CNX Midstream Partners (CNXM) Scheduled to Post Quarterly Earnings on Tuesday

CNX Midstream Partners (NYSE:CNXM) is set to issue its quarterly earnings data before the market opens on Tuesday, October 30th. Analysts expect the company to announce earnings of $0.43 per share for the quarter.

CNX Midstream Partners (NYSE:CNXM) last released its earnings results on Thursday, August 2nd. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $61.00 million during the quarter, compared to analyst estimates of $64.10 million. CNX Midstream Partners had a return on equity of 19.10% and a net margin of 46.16%. CNX Midstream Partners’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect CNX Midstream Partners to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NYSE:CNXM opened at $18.14 on Friday. The firm has a market capitalization of $1.15 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.75 and a beta of 1.70. CNX Midstream Partners has a 12-month low of $15.73 and a 12-month high of $21.05. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.08.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Monday, November 5th will be issued a $0.3479 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.34. This represents a $1.39 dividend on an annualized basis and a yield of 7.67%. CNX Midstream Partners’s dividend payout ratio (DPR) is 77.91%.

A number of research analysts recently issued reports on the company. ValuEngine lowered CNX Midstream Partners from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded CNX Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a report on Tuesday, July 10th. Finally, Mitsubishi UFJ Financial Group assumed coverage on CNX Midstream Partners in a report on Friday, October 5th. They issued an “overweight” rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.88.

In other CNX Midstream Partners news, major shareholder Nbl Midstream, Llc sold 14,217,198 shares of CNX Midstream Partners stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $17.75, for a total transaction of $252,355,264.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

About CNX Midstream Partners

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.

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Earnings History for CNX Midstream Partners (NYSE:CNXM)

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