Cone Midstream Partners LP (NYSE:CNNX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $25.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 13.64% from the company’s previous close.

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. “

Other equities analysts have also issued reports about the stock. Janney Montgomery Scott started coverage on shares of Cone Midstream Partners in a research 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. Robert W. Baird set a $23.00 price target on shares of Cone Midstream Partners and gave the stock a “buy” rating in a research report on Monday, August 29th. TheStreet raised shares of Cone Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Credit Suisse Group AG lowered shares of Cone Midstream Partners from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $21.00 to $22.00 in a research report on Tuesday, September 13th. Finally, Citigroup Inc. raised their price target on shares of Cone Midstream Partners from $15.00 to $18.50 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Cone Midstream Partners has an average rating of “Hold” and a consensus target price of $19.90.

Analyst Recommendations for Cone Midstream Partners (NYSE:CNNX)

Cone Midstream Partners (NYSE:CNNX) opened at 22.00 on Monday. Cone Midstream Partners has a 52 week low of $7.55 and a 52 week high of $22.97. The firm has a 50 day moving average of $20.43 and a 200-day moving average of $18.07. The company has a market capitalization of $1.28 billion, a P/E ratio of 13.93 and a beta of 1.67.

Cone Midstream Partners (NYSE:CNNX) last issued its quarterly earnings data on Friday, November 4th. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $60.73 million for the quarter, compared to analyst estimates of $57.89 million. Cone Midstream Partners had a net margin of 39.18% and a return on equity of 11.33%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, analysts forecast that Cone Midstream Partners will post $1.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were paid a $0.263 dividend. This is an increase from Cone Midstream Partners’s previous quarterly dividend of $0.25. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Wednesday, November 2nd. Cone Midstream Partners’s dividend payout ratio (DPR) is presently 66.04%.

Several large investors have recently bought and sold shares of CNNX. Chicago Partners Investment Group LLC increased its stake in Cone Midstream Partners by 0.5% in the third quarter. Chicago Partners Investment Group LLC now owns 18,026 shares of the company’s stock worth $326,000 after buying an additional 87 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Cone Midstream Partners by 1.9% in the third quarter. Neuberger Berman Group LLC now owns 16,400 shares of the company’s stock worth $297,000 after buying an additional 300 shares during the last quarter. Linscomb & Williams Inc. increased 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 during the last quarter. Pointe Capital Management LLC increased its stake in Cone Midstream Partners by 1.5% in the third quarter. Pointe Capital Management LLC now owns 56,861 shares of the company’s stock worth $1,029,000 after buying an additional 835 shares during the last quarter. Finally, Nwam LLC increased its stake in Cone Midstream Partners by 2.8% in the third quarter. Nwam LLC now owns 65,571 shares of the company’s stock worth $1,187,000 after buying an additional 1,760 shares during the last quarter. Institutional investors own 43.61% of the company’s stock.

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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.

5 Day Chart for NYSE:CNNX

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