Spirit of America Management Corp NY cut its position in shares of CNX Midstream Partners LP (NYSE:CNXM) by 12.2% during the 1st quarter, Holdings Channel reports. The firm owned 673,983 shares of the pipeline company’s stock after selling 93,295 shares during the period. CNX Midstream Partners accounts for 1.5% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 23rd biggest position. Spirit of America Management Corp NY’s holdings in CNX Midstream Partners were worth $10,251,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in CNX Midstream Partners by 18.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock valued at $86,000 after buying an additional 850 shares during the last quarter. Tortoise Index Solutions LLC lifted its stake in CNX Midstream Partners by 101.6% in the fourth quarter. Tortoise Index Solutions LLC now owns 9,326 shares of the pipeline company’s stock valued at $152,000 after buying an additional 4,700 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in CNX Midstream Partners in the fourth quarter valued at $161,000. Captrust Financial Advisors bought a new stake in CNX Midstream Partners in the third quarter valued at $171,000. Finally, Penserra Capital Management LLC bought a new stake in CNX Midstream Partners in the fourth quarter valued at $177,000. Hedge funds and other institutional investors own 53.02% of the company’s stock.
A number of equities research analysts have issued reports on CNXM shares. ValuEngine cut CNX Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Zacks Investment Research cut CNX Midstream Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. Robert W. Baird cut CNX Midstream Partners from an “outperform” rating to a “neutral” rating and cut their target price for the company from $25.00 to $18.00 in a research note on Thursday, March 7th. They noted that the move was a valuation call. Wells Fargo & Co cut CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. cut CNX Midstream Partners from an “overweight” rating to a “neutral” rating and cut their target price for the company from $24.00 to $20.00 in a research note on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.33.
In other news, Chairman N J. Deiuliis bought 6,100 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were purchased at an average cost of $16.30 per share, with a total value of $99,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CNXM traded down $0.08 during trading hours on Wednesday, reaching $15.02. 669 shares of the company’s stock traded hands, compared to its average volume of 303,801. The firm has a market capitalization of $956.02 million, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.29. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.62 and a current ratio of 0.62. CNX Midstream Partners LP has a twelve month low of $13.86 and a twelve month high of $21.00.
CNX Midstream Partners (NYSE:CNXM) last issued its quarterly earnings results on Thursday, January 31st. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.13. The company had revenue of $70.82 million for the quarter, compared to analyst estimates of $65.90 million. CNX Midstream Partners had a return on equity of 32.52% and a net margin of 52.22%. Analysts forecast that CNX Midstream Partners LP will post 2.05 EPS for the current fiscal year.
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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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