Cone Midstream Partners LP (NYSE:CNNX) was upgraded by equities research analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a report released on Wednesday.
CNNX has been the topic of a number of other reports. Credit Suisse Group AG cut Cone Midstream Partners from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $22.00 in a report on Tuesday, September 13th. Zacks Investment Research upgraded Cone Midstream Partners from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, June 29th. Robert W. Baird set a $23.00 price objective on Cone Midstream Partners and gave the company a “buy” rating in a report on Monday, August 29th. Janney Montgomery Scott initiated coverage on Cone Midstream Partners in a report on Thursday, September 1st. They issued a “buy” rating and a $22.00 price objective on the stock. They noted that the move was a valuation call. Finally, Citigroup Inc. upped their price objective on Cone Midstream Partners from $15.00 to $18.50 and gave the company a “neutral” rating in a report on Monday, August 8th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $19.50.
Shares of Cone Midstream Partners (NYSE:CNNX) traded down 0.36% on Wednesday, reaching $19.44. The company had a trading volume of 110,409 shares. The company’s 50 day moving average price is $18.48 and its 200-day moving average price is $16.37. Cone Midstream Partners has a 1-year low of $7.55 and a 1-year high of $19.86. The stock has a market capitalization of $1.13 billion, a P/E ratio of 12.84 and a beta of 1.86.
Cone Midstream Partners (NYSE:CNNX) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Cone Midstream Partners had a return on equity of 11.21% and a net margin of 38.65%. The firm had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $60.61 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. Equities analysts predict that Cone Midstream Partners will post $1.55 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Cone Midstream Partners by 70.7% in the second quarter. JPMorgan Chase & Co. now owns 8,876 shares of the company’s stock worth $154,000 after buying an additional 3,676 shares in the last quarter. Royal Bank of Canada raised its stake in Cone Midstream Partners by 119.1% in the second quarter. Royal Bank of Canada now owns 9,640 shares of the company’s stock worth $167,000 after buying an additional 5,240 shares in the last quarter. Linscomb & Williams Inc. raised its stake in Cone Midstream Partners by 3.7% in the second quarter. Linscomb & Williams Inc. now owns 14,957 shares of the company’s stock worth $259,000 after buying an additional 527 shares in the last quarter. Catawba Capital Management VA bought a new stake in Cone Midstream Partners during the third quarter worth $275,000. Finally, Creative Planning raised its stake in Cone Midstream Partners by 47.5% in the second quarter. Creative Planning now owns 16,957 shares of the company’s stock worth $294,000 after buying an additional 5,462 shares in the last quarter. 43.47% of the stock is currently owned by institutional investors and hedge funds.
Cone Midstream Partners Company Profile