CNX Midstream Partners (NYSE:CNXM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “CNX Midstream Partners LP is a master limited partnership which owns, operates and develops natural gas gathering and other midstream energy assets primarily in the Marcellus Shale in Pennsylvania and West Virginia. CNX Midstream Partners LP, formerly known as CONE Midstream Partners LP, is based in Canonsburg, PA. “

A number of other analysts also recently commented on CNXM. JPMorgan Chase & Co. downgraded CNX Midstream Partners from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $24.00 to $20.00 in a research note on Tuesday, February 5th. Wells Fargo & Co downgraded CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 19th. Robert W. Baird downgraded CNX Midstream Partners from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $18.00 in a research note on Thursday, March 7th. They noted that the move was a valuation call. Finally, ValuEngine downgraded CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.33.

CNX Midstream Partners stock traded up $0.01 during mid-day trading on Monday, hitting $14.90. 149,353 shares of the company’s stock traded hands, compared to its average volume of 317,020. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market capitalization of $954.68 million, a P/E ratio of 7.88, a PEG ratio of 0.54 and a beta of 1.28. CNX Midstream Partners has a one year low of $13.86 and a one year high of $21.00.

CNX Midstream Partners (NYSE:CNXM) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $72.22 million for the quarter, compared to the consensus estimate of $68.55 million. CNX Midstream Partners had a net margin of 53.32% and a return on equity of 36.16%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. On average, research analysts expect that CNX Midstream Partners will post 1.95 earnings per share for the current fiscal year.

In other news, Chairman N J. Deiuliis acquired 6,100 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were bought at an average price of $16.30 per share, with a total value of $99,430.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in shares of CNX Midstream Partners by 553.6% in the 1st quarter. Jane Street Group LLC now owns 124,032 shares of the pipeline company’s stock worth $1,887,000 after acquiring an additional 105,054 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of CNX Midstream Partners by 312.5% in the 1st quarter. Advisors Asset Management Inc. now owns 40,784 shares of the pipeline company’s stock worth $620,000 after acquiring an additional 30,898 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of CNX Midstream Partners by 12.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 905,737 shares of the pipeline company’s stock worth $13,777,000 after acquiring an additional 103,329 shares during the last quarter. Cresset Asset Management LLC acquired a new position in shares of CNX Midstream Partners in the 1st quarter worth $30,000. Finally, EJF Capital LLC grew its holdings in shares of CNX Midstream Partners by 16.7% in the 1st quarter. EJF Capital LLC now owns 35,000 shares of the pipeline company’s stock worth $532,000 after acquiring an additional 5,000 shares during the last quarter. 50.98% of the stock is currently owned by institutional investors.

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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