Duff & Phelps Investment Management Co. cut its holdings in CNX Midstream Partners LP (NYSE:CNXM) by 47.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,000 shares of the pipeline company’s stock after selling 100,000 shares during the period. Duff & Phelps Investment Management Co. owned 0.17% of CNX Midstream Partners worth $1,546,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Squar Milner Financial Services LLC bought a new position in CNX Midstream Partners in the 1st quarter worth approximately $25,000. Advisor Group Inc. boosted its holdings in CNX Midstream Partners by 54.1% in the 2nd quarter. Advisor Group Inc. now owns 3,392 shares of the pipeline company’s stock worth $48,000 after buying an additional 1,191 shares during the period. Clarkston Capital Partners LLC bought a new position in CNX Midstream Partners in the 2nd quarter worth approximately $141,000. Penserra Capital Management LLC boosted its holdings in CNX Midstream Partners by 15.6% in the 1st quarter. Penserra Capital Management LLC now owns 12,600 shares of the pipeline company’s stock worth $191,000 after buying an additional 1,700 shares during the period. Finally, Comerica Securities Inc. bought a new position in CNX Midstream Partners in the 4th quarter worth approximately $244,000. 47.99% of the stock is owned by institutional investors.
NYSE CNXM traded up $0.46 on Friday, hitting $14.28. The stock had a trading volume of 191,100 shares, compared to its average volume of 388,278. CNX Midstream Partners LP has a 52-week low of $13.43 and a 52-week high of $20.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $910.21 million, a price-to-earnings ratio of 7.56 and a beta of 1.11. The firm has a 50-day moving average of $14.42 and a 200-day moving average of $14.90.
CNX Midstream Partners (NYSE:CNXM) last posted its earnings results on Tuesday, July 30th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.14. CNX Midstream Partners had a net margin of 56.02% and a return on equity of 39.15%. The business had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $71.60 million. During the same period in the prior year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, research analysts anticipate that CNX Midstream Partners LP will post 2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a $0.387 dividend. The ex-dividend date was Monday, August 5th. This is a boost from CNX Midstream Partners’s previous quarterly dividend of $0.37. This represents a $1.55 annualized dividend and a yield of 10.84%. CNX Midstream Partners’s dividend payout ratio is currently 82.01%.
CNXM has been the subject of several analyst reports. Zacks Investment Research raised shares of CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, August 7th. TheStreet cut shares of CNX Midstream Partners from a “b-” rating to a “c+” rating in a research note on Friday, June 14th. Finally, ValuEngine cut shares of CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. CNX Midstream Partners has a consensus rating of “Hold” and a consensus price target of $20.40.
About CNX Midstream Partners
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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