Zacks Investment Research upgraded shares of Cone Midstream Partners LP (NYSE:CNNX) from a sell rating to a hold rating in a research note published 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. “

A number of other equities research analysts also recently weighed in on CNNX. Morgan Stanley lowered 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. BidaskClub upgraded Cone Midstream Partners from a sell rating to a hold rating in a report on Wednesday, July 19th. Bank of America Corporation lowered 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. Finally, Stifel Nicolaus reiterated a buy rating and issued a $25.00 price target on shares of Cone Midstream Partners in a report on Friday, August 11th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Cone Midstream Partners has an average rating of Hold and a consensus price target of $23.29.

Shares of Cone Midstream Partners (NYSE CNNX) opened at $16.72 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.21. Cone Midstream Partners has a twelve month low of $15.25 and a twelve month high of $25.56. The stock has a market capitalization of $572.86, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.86 and a beta of 1.64.

Cone Midstream Partners (NYSE:CNNX) last issued its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.43 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.43. Cone Midstream Partners had a return on equity of 15.22% and a net margin of 48.40%. The business had revenue of $56.69 million during the quarter, compared to the consensus estimate of $62.96 million. During the same period in the previous year, the business earned $0.40 EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis. equities analysts anticipate that Cone Midstream Partners will post 1.75 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, November 3rd will be paid a dividend of $0.3025 per share. This is an increase from Cone Midstream Partners’s previous quarterly dividend of $0.29. This represents a $1.21 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date of this dividend is Thursday, November 2nd. Cone Midstream Partners’s dividend payout ratio is presently 71.18%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HITE Hedge Asset Management LLC grew its stake in Cone Midstream Partners by 89.8% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 145,074 shares of the pipeline company’s stock worth $2,298,000 after buying an additional 68,636 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Cone Midstream Partners by 1,057.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,397 shares of the pipeline company’s stock worth $173,000 after buying an additional 9,499 shares during the last quarter. Harvest Fund Advisors LLC bought a new position in Cone Midstream Partners during the 3rd quarter worth $226,000. Alps Advisors Inc. grew its stake in Cone Midstream Partners by 15.8% during the 3rd quarter. Alps Advisors Inc. now owns 26,156 shares of the pipeline company’s stock worth $414,000 after buying an additional 3,569 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in Cone Midstream Partners by 13.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 577,569 shares of the pipeline company’s stock worth $10,945,000 after buying an additional 69,674 shares during the last quarter. Hedge funds and other institutional investors own 36.52% 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.

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