Zacks Investment Research upgraded shares of Cone Midstream Partners LP (NYSE:CNNX) from a sell rating to a hold rating in a research note published on Wednesday morning.

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. “

Several other brokerages have also issued reports on CNNX. ValuEngine lowered shares of Cone Midstream Partners from a buy rating to a hold rating in a research report on Friday, September 1st. BidaskClub lowered shares of Cone Midstream Partners from a hold rating to a sell rating in a research report on Friday, July 28th. Barclays PLC upgraded shares of Cone Midstream Partners from an equal weight rating to an overweight rating and set a $22.00 target price for the company in a research report on Tuesday, July 18th. Royal Bank Of Canada reiterated a hold rating and issued a $22.00 target price on shares of Cone Midstream Partners in a research report on Monday, October 30th. Finally, Bank of America Corporation cut their target price on shares of Cone Midstream Partners from $23.00 to $21.00 and set a neutral rating for the company in a research report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Cone Midstream Partners has an average rating of Hold and a consensus price target of $23.29.

Cone Midstream Partners (CNNX) traded down $0.11 during trading on Wednesday, reaching $16.64. The company’s stock had a trading volume of 69,735 shares, compared to its average volume of 169,693. The firm has a market capitalization of $583.18, a price-to-earnings ratio of 9.96, a P/E/G ratio of 0.88 and a beta of 1.64. Cone Midstream Partners has a one year low of $15.25 and a one year high of $25.56. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.21.

Cone Midstream Partners (NYSE:CNNX) last announced its earnings results on Thursday, November 2nd. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. Cone Midstream Partners had a net margin of 48.40% and a return on equity of 15.22%. The company had revenue of $56.69 million during the quarter, compared to analyst estimates of $62.96 million. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. equities analysts forecast that Cone Midstream Partners will post 1.75 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Cone Midstream Partners LP (CNNX) Upgraded to “Hold” at Zacks Investment Research” was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://theolympiareport.com/2017/11/09/cone-midstream-partners-lp-cnnx-upgraded-to-hold-at-zacks-investment-research.html.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd will be given a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 7.27%. This is a positive change from Cone Midstream Partners’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, November 2nd. Cone Midstream Partners’s dividend payout ratio is presently 71.18%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CNNX. HITE Hedge Asset Management LLC boosted its holdings in shares of Cone Midstream Partners by 89.8% during the third quarter. HITE Hedge Asset Management LLC now owns 145,074 shares of the pipeline company’s stock worth $2,298,000 after purchasing an additional 68,636 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cone Midstream Partners by 1,057.8% during the third quarter. JPMorgan Chase & Co. now owns 10,397 shares of the pipeline company’s stock worth $173,000 after purchasing an additional 9,499 shares during the period. Harvest Fund Advisors LLC purchased a new stake in shares of Cone Midstream Partners during the third quarter worth about $226,000. Alps Advisors Inc. boosted its holdings in shares of Cone Midstream Partners by 15.8% during the third quarter. Alps Advisors Inc. now owns 26,156 shares of the pipeline company’s stock worth $414,000 after purchasing an additional 3,569 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Cone Midstream Partners by 13.7% during the second quarter. Westwood Holdings Group Inc. now owns 577,569 shares of the pipeline company’s stock worth $10,945,000 after purchasing an additional 69,674 shares during the period. Institutional investors and hedge funds own 36.52% 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.

Analyst Recommendations for Cone Midstream Partners (NYSE:CNNX)

Receive News & Ratings for Cone Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cone Midstream Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.