Cone Midstream Partners LP (NYSE:CNNX) posted its quarterly earnings data on Thursday. The pipeline company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43, Briefing.com reports. Cone Midstream Partners had a net margin of 48.40% and a return on equity of 15.23%. The company had revenue of $56.69 million for the quarter, compared to analyst estimates of $62.96 million. During the same period in the previous year, the business posted $0.40 earnings per share. Cone Midstream Partners’s quarterly revenue was down 6.6% on a year-over-year basis.
Shares of Cone Midstream Partners (NYSE CNNX) traded down $0.18 on Friday, reaching $16.90. 179,996 shares of the company’s stock traded hands, compared to its average volume of 210,366. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.22. Cone Midstream Partners has a one year low of $15.25 and a one year high of $25.56. The firm has a market capitalization of $1,070.00, a price-to-earnings ratio of 9.94, a P/E/G ratio of 0.88 and a beta of 1.64.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd will be given a dividend of $0.3025 per share. This is a positive change from Cone Midstream Partners’s previous quarterly dividend of $0.29. This represents a $1.21 annualized dividend and a yield of 7.16%. The ex-dividend date is Thursday, November 2nd. Cone Midstream Partners’s dividend payout ratio is presently 71.18%.
CNNX has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 14th. Barclays PLC upgraded shares of Cone Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, July 18th. BidaskClub upgraded shares of Cone Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Bank of America Corporation dropped their price target on shares of Cone Midstream Partners from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $25.00 price target on shares of Cone Midstream Partners in a research note on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.29.
About Cone Midstream Partners
CONE Midstream Partners LP is a master limited partnership formed by CONSOL Energy Inc (CONSOL) and Noble Energy, Inc (Noble Energy). The Company owns, operates, develops and acquires natural gas gathering and other midstream energy assets to service CONSOL’s and Noble Energy’s production in the Marcellus Shale in Pennsylvania and West Virginia.
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