Cone Midstream Partners LP (NYSE:CNNX)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a research note issued on Friday. They currently have a $25.00 target price on the pipeline company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 36.24% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the company. BidaskClub upgraded Cone Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 2nd. Royal Bank Of Canada cut Cone Midstream Partners from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $26.00 to $22.00 in a research note on Monday, May 8th. Citigroup Inc. reiterated a “neutral” rating and issued a $25.00 price target (up from $21.00) on shares of Cone Midstream Partners in a research note on Tuesday, April 25th. Zacks Investment Research upgraded Cone Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, Morgan Stanley cut their price target on Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Cone Midstream Partners has a consensus rating of “Hold” and an average price target of $23.00.
Shares of Cone Midstream Partners (CNNX) opened at 18.35 on Friday. Cone Midstream Partners has a 12 month low of $17.13 and a 12 month high of $25.56. The firm has a 50 day moving average price of $19.15 and a 200-day moving average price of $21.28. The company has a market cap of $1.17 billion, a P/E ratio of 10.97 and a beta of 1.64.
Cone Midstream Partners (NYSE:CNNX) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Cone Midstream Partners had a return on equity of 14.15% and a net margin of 45.95%. The company had revenue of $56.50 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. Analysts anticipate that Cone Midstream Partners will post $1.73 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in Cone Midstream Partners by 9.3% in the second quarter. California Public Employees Retirement System now owns 17,600 shares of the pipeline company’s stock valued at $334,000 after buying an additional 1,500 shares during the last quarter. Citigroup Inc. boosted its stake in Cone Midstream Partners by 166.3% in the second quarter. Citigroup Inc. now owns 177,785 shares of the pipeline company’s stock valued at $3,369,000 after buying an additional 111,030 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Cone Midstream Partners by 5.4% in the second quarter. Ameriprise Financial Inc. now owns 86,561 shares of the pipeline company’s stock valued at $1,640,000 after buying an additional 4,403 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Cone Midstream Partners by 3.2% in the second quarter. Wells Fargo & Company MN now owns 170,720 shares of the pipeline company’s stock valued at $3,235,000 after buying an additional 5,317 shares during the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new stake in Cone Midstream Partners during the second quarter valued at $683,000. Hedge funds and other institutional investors own 40.91% 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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