BP Capital Fund Advisors LLC raised its stake in shares of CNX Midstream Partners LP (NYSE:CNXM) by 66.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,194 shares of the pipeline company’s stock after buying an additional 97,250 shares during the period. CNX Midstream Partners accounts for approximately 2.0% of BP Capital Fund Advisors LLC’s portfolio, making the stock its 15th biggest holding. BP Capital Fund Advisors LLC owned 0.38% of CNX Midstream Partners worth $4,591,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GSA Capital Partners LLP raised its holdings in CNX Midstream Partners by 8.1% during the second quarter. GSA Capital Partners LLP now owns 46,791 shares of the pipeline company’s stock valued at $907,000 after buying an additional 3,506 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in CNX Midstream Partners by 23.7% during the third quarter. Janney Montgomery Scott LLC now owns 19,050 shares of the pipeline company’s stock valued at $367,000 after buying an additional 3,650 shares in the last quarter. EJF Capital LLC raised its holdings in CNX Midstream Partners by 40.0% during the second quarter. EJF Capital LLC now owns 35,000 shares of the pipeline company’s stock valued at $679,000 after buying an additional 10,000 shares in the last quarter. Jane Street Group LLC bought a new position in CNX Midstream Partners during the second quarter valued at about $216,000. Finally, Cornerstone Wealth Management LLC bought a new position in CNX Midstream Partners during the second quarter valued at about $600,000. Institutional investors own 46.59% of the company’s stock.
CNX Midstream Partners stock opened at $18.43 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a market capitalization of $1.15 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.72 and a beta of 1.56. CNX Midstream Partners LP has a 52 week low of $16.10 and a 52 week high of $21.05.
CNX Midstream Partners (NYSE:CNXM) last posted its quarterly earnings data on Tuesday, October 30th. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $60.97 million for the quarter, compared to analyst estimates of $64.72 million. CNX Midstream Partners had a return on equity of 23.69% and a net margin of 47.87%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Analysts anticipate that CNX Midstream Partners LP will post 1.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Stockholders of record on Monday, November 5th were paid a $0.3479 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.34. This represents a $1.39 dividend on an annualized basis and a dividend yield of 7.55%. CNX Midstream Partners’s payout ratio is presently 80.81%.
Several equities analysts have weighed in on CNXM shares. ValuEngine upgraded CNX Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Zacks Investment Research lowered CNX Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Mitsubishi UFJ Financial Group started coverage on CNX Midstream Partners in a report on Friday, October 5th. They set an “overweight” rating and a $24.00 target price on the stock. Finally, Wells Fargo & Co cut their target price on CNX Midstream Partners from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. CNX Midstream Partners has a consensus rating of “Buy” and a consensus price target of $23.75.
In other news, major shareholder Nbl Midstream, Llc sold 14,217,198 shares of CNX Midstream Partners stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $17.75, for a total value of $252,355,264.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
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CNX Midstream Partners 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. As of December 31, 2017, the company operates 18 compression and dehydration facilities. It also operates condensate handling facilities with handling capacities of 2,500 Bbl/d each in Majorsville, Pennsylvania, as well as Moundsville, West Virginia that provide condensate gathering, collection, separation, and stabilization services.
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