Cone Midstream Partners’ (CNNX) Hold Rating Reaffirmed at Royal Bank Of Canada
Cone Midstream Partners LP (NYSE:CNNX)‘s stock had its “hold” rating reissued by research analysts at Royal Bank Of Canada in a note issued to investors on Monday. They currently have a $22.00 price objective on the pipeline company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 36.99% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. Robert W. Baird reiterated a “buy” rating and issued a $24.00 price target on shares of Cone Midstream Partners in a research note on Thursday, September 21st. ValuEngine lowered Cone Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley cut their price objective on Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Friday, July 14th. BidaskClub upgraded Cone Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research lowered Cone Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $23.29.
Cone Midstream Partners (NYSE CNNX) traded down 1.17% during trading on Monday, reaching $16.06. The company had a trading volume of 306,552 shares. The firm has a market capitalization of $1.02 billion, a P/E ratio of 9.60 and a beta of 1.63. Cone Midstream Partners has a one year low of $15.25 and a one year high of $25.56. The firm’s 50-day moving average price is $16.73 and its 200 day moving average price is $18.86.
Cone Midstream Partners (NYSE:CNNX) last issued its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $56.50 million during the quarter, compared to analyst estimates of $60.15 million. During the same quarter in the prior year, the business posted $0.39 EPS. Cone Midstream Partners’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts forecast that Cone Midstream Partners will post $1.71 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Cone Midstream Partners by 106.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,001,411 shares of the pipeline company’s stock valued at $23,643,000 after acquiring an additional 515,457 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in shares of Cone Midstream Partners by 341.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 234,851 shares of the pipeline company’s stock valued at $4,462,000 after acquiring an additional 181,654 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in shares of Cone Midstream Partners by 10.4% in the 2nd quarter. Naples Global Advisors LLC now owns 21,225 shares of the pipeline company’s stock valued at $402,000 after acquiring an additional 2,000 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Cone Midstream Partners in the 2nd quarter valued at about $1,449,000. Finally, River & Mercantile Asset Management LLP bought a new position in shares of Cone Midstream Partners in the 2nd quarter valued at about $683,000. 36.52% of the stock is owned by hedge funds and other institutional investors.
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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