CNX Midstream Partners (NYSE:CNXM) Shares Up 5.7%

CNX Midstream Partners LP (NYSE:CNXM)’s stock price shot up 5.7% on Wednesday . The company traded as high as $9.97 and last traded at $9.82. 362,500 shares were traded during trading, a decline of 61% from the average session volume of 925,921 shares. The stock had previously closed at $9.29.

A number of research firms have recently weighed in on CNXM. Zacks Investment Research cut shares of CNX Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. ValuEngine cut shares of CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. CNX Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $11.40.

The stock has a market capitalization of $881.83 million, a price-to-earnings ratio of 4.52 and a beta of 1.12. The stock’s 50 day moving average is $9.53 and its 200 day moving average is $8.45. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 2.00.

CNX Midstream Partners (NYSE:CNXM) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. CNX Midstream Partners had a net margin of 56.42% and a return on equity of 43.05%. The company had revenue of $66.04 million for the quarter. On average, sell-side analysts anticipate that CNX Midstream Partners LP will post 1.54 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in CNXM. Goldman Sachs Group Inc. acquired a new stake in shares of CNX Midstream Partners during the 2nd quarter worth about $13,656,000. HITE Hedge Asset Management LLC acquired a new stake in shares of CNX Midstream Partners during the 2nd quarter worth about $7,951,000. JPMorgan Chase & Co. boosted its stake in shares of CNX Midstream Partners by 103.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,237,791 shares of the pipeline company’s stock worth $18,126,000 after purchasing an additional 1,140,056 shares during the last quarter. Blackstone Group Inc acquired a new stake in shares of CNX Midstream Partners during the 2nd quarter worth about $5,053,000. Finally, HAP Trading LLC boosted its stake in shares of CNX Midstream Partners by 161.6% during the 1st quarter. HAP Trading LLC now owns 170,156 shares of the pipeline company’s stock worth $1,378,000 after purchasing an additional 446,556 shares during the last quarter. 29.83% of the stock is currently owned by institutional investors.

CNX Midstream Partners Company Profile (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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