Cone Midstream Partners LP (NYSE:CNNX) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other equities research analysts have also issued reports on CNNX. Royal Bank Of Canada lowered shares of Cone Midstream Partners from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $26.00 to $22.00 in a report on Monday, May 8th. Zacks Investment Research raised shares of Cone Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Citigroup Inc. raised shares of Cone Midstream Partners from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Monday, May 22nd. BidaskClub lowered shares of Cone Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 13th. Finally, Morgan Stanley cut their price objective on shares of Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Cone Midstream Partners currently has an average rating of “Hold” and an average target price of $23.00.

Shares of Cone Midstream Partners (NYSE:CNNX) traded up 0.63% during midday trading on Friday, reaching $17.54. 65,532 shares of the company’s stock traded hands. Cone Midstream Partners has a one year low of $16.55 and a one year high of $25.56. The stock’s 50-day moving average price is $18.46 and its 200 day moving average price is $20.55. The firm has a market capitalization of $1.12 billion, a PE ratio of 10.48 and a beta of 1.64.

Cone Midstream Partners (NYSE:CNNX) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Cone Midstream Partners had a net margin of 45.95% and a return on equity of 14.15%. The business had revenue of $56.50 million during the quarter, compared to analyst estimates of $60.15 million. During the same period last year, the firm posted $0.39 EPS. The company’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Cone Midstream Partners will post $1.66 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Global X Management Co. LLC raised its position in Cone Midstream Partners by 3.4% in the second 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. Ibex Wealth Advisors raised its position in Cone Midstream Partners by 100.0% in the first quarter. Ibex Wealth Advisors now owns 6,956 shares of the pipeline company’s stock worth $161,000 after buying an additional 3,478 shares during the period. Stifel Financial Corp raised its position in Cone Midstream Partners by 2.3% in the first 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. Linscomb & Williams Inc. raised its position in Cone Midstream Partners by 0.4% in the second 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. Finally, CNH Partners LLC raised its position in Cone Midstream Partners by 1.2% in the second 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. 37.01% 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.

Analyst Recommendations for Cone Midstream Partners (NYSE:CNNX)

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