Morgan Stanley Initiates Coverage on CONE Midstream Partners LP to Equal-weight

Morgan Stanley Initiates Coverage on CONE Midstream Partners LP(NYSE:CNNX). The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Apr 12, 2016.

In a different note, On Mar 30, 2016, JP Morgan said it Maintains its rating on CONE Midstream Partners LP. In the research note, the firm Raises the price-target to $12.00 per share. The shares have been rated ‘Neutral’ by the firm. On Feb 18, 2016, Credit Suisse said it Maintains its rating on CONE Midstream Partners LP. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Outperform’ by the firm. On Feb 17, 2016, Bank of America said it Downgrades its rating on CONE Midstream Partners LP. The shares have been rated ‘Neutral’ by the firm. On Jan 15, 2016, Wells Fargo said it Downgrades its rating on CONE Midstream Partners LP. The shares have been rated ‘Market Perform’ by the firm.

CONE Midstream Partners LP (CNNX) made into the market gainers list on Fridays trading session with the shares advancing 0.62% or 0.08 points. Due to strong positive momentum, the stock ended at $13.08, which is also near the day’s high of $13.45. The stock began the session at $13 and the volume stood at 1,89,197 shares. The 52-week high of the shares is $20.99 and the 52 week low is $7.55. The company has a current market capitalization of $763 M and it has 5,83,43,338 shares in outstanding.

CONE Midstream Partners LP(CNNX) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $58.78M. Analysts had an estimated revenue of $57.28M. Earnings per share were $0.38. Analysts had estimated an EPS of $0.33.

CONE Midstream Partners LP is a master limited partnership formed between CONSOL Energy Inc. (CONSOL) and Noble Energy Inc. (Noble Energy). The Company’s partnership is formed to own operate develop and acquire 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. The Company’s assets include natural gas gathering pipelines and compression and dehydration facilities as well as condensate gathering collection separation and stabilization facilities. Its midstream assets include anchor systems growth systems and additional systems. The Company operates 11 main facilities to provide its compression and/or dehydration services. The Company’s gathering agreements include acreage totaling approximately 516000 net acres in the Marcellus Shale.

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