Brokerages Expect CNX Midstream Partners LP (CNXM) Will Post Earnings of $0.42 Per Share

Wall Street brokerages predict that CNX Midstream Partners LP (NYSE:CNXM) will report earnings per share (EPS) of $0.42 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for CNX Midstream Partners’ earnings, with estimates ranging from $0.36 to $0.46. CNX Midstream Partners posted earnings per share of $0.44 during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.5%. The company is scheduled to issue its next earnings results on Monday, August 6th.

According to Zacks, analysts expect that CNX Midstream Partners will report full year earnings of $1.74 per share for the current year, with EPS estimates ranging from $1.67 to $1.82. For the next year, analysts expect that the company will post earnings of $2.34 per share, with EPS estimates ranging from $2.00 to $2.62. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow CNX Midstream Partners.

CNX Midstream Partners (NYSE:CNXM) last posted its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $63.90 million for the quarter, compared to analyst estimates of $62.41 million. CNX Midstream Partners had a net margin of 46.60% and a return on equity of 16.46%. CNX Midstream Partners’s revenue was up 8.3% compared to the same quarter last year.



A number of equities analysts recently weighed in on the stock. ValuEngine upgraded shares of CNX Midstream Partners from a “sell” rating to a “hold” rating in a research report on Saturday, May 12th. Zacks Investment Research upgraded shares of CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, May 15th. Stifel Nicolaus boosted their price target on shares of CNX Midstream Partners from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Sunday, March 18th. JPMorgan Chase restated an “overweight” rating and set a $24.00 price target (up from $23.00) on shares of CNX Midstream Partners in a research report on Wednesday, March 14th. Finally, Robert W. Baird set a $24.00 price target on shares of CNX Midstream Partners and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.44.

CNX Midstream Partners traded down $0.20, reaching $19.11, on Tuesday, according to Marketbeat Ratings. 55,469 shares of the company’s stock were exchanged, compared to its average volume of 67,572. The firm has a market capitalization of $1.22 billion, a PE ratio of 11.11, a PEG ratio of 0.74 and a beta of 1.76. CNX Midstream Partners has a twelve month low of $15.25 and a twelve month high of $22.35. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Friday, May 4th were issued a $0.324 dividend. This represents a $1.30 annualized dividend and a yield of 6.78%. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 3rd. CNX Midstream Partners’s payout ratio is presently 75.58%.

Large investors have recently bought and sold shares of the business. Barclays PLC acquired a new position in CNX Midstream Partners in the 1st quarter valued at about $119,000. Stifel Financial Corp acquired a new position in CNX Midstream Partners in the 1st quarter valued at about $200,000. BB&T Securities LLC acquired a new position in CNX Midstream Partners in the 1st quarter valued at about $239,000. Linscomb & Williams Inc. acquired a new position in CNX Midstream Partners in the 1st quarter valued at about $273,000. Finally, Neuberger Berman Group LLC acquired a new position in CNX Midstream Partners in the 1st quarter valued at about $283,000. Institutional investors own 19.25% of the company’s stock.

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. As of December 31, 2017, the company operates 18 compression and dehydration facilities. It also operates condensate handling facilities with handling capacities of 2,500 Bbl/d each in Majorsville, Pennsylvania, as well as Moundsville, West Virginia that provide condensate gathering, collection, separation, and stabilization services.

Get a free copy of the Zacks research report on CNX Midstream Partners (CNXM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CNX Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNX Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply