Cone Midstream Partners LP (NYSE:CNNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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 equities analysts also recently issued reports on the stock. ValuEngine upgraded shares of Cone Midstream Partners from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Robert W. Baird restated a “buy” rating and set a $24.00 price objective on shares of Cone Midstream Partners in a report on Thursday, September 21st. Stifel Nicolaus restated a “buy” rating and set a $25.00 price objective on shares of Cone Midstream Partners in a report on Friday, August 11th. Morgan Stanley cut their price objective on shares of Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, July 14th. Finally, BidaskClub upgraded shares of Cone Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.29.

Cone Midstream Partners (NYSE CNNX) traded down 0.72% during mid-day trading on Wednesday, reaching $16.51. 100,101 shares of the company’s stock were exchanged. The company’s 50-day moving average is $17.13 and its 200 day moving average is $19.50. Cone Midstream Partners has a one year low of $15.77 and a one year high of $25.56. The firm has a market capitalization of $1.05 billion, a P/E ratio of 9.87 and a beta of 1.63.

Cone Midstream Partners (NYSE:CNNX) last released its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $56.50 million during the quarter, compared to analyst estimates of $60.15 million. Cone Midstream Partners had a net margin of 45.95% and a return on equity of 14.15%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. Equities analysts predict that Cone Midstream Partners will post $1.71 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. increased its holdings in Cone Midstream Partners by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 22,587 shares of the pipeline company’s stock worth $428,000 after buying an additional 58 shares during the period. Linscomb & Williams Inc. increased its holdings in Cone Midstream Partners by 0.4% in the 2nd quarter. Linscomb & Williams Inc. now owns 15,125 shares of the pipeline company’s stock worth $287,000 after buying an additional 65 shares during the period. CNH Partners LLC increased its holdings in Cone Midstream Partners by 1.2% in the 2nd quarter. CNH Partners LLC now owns 16,600 shares of the pipeline company’s stock worth $315,000 after buying an additional 200 shares during the period. Stifel Financial Corp increased its holdings in Cone Midstream Partners by 2.3% in the 1st quarter. Stifel Financial Corp now owns 9,514 shares of the pipeline company’s stock worth $225,000 after buying an additional 211 shares during the period. Finally, Global X Management Co. LLC increased its holdings in Cone Midstream Partners by 3.4% in the 2nd quarter. Global X Management Co. LLC now owns 7,616 shares of the pipeline company’s stock worth $144,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 36.98% 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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Analyst Recommendations for Cone Midstream Partners (NYSE:CNNX)

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