CNX Midstream Partners (NYSE:CNXM) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of CNX Midstream Partners (NYSE:CNXM) from a strong sell rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “CNX Midstream Partners LP is a master limited partnership which owns, operates and develops natural gas gathering and other midstream energy assets primarily in the Marcellus Shale in Pennsylvania and West Virginia. CNX Midstream Partners LP, formerly known as CONE Midstream Partners LP, is based in Canonsburg, PA. “

CNXM has been the topic of several other reports. Wells Fargo & Co upgraded shares of CNX Midstream Partners from an underweight rating to an equal weight rating and upped their target price for the company from $8.00 to $14.00 in a research report on Monday, April 27th. JPMorgan Chase & Co. decreased their target price on shares of CNX Midstream Partners from $13.00 to $9.00 and set an underweight rating on the stock in a research report on Tuesday, April 28th. Citigroup cut shares of CNX Midstream Partners from a buy rating to a hold rating and decreased their target price for the company from $17.00 to $8.00 in a research report on Friday, May 1st. Finally, ValuEngine cut shares of CNX Midstream Partners from a sell rating to a strong sell rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $11.40.

Shares of CNXM stock opened at $6.54 on Tuesday. The company’s fifty day simple moving average is $7.49 and its two-hundred day simple moving average is $11.01. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.50. The stock has a market cap of $587.29 million, a P/E ratio of 2.66 and a beta of 1.08. CNX Midstream Partners has a 52 week low of $5.20 and a 52 week high of $16.94.

CNX Midstream Partners (NYSE:CNXM) last announced its earnings results on Monday, April 27th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.02). The business had revenue of $80.20 million for the quarter, compared to analysts’ expectations of $89.70 million. CNX Midstream Partners had a net margin of 58.78% and a return on equity of 44.70%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. On average, analysts anticipate that CNX Midstream Partners will post 1.54 EPS for the current fiscal year.

In related news, Director Angela A. Minas sold 25,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $7.70, for a total value of $192,500.00. Following the sale, the director now directly owns 21,656 shares of the company’s stock, valued at approximately $166,751.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. bought a new position in CNX Midstream Partners in the 1st quarter worth about $41,000. Royal Bank of Canada grew its stake in CNX Midstream Partners by 425.3% in the 1st quarter. Royal Bank of Canada now owns 5,311 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 4,300 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in CNX Midstream Partners in the 1st quarter worth about $52,000. Advisor Group Inc. grew its stake in CNX Midstream Partners by 198.2% in the 4th quarter. Advisor Group Inc. now owns 4,700 shares of the pipeline company’s stock worth $78,000 after acquiring an additional 3,124 shares in the last quarter. Finally, Cetera Advisor Networks LLC bought a new position in CNX Midstream Partners in the 1st quarter worth about $166,000. 30.12% of the stock is currently owned by institutional investors.

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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