CNX Midstream Partners LP (NYSE:CNXM) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of CNX Midstream Partners LP (NYSE:CNXM) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.67.

Several analysts have recently commented on CNXM shares. Robert W. Baird lowered shares of CNX Midstream Partners from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $18.00 in a research report on Thursday, March 7th. They noted that the move was a valuation call. Wells Fargo & Co lowered CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 19th. Zacks Investment Research raised CNX Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine raised CNX Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 1st. Finally, TheStreet lowered CNX Midstream Partners from a “b-” rating to a “c+” rating in a research report on Friday, June 14th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP raised its holdings in CNX Midstream Partners by 512.3% during the first quarter. First Trust Advisors LP now owns 342,057 shares of the pipeline company’s stock worth $5,203,000 after purchasing an additional 286,197 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of CNX Midstream Partners by 18.3% during the 1st quarter. Clearbridge Investments LLC now owns 3,714,657 shares of the pipeline company’s stock worth $56,500,000 after buying an additional 573,550 shares in the last quarter. OppenheimerFunds Inc. raised its position in shares of CNX Midstream Partners by 4.0% during the 1st quarter. OppenheimerFunds Inc. now owns 2,625,321 shares of the pipeline company’s stock worth $39,931,000 after buying an additional 100,000 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of CNX Midstream Partners by 51.4% during the 1st quarter. CIBC Private Wealth Group LLC now owns 1,228,938 shares of the pipeline company’s stock worth $18,692,000 after buying an additional 417,349 shares in the last quarter. Finally, American Financial Group Inc. raised its position in shares of CNX Midstream Partners by 25.0% during the 1st quarter. American Financial Group Inc. now owns 20,000 shares of the pipeline company’s stock worth $304,000 after buying an additional 4,000 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors.

CNXM stock opened at $14.05 on Friday. The stock has a market cap of $897.32 million, a price-to-earnings ratio of 7.43 and a beta of 1.21. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average price is $14.56. CNX Midstream Partners has a one year low of $13.43 and a one year high of $20.95.

CNX Midstream Partners (NYSE:CNXM) last released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). The firm had revenue of $72.22 million for the quarter, compared to analysts’ expectations of $68.55 million. CNX Midstream Partners had a net margin of 53.32% and a return on equity of 36.16%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, sell-side analysts forecast that CNX Midstream Partners will post 1.94 EPS for the current fiscal year.

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.

Featured Article: Overbought

Receive News & Ratings for CNX Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNX Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.