Cone Midstream Partners LP (NYSE:CNNX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.50 and last traded at $15.74, with a volume of 407,677 shares trading hands. The stock had previously closed at $16.25.

Several equities research analysts have issued reports on CNNX shares. BidaskClub upgraded shares of Cone Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 2nd. ValuEngine lowered shares of Cone Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Morgan Stanley lowered their price target on shares of Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 14th. Zacks Investment Research lowered shares of Cone Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Robert W. Baird restated a “buy” rating and set a $24.00 price objective on shares of Cone Midstream Partners in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Cone Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $23.29.

The stock has a market cap of $1.01 billion, a P/E ratio of 9.47 and a beta of 1.63. The firm has a 50-day moving average of $17.11 and a 200-day moving average of $19.40.

Cone Midstream Partners (NYSE:CNNX) last announced its earnings results on Monday, August 7th. The pipeline company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $56.50 million during the quarter, compared to the consensus estimate of $60.15 million. Cone Midstream Partners had a net margin of 45.95% and a return on equity of 14.15%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Equities research analysts predict that Cone Midstream Partners LP will post $1.71 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in CNNX. Global X Management Co. LLC raised its holdings in shares of 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 valued at $144,000 after purchasing an additional 247 shares during the last quarter. Ibex Wealth Advisors raised its holdings in shares of Cone Midstream Partners by 100.0% in the first 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 last quarter. Stifel Financial Corp raised its holdings in shares of Cone Midstream Partners by 2.3% in the first 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 last quarter. Linscomb & Williams Inc. raised its holdings in shares of Cone Midstream Partners by 0.4% in the second 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 last quarter. Finally, CNH Partners LLC raised its holdings in shares of Cone Midstream Partners by 1.2% in the second 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 last quarter. Institutional investors own 36.98% of the company’s stock.

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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.

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