CNX Midstream Partners (CNXM) Reaches New 52-Week Low at $14.52

CNX Midstream Partners LP (NYSE:CNXM) shares hit a new 52-week low on Friday . The company traded as low as $14.52 and last traded at $14.62, with a volume of 4676 shares changing hands. The stock had previously closed at $14.95.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of CNX Midstream Partners from a “buy” rating to a “sell” rating in a research note on Tuesday, February 5th. ValuEngine lowered shares of CNX Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Wells Fargo & Co lowered shares of CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered shares of CNX Midstream Partners from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $24.00 to $20.00 in a research report on Tuesday, February 5th. Finally, Robert W. Baird lowered shares of CNX Midstream Partners from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $18.00 in a research report on Thursday, March 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.33.

The firm has a market cap of $956.69 million, a P/E ratio of 7.63, a price-to-earnings-growth ratio of 0.52 and a beta of 1.29. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.62 and a current ratio of 0.62.



CNX Midstream Partners (NYSE:CNXM) last released its quarterly earnings results on Thursday, January 31st. The pipeline company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.13. CNX Midstream Partners had a net margin of 52.22% and a return on equity of 32.52%. The business had revenue of $70.82 million for the quarter, compared to the consensus estimate of $65.90 million. As a group, equities research analysts expect that CNX Midstream Partners LP will post 2.05 EPS for the current fiscal year.

In other CNX Midstream Partners news, Chairman N J. Deiuliis purchased 6,100 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were acquired at an average cost of $16.30 per share, for a total transaction of $99,430.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its stake in CNX Midstream Partners by 18.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock worth $86,000 after buying an additional 850 shares in the last quarter. Rafferty Asset Management LLC grew its stake in CNX Midstream Partners by 2.2% during the fourth quarter. Rafferty Asset Management LLC now owns 116,491 shares of the pipeline company’s stock worth $1,896,000 after buying an additional 2,554 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in CNX Midstream Partners by 23.7% during the third quarter. Janney Montgomery Scott LLC now owns 19,050 shares of the pipeline company’s stock worth $367,000 after buying an additional 3,650 shares in the last quarter. Tortoise Index Solutions LLC grew its stake in CNX Midstream Partners by 101.6% during the fourth quarter. Tortoise Index Solutions LLC now owns 9,326 shares of the pipeline company’s stock worth $152,000 after buying an additional 4,700 shares in the last quarter. Finally, EJF Capital LLC lifted its holdings in shares of CNX Midstream Partners by 20.0% in the fourth quarter. EJF Capital LLC now owns 30,000 shares of the pipeline company’s stock worth $488,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 52.97% of the company’s stock.

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About CNX Midstream Partners (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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