CNX Midstream Partners LP (NYSE:CNXM) shot up 0.5% during trading on Wednesday . The company traded as high as $8.12 and last traded at $8.16, 20,864 shares traded hands during trading. A decline of 99% from the average session volume of 2,179,308 shares. The stock had previously closed at $8.12.
A number of research firms have recently commented on CNXM. Zacks Investment Research raised CNX Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. ValuEngine downgraded CNX Midstream Partners from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. JPMorgan Chase & Co. cut CNX Midstream Partners from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $17.00 to $16.00 in a report on Wednesday, January 29th. Barclays cut CNX Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $17.00 price target for the company. in a report on Tuesday, January 14th. Finally, Wells Fargo & Co lowered CNX Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.50.
The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.55. The company has a market cap of $715.63 million, a PE ratio of 3.18 and a beta of 1.24. The stock has a 50-day moving average of $11.31 and a 200-day moving average of $13.94.
CNX Midstream Partners (NYSE:CNXM) last posted its earnings results on Thursday, January 30th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.18. The company had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $73.90 million. CNX Midstream Partners had a return on equity of 40.37% and a net margin of 57.00%. CNX Midstream Partners’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. Research analysts expect that CNX Midstream Partners LP will post 2.07 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Green Square Asset Management LLC purchased a new stake in CNX Midstream Partners during the 4th quarter valued at $255,000. Tortoise Capital Advisors L.L.C. grew its position in shares of CNX Midstream Partners by 3.9% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 6,358,161 shares of the pipeline company’s stock valued at $104,655,000 after acquiring an additional 236,333 shares during the period. Advisors Asset Management Inc. grew its position in shares of CNX Midstream Partners by 32.9% during the 4th quarter. Advisors Asset Management Inc. now owns 140,899 shares of the pipeline company’s stock valued at $2,319,000 after acquiring an additional 34,846 shares during the period. Jane Street Group LLC grew its position in shares of CNX Midstream Partners by 1,477.1% during the 4th quarter. Jane Street Group LLC now owns 176,971 shares of the pipeline company’s stock valued at $2,913,000 after acquiring an additional 165,750 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of CNX Midstream Partners by 3.3% during the 4th quarter. Guggenheim Capital LLC now owns 140,235 shares of the pipeline company’s stock valued at $2,308,000 after acquiring an additional 4,531 shares during the period. Institutional investors own 30.31% of the company’s stock.
About CNX Midstream Partners (NYSE:CNXM)
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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