CNX Midstream Partners LP (NYSE:CNXM) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $19.50.
CNXM has been the subject of a number of research analyst reports. TheStreet downgraded shares of CNX Midstream Partners from a “b-” rating to a “c+” rating in a research report on Friday, June 14th. Zacks Investment Research upgraded shares of CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, August 7th. Finally, ValuEngine downgraded shares of CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, June 14th.
CNXM stock traded down $0.20 during midday trading on Friday, reaching $13.87. The company had a trading volume of 72,425 shares, compared to its average volume of 413,484. CNX Midstream Partners has a 1 year low of $13.43 and a 1 year high of $20.95. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $917.79 million, a P/E ratio of 7.34 and a beta of 1.11. The company has a 50 day moving average of $14.46 and a two-hundred day moving average of $14.87.
CNX Midstream Partners (NYSE:CNXM) last released its earnings results on Tuesday, July 30th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. CNX Midstream Partners had a net margin of 56.02% and a return on equity of 39.15%. The company had revenue of $78.10 million during the quarter, compared to the consensus estimate of $71.60 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s revenue was up 28.0% compared to the same quarter last year. On average, sell-side analysts anticipate that CNX Midstream Partners will post 2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.387 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 11.16%. This is an increase from CNX Midstream Partners’s previous quarterly dividend of $0.37. CNX Midstream Partners’s dividend payout ratio (DPR) is currently 82.01%.
Institutional investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC raised its holdings in shares of CNX Midstream Partners by 42.5% during the 2nd quarter. Ballentine Partners LLC now owns 34,630 shares of the pipeline company’s stock valued at $487,000 after purchasing an additional 10,320 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of CNX Midstream Partners by 15.6% during the 1st quarter. Penserra Capital Management LLC now owns 12,600 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 1,700 shares in the last quarter. Comerica Securities Inc. bought a new position in shares of CNX Midstream Partners during the 4th quarter valued at $244,000. Eagle Global Advisors LLC raised its holdings in CNX Midstream Partners by 218.0% in the 1st quarter. Eagle Global Advisors LLC now owns 1,022,330 shares of the pipeline company’s stock worth $15,550,000 after acquiring an additional 700,872 shares during the period. Finally, Advantage Investment Management LLC bought a new position in CNX Midstream Partners in the 2nd quarter worth $260,000. Institutional investors and hedge funds own 47.93% of the company’s stock.
About CNX Midstream Partners
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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