Mitsubishi UFJ Financial Group reissued their overweight rating on shares of CNX Midstream Partners (NYSE:CNXM) in a report released on Tuesday, October 15th, Zacks.com reports.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded CNX Midstream Partners from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Wednesday, August 7th. ValuEngine upgraded CNX Midstream Partners from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Finally, Barclays set a $16.00 price target on CNX Midstream Partners and gave the company a buy rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $17.25.
Shares of CNX Midstream Partners stock traded down $0.10 on Tuesday, hitting $14.34. 225,605 shares of the company’s stock traded hands, compared to its average volume of 306,251. The company has a market capitalization of $916.95 million, a price-to-earnings ratio of 7.59 and a beta of 1.13. CNX Midstream Partners has a one year low of $12.95 and a one year high of $18.96. The company has a fifty day moving average of $14.09 and a two-hundred day moving average of $14.43. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.27 and a quick ratio of 0.27.
CNX Midstream Partners (NYSE:CNXM) last released its quarterly earnings results on Tuesday, October 29th. The pipeline company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. CNX Midstream Partners had a return on equity of 40.33% and a net margin of 57.05%. The business had revenue of $74.00 million for the quarter, compared to the consensus estimate of $70.60 million. During the same quarter last year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts anticipate that CNX Midstream Partners will post 2.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.16%. This is a boost from CNX Midstream Partners’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Monday, November 4th. CNX Midstream Partners’s payout ratio is presently 84.66%.
A number of institutional investors have recently bought and sold shares of CNXM. Advisor Group Inc. boosted its position 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 valued at $48,000 after acquiring an additional 1,191 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of CNX Midstream Partners in the 3rd quarter worth approximately $72,000. Clarkston Capital Partners LLC purchased a new position in CNX Midstream Partners in the 2nd quarter worth approximately $141,000. LPL Financial LLC purchased a new position in CNX Midstream Partners in the 2nd quarter worth approximately $152,000. Finally, HighTower Advisors LLC purchased a new position in CNX Midstream Partners in the 2nd quarter worth approximately $165,000. 45.40% of the stock is currently owned by institutional investors and hedge funds.
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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