CNX Midstream Partners LP (NYSE:CNXM) Given Consensus Rating of “Hold” by Brokerages

Shares of CNX Midstream Partners LP (NYSE:CNXM) have earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $20.67.

A number of equities analysts have recently weighed in on the company. TheStreet lowered CNX Midstream Partners from a “b-” rating to a “c+” rating in a research note on Friday, June 14th. Zacks Investment Research upgraded CNX Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine lowered CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, June 14th.

Institutional investors have recently bought and sold shares of the business. Squar Milner Financial Services LLC bought a new position in CNX Midstream Partners during the 1st quarter worth $25,000. Advisor Group Inc. increased its stake in CNX Midstream Partners by 54.1% during the 2nd quarter. Advisor Group Inc. now owns 3,392 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 1,191 shares during the period. PNC Financial Services Group Inc. increased its stake in CNX Midstream Partners by 18.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock worth $86,000 after acquiring an additional 850 shares during the period. Clarkston Capital Partners LLC bought a new position in CNX Midstream Partners during the 2nd quarter worth $141,000. Finally, Penserra Capital Management LLC increased its stake in 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 worth $191,000 after acquiring an additional 1,700 shares during the period. Hedge funds and other institutional investors own 49.29% of the company’s stock.

Shares of NYSE CNXM traded up $0.51 during trading hours on Wednesday, reaching $15.68. 866,400 shares of the stock were exchanged, compared to its average volume of 297,637. The company has a market cap of $987.18 million, a price-to-earnings ratio of 8.30 and a beta of 1.11. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.30. CNX Midstream Partners has a 52 week low of $13.43 and a 52 week high of $20.95. The company’s fifty day simple moving average is $14.28.

CNX Midstream Partners (NYSE:CNXM) last announced its earnings results on Tuesday, July 30th. The pipeline company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.14. The company had revenue of $78.10 million for the quarter, compared to analyst estimates of $71.60 million. CNX Midstream Partners had a return on equity of 36.16% and a net margin of 53.32%. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. On average, research analysts predict that CNX Midstream Partners will post 1.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.387 per share. This represents a $1.55 dividend on an annualized basis and a yield of 9.87%. The ex-dividend date is Monday, August 5th. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.37. CNX Midstream Partners’s dividend payout ratio (DPR) is 78.84%.

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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