CNX Midstream Partners (NYSE:CNXM) Hits New 1-Year Low at $13.42

Shares of CNX Midstream Partners LP (NYSE:CNXM) hit a new 52-week low on Thursday . The company traded as low as $13.42 and last traded at $13.42, with a volume of 27612 shares changing hands. The stock had previously closed at $13.65.

A number of brokerages have weighed in on CNXM. ValuEngine raised CNX Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, August 7th. Finally, TheStreet downgraded CNX Midstream Partners from a “b-” rating to a “c+” rating in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.50.

The company has a market capitalization of $854.12 million, a P/E ratio of 7.09 and a beta of 1.13. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average price of $14.20 and a 200 day moving average price of $14.57.

CNX Midstream Partners (NYSE:CNXM) last announced its quarterly earnings results on Tuesday, July 30th. The pipeline company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.14. CNX Midstream Partners had a return on equity of 39.15% and a net margin of 56.02%. The company had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $71.60 million. During the same period in the prior year, the company earned $0.43 EPS. CNX Midstream Partners’s revenue was up 28.0% compared to the same quarter last year. On average, research analysts predict that CNX Midstream Partners LP will post 1.97 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC lifted its stake in shares of CNX Midstream Partners by 42.5% in the 2nd quarter. Ballentine Partners LLC now owns 34,630 shares of the pipeline company’s stock valued at $487,000 after acquiring an additional 10,320 shares during the last quarter. Virtus ETF Advisers LLC bought a new position in CNX Midstream Partners during the 2nd quarter worth $2,436,000. BNP Paribas Arbitrage SA raised its position in CNX Midstream Partners by 7.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 51,819 shares of the pipeline company’s stock worth $728,000 after purchasing an additional 3,659 shares during the last quarter. Southeast Asset Advisors Inc. raised its position in CNX Midstream Partners by 95.0% during the 2nd quarter. Southeast Asset Advisors Inc. now owns 260,277 shares of the pipeline company’s stock worth $3,657,000 after purchasing an additional 126,807 shares during the last quarter. Finally, Eagle Global Advisors LLC raised its position in CNX Midstream Partners by 33.5% during the 2nd quarter. Eagle Global Advisors LLC now owns 1,365,150 shares of the pipeline company’s stock worth $19,180,000 after purchasing an additional 342,820 shares during the last quarter. Institutional investors own 46.27% of the company’s stock.

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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