The Cone Midstream Partners LP (NYSE:CNNX) Given Average Recommendation of “Buy” by Brokerages

The Cone Midstream Partners LP (NYSE:CNNX) Given Average Recommendation of “Buy” by Brokerages

Cone Midstream Partners LP (NYSE:CNNX) has been given an average rating of “Buy” by the thirteen research firms that are presently covering the stock. Seven equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $19.50.

Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Cone Midstream Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. TheStreet upgraded shares of Cone Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Stifel Nicolaus assumed coverage on shares of Cone Midstream Partners in a research note on Wednesday, July 13th. They issued a “buy” rating and a $21.00 price objective on the stock. Citigroup Inc. upped their price objective on shares of Cone Midstream Partners from $15.00 to $18.50 and gave the company a “neutral” rating in a research note on Monday, August 8th. Finally, Credit Suisse Group AG lowered shares of 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 research note on Tuesday, September 13th.

Cone Midstream Partners (NYSE:CNNX) traded down 0.8319% during midday trading on Friday, reaching $19.3477. 79,660 shares of the company traded hands. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 12.7792 and a beta of 1.86. The firm has a 50 day moving average of $18.44 and a 200-day moving average of $16.32. Cone Midstream Partners has a 12 month low of $7.55 and a 12 month high of $19.86.

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Cone Midstream Partners (NYSE:CNNX) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. Cone Midstream Partners had a net margin of 38.65% and a return on equity of 11.21%. The business had revenue of $58.40 million for the quarter, compared to analyst estimates of $60.61 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 22.4% compared to the same quarter last year. Analysts forecast that Cone Midstream Partners will post $1.55 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased 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 valued at $154,000 after buying an additional 3,676 shares in the last quarter. Royal Bank of Canada increased 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 valued at $167,000 after buying an additional 5,240 shares in the last quarter. Linscomb & Williams Inc. increased 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 valued at $259,000 after buying an additional 527 shares in the last quarter. Catawba Capital Management VA purchased a new stake in Cone Midstream Partners during the third quarter valued at about $275,000. Finally, Creative Planning increased 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 valued at $294,000 after buying an additional 5,462 shares in the last quarter. 43.47% of the stock is owned by institutional investors and hedge funds.

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