 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Cone Midstream Partners by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 82,158 shares of the pipeline company’s stock worth $1,962,000 after purchasing an additional 5,065 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Cone Midstream Partners by 2.3% in the 1st quarter. Stifel Financial Corp now owns 9,514 shares of the pipeline company’s stock worth $225,000 after purchasing an additional 211 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Cone Midstream Partners in the 1st quarter worth $1,277,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Cone Midstream Partners in the 1st quarter worth $1,277,000. Institutional investors own 36.54% 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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