CNX Midstream Partners LP (NYSE:CNXM) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 1,400,000 shares, a drop of 12.5% from the December 15th total of 1,600,000 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 406,900 shares, the short-interest ratio is currently 3.4 days.

Shares of CNXM stock traded up $0.03 during mid-day trading on Tuesday, hitting $16.70. 398,050 shares of the stock were exchanged, compared to its average volume of 440,000. The stock’s fifty day simple moving average is $15.51 and its two-hundred day simple moving average is $14.54. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 8.84 and a beta of 1.15. CNX Midstream Partners has a 12-month low of $12.95 and a 12-month high of $17.82. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.27 and a current ratio of 0.27.

CNX Midstream Partners (NYSE:CNXM) last issued its quarterly earnings data on Tuesday, October 29th. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $74.00 million for the quarter, compared to analyst estimates of $70.60 million. CNX Midstream Partners had a return on equity of 40.33% and a net margin of 57.05%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. On average, research analysts expect that CNX Midstream Partners will post 2.27 earnings per share for the current fiscal year.

A number of analysts have weighed in on CNXM shares. Zacks Investment Research upgraded CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, October 29th. TheStreet upgraded CNX Midstream Partners from a “c+” rating to a “b-” rating in a research note on Tuesday, January 7th. ValuEngine upgraded CNX Midstream Partners from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Barclays lowered CNX Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $17.00 price objective on the stock. in a report on Tuesday. Finally, Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of CNX Midstream Partners in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $16.80.

Several hedge funds have recently modified their holdings of CNXM. First Trust Advisors LP grew its holdings in shares of CNX Midstream Partners by 512.3% during the first quarter. First Trust Advisors LP now owns 342,057 shares of the pipeline company’s stock worth $5,203,000 after purchasing an additional 286,197 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of CNX Midstream Partners by 150.5% during the second quarter. Wells Fargo & Company MN now owns 330,096 shares of the pipeline company’s stock worth $4,638,000 after purchasing an additional 198,328 shares during the last quarter. LPL Financial LLC purchased a new position in shares of CNX Midstream Partners during the second quarter worth about $152,000. HighTower Advisors LLC purchased a new position in shares of CNX Midstream Partners during the second quarter worth about $165,000. Finally, Southeast Asset Advisors Inc. grew its holdings in shares of CNX Midstream Partners by 95.0% during the second quarter. Southeast Asset Advisors Inc. now owns 260,277 shares of the pipeline company’s stock worth $3,657,000 after buying an additional 126,807 shares during the last quarter. 43.13% of the stock is currently owned by institutional investors.

CNX Midstream Partners Company Profile

CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. The company operates through two segments, Anchor Systems and Additional Systems. As of December 31, 2018, the company operated 14 compression and dehydration facilities.

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