Wall Street brokerages expect CNX Midstream Partners LP (NYSE:CNXM) to report $71.71 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for CNX Midstream Partners’ earnings, with estimates ranging from $66.20 million to $78.60 million. CNX Midstream Partners posted sales of $61.01 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 1st.
On average, analysts expect that CNX Midstream Partners will report full year sales of $291.03 million for the current fiscal year, with estimates ranging from $274.20 million to $313.30 million. For the next financial year, analysts forecast that the company will post sales of $332.38 million, with estimates ranging from $321.70 million to $355.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover CNX Midstream Partners.
CNX Midstream Partners (NYSE:CNXM) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $72.22 million for the quarter, compared to analyst estimates of $68.55 million. CNX Midstream Partners had a net margin of 53.32% and a return on equity of 36.16%. CNX Midstream Partners’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share.
A number of brokerages have recently commented on CNXM. ValuEngine raised CNX Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Saturday, June 1st. Zacks Investment Research cut CNX Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Wells Fargo & Co cut CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird cut CNX Midstream Partners from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $18.00 in a research note on Thursday, March 7th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.33.
Several large investors have recently added to or reduced their stakes in CNXM. JPMorgan Chase & Co. lifted its stake in CNX Midstream Partners by 66.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 466,877 shares of the pipeline company’s stock worth $8,987,000 after acquiring an additional 185,967 shares in the last quarter. Bank of Montreal Can lifted its stake in CNX Midstream Partners by 43.9% in the 4th quarter. Bank of Montreal Can now owns 115,871 shares of the pipeline company’s stock worth $1,886,000 after acquiring an additional 35,371 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in CNX Midstream Partners in the 4th quarter worth about $161,000. Alps Advisors Inc. raised its stake in shares of CNX Midstream Partners by 33.7% during the 4th quarter. Alps Advisors Inc. now owns 32,507 shares of the pipeline company’s stock worth $529,000 after purchasing an additional 8,189 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of CNX Midstream Partners by 237.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 811,589 shares of the pipeline company’s stock worth $13,213,000 after purchasing an additional 571,389 shares in the last quarter. Institutional investors and hedge funds own 49.59% of the company’s stock.
Shares of CNXM traded down $0.18 during trading hours on Friday, reaching $14.50. 117,700 shares of the company’s stock traded hands, compared to its average volume of 305,714. The firm has a market capitalization of $940.03 million, a price-to-earnings ratio of 7.67 and a beta of 1.20. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.41. CNX Midstream Partners has a twelve month low of $13.86 and a twelve month high of $21.00.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Monday, May 6th were given a $0.3732 dividend. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.49 dividend on an annualized basis and a dividend yield of 10.30%. CNX Midstream Partners’s dividend payout ratio (DPR) is 78.84%.
CNX Midstream Partners Company Profile
CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. The company operates through two segments, Anchor Systems and Additional Systems. As of December 31, 2018, the company operated 14 compression and dehydration facilities.
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