Cone Midstream Partners LP (CNNX) Upgraded to Outperform at Wells Fargo & Co.
Cone Midstream Partners LP (NYSE:CNNX) was upgraded by equities research analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a report released on Wednesday.
CNNX has been the topic of a number of other reports. Credit Suisse Group AG cut Cone Midstream Partners from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $22.00 in a report on Tuesday, September 13th. Zacks Investment Research upgraded Cone Midstream Partners from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, June 29th. Robert W. Baird set a $23.00 price objective on Cone Midstream Partners and gave the company a “buy” rating in a report on Monday, August 29th. Janney Montgomery Scott initiated coverage on Cone Midstream Partners in a report on Thursday, September 1st. They issued a “buy” rating and a $22.00 price objective on the stock. They noted that the move was a valuation call. Finally, Citigroup Inc. upped their price objective on Cone Midstream Partners from $15.00 to $18.50 and gave the company a “neutral” rating in a report on Monday, August 8th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $19.50.
Shares of Cone Midstream Partners (NYSE:CNNX) traded down 0.36% on Wednesday, reaching $19.44. The company had a trading volume of 110,409 shares. The company’s 50 day moving average price is $18.48 and its 200-day moving average price is $16.37. Cone Midstream Partners has a 1-year low of $7.55 and a 1-year high of $19.86. The stock has a market capitalization of $1.13 billion, a P/E ratio of 12.84 and a beta of 1.86.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/cone-midstream-partners-lp-cnnx-upgraded-to-outperform-at-wells-fargo-co.html
Cone Midstream Partners (NYSE:CNNX) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Cone Midstream Partners had a return on equity of 11.21% and a net margin of 38.65%. The firm had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $60.61 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. Equities analysts predict that Cone Midstream Partners will post $1.55 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Cone Midstream Partners by 70.7% in the second quarter. JPMorgan Chase & Co. now owns 8,876 shares of the company’s stock worth $154,000 after buying an additional 3,676 shares in the last quarter. Royal Bank of Canada raised its stake in Cone Midstream Partners by 119.1% in the second quarter. Royal Bank of Canada now owns 9,640 shares of the company’s stock worth $167,000 after buying an additional 5,240 shares in the last quarter. Linscomb & Williams Inc. raised its stake in Cone Midstream Partners by 3.7% in the second quarter. Linscomb & Williams Inc. now owns 14,957 shares of the company’s stock worth $259,000 after buying an additional 527 shares in the last quarter. Catawba Capital Management VA bought a new stake in Cone Midstream Partners during the third quarter worth $275,000. Finally, Creative Planning raised its stake in Cone Midstream Partners by 47.5% in the second quarter. Creative Planning now owns 16,957 shares of the company’s stock worth $294,000 after buying an additional 5,462 shares in the last quarter. 43.47% of the stock is currently owned by institutional investors and hedge funds.
Cone Midstream Partners Company Profile
CONE Midstream Partners LP is a master limited partnership formed between 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.
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 MarketBeat.com's FREE daily email newsletter.