CNX Midstream Partners LP (NYSE:CNXM) shares shot up 0.5% on Wednesday . The stock traded as high as $8.12 and last traded at $8.16, 20,864 shares changed hands during mid-day trading. A decline of 99% from the average session volume of 2,179,308 shares. The stock had previously closed at $8.12.
CNXM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut shares of CNX Midstream Partners from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $17.00 to $16.00 in a report on Wednesday, January 29th. Zacks Investment Research upgraded shares of CNX Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Wells Fargo & Co lowered shares of CNX Midstream Partners from an “equal weight” rating to an “underweight” rating and set a $14.00 target price on the stock. in a research report on Tuesday, January 7th. ValuEngine lowered shares of CNX Midstream Partners from a “hold” rating to a “sell” rating in a research report on Saturday, February 1st. Finally, TheStreet lowered shares of CNX Midstream Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.50.
The company has a debt-to-equity ratio of 1.55, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50 day simple moving average is $11.31 and its 200 day simple moving average is $13.94. The company has a market capitalization of $715.63 million, a PE ratio of 3.18 and a beta of 1.24.
CNX Midstream Partners (NYSE:CNXM) last issued its earnings results on Thursday, January 30th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.18. CNX Midstream Partners had a net margin of 57.00% and a return on equity of 40.37%. The company had revenue of $81.50 million for the quarter, compared to the consensus estimate of $73.90 million. During the same period in the previous year, the firm earned $0.59 earnings per share. CNX Midstream Partners’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that CNX Midstream Partners LP will post 2.07 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new stake in CNX Midstream Partners during the 4th quarter worth approximately $49,000. Advisor Group Inc. raised its position 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 valued at $78,000 after purchasing an additional 3,124 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in CNX Midstream Partners during the 3rd quarter worth $72,000. Arlington Partners LLC purchased a new position in CNX Midstream Partners during the 4th quarter worth $123,000. Finally, Barclays PLC raised its position in CNX Midstream Partners by 105.8% during the 4th quarter. Barclays PLC now owns 11,442 shares of the pipeline company’s stock worth $188,000 after buying an additional 5,881 shares during the last quarter. 30.31% of the stock is currently owned by institutional investors and hedge funds.
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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