BidaskClub cut shares of Cone Midstream Partners LP (NYSE:CNNX) from a hold rating to a sell rating in a report published on Tuesday morning.

Several other equities research analysts also recently issued reports on CNNX. Morgan Stanley decreased their price target on 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. Barclays PLC upgraded Cone Midstream Partners from an equal weight rating to an overweight rating and set a $22.00 price target for the company in a report on Tuesday, July 18th. Bank of America Corporation decreased their price target on Cone Midstream Partners from $23.00 to $21.00 and set a neutral rating for the company in a report on Tuesday, August 8th. Stifel Nicolaus reiterated a buy rating and set a $25.00 price target on shares of Cone Midstream Partners in a report on Friday, August 11th. Finally, ValuEngine downgraded Cone Midstream Partners from a buy rating to a hold rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $23.29.

Shares of Cone Midstream Partners (NYSE CNNX) traded down 2.0796% during trading on Tuesday, hitting $16.3527. 180,262 shares of the stock traded hands. The firm has a market cap of $1.04 billion, a P/E ratio of 9.7745 and a beta of 1.63. The company has a 50-day moving average of $17.16 and a 200-day moving average of $19.63. Cone Midstream Partners has a 52 week low of $15.77 and a 52 week high of $25.56.

Cone Midstream Partners (NYSE:CNNX) last announced its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $60.15 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. Cone Midstream Partners’s revenue was down 3.3% compared to the same quarter last year. On average, analysts forecast that Cone Midstream Partners will post $1.71 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the business. Global X Management Co. LLC grew its stake 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 valued at $144,000 after purchasing an additional 247 shares during the period. Ibex Wealth Advisors grew its stake in Cone Midstream Partners by 100.0% in the 1st quarter. Ibex Wealth Advisors now owns 6,956 shares of the pipeline company’s stock valued at $161,000 after purchasing an additional 3,478 shares during the period. Stifel Financial Corp grew its stake 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 valued at $225,000 after purchasing an additional 211 shares during the period. Linscomb & Williams Inc. grew its stake 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 valued at $287,000 after purchasing an additional 65 shares during the period. Finally, CNH Partners LLC grew its stake 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 valued at $315,000 after purchasing an additional 200 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.

Analyst Recommendations for Cone Midstream Partners (NYSE:CNNX)

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