Cone Midstream Partners LP (NYSE:CNNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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. “

Several other equities research analysts have also recently issued reports on the stock. Robert W. Baird restated a “buy” rating and set a $24.00 price objective on shares of Cone Midstream Partners in a research report on Thursday, September 21st. ValuEngine cut shares of Cone Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley dropped their price target on shares of 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 cut shares of Cone Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 13th. Finally, Barclays PLC upgraded shares of Cone Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $23.29.

Cone Midstream Partners (NYSE CNNX) traded down 0.72% during mid-day trading on Wednesday, hitting $16.51. 100,101 shares of the stock were exchanged. The stock’s 50 day moving average is $17.13 and its 200 day moving average is $19.50. Cone Midstream Partners has a 52-week low of $15.77 and a 52-week high of $25.56. The stock has a market cap of $1.05 billion, a PE ratio of 9.87 and a beta of 1.63.

Cone Midstream Partners (NYSE:CNNX) last released its quarterly earnings data 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 net margin of 45.95% and a return on equity of 14.15%. The firm had revenue of $56.50 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same period last year, the business earned $0.39 earnings per share. Cone Midstream Partners’s revenue was down 3.3% compared to the same quarter last year. Analysts forecast that Cone Midstream Partners will post $1.71 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. increased its position in shares of Cone Midstream Partners by 13.7% during the second quarter. Westwood Holdings Group Inc. now owns 577,569 shares of the pipeline company’s stock valued at $10,945,000 after acquiring an additional 69,674 shares during the last quarter. Linscomb & Williams Inc. increased its position in shares of Cone Midstream Partners by 0.4% during the second quarter. Linscomb & Williams Inc. now owns 15,125 shares of the pipeline company’s stock valued at $287,000 after acquiring an additional 65 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Cone Midstream Partners by 2.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,593 shares of the pipeline company’s stock valued at $428,000 after acquiring an additional 506 shares during the last quarter. CNH Partners LLC increased its position in shares of Cone Midstream Partners by 1.2% during the second quarter. CNH Partners LLC now owns 16,600 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 200 shares during the last quarter. Finally, Castleton Investment Management LLC increased its position in shares of Cone Midstream Partners by 455.0% during the second quarter. Castleton Investment Management LLC now owns 111,000 shares of the pipeline company’s stock valued at $2,103,000 after acquiring an additional 91,000 shares during the last quarter. Institutional investors and hedge funds own 36.98% of the company’s stock.

About Cone Midstream Partners

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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