Cumberland Advisors Inc adds CONE Midstream Partners LP (CNNX) to its portfolio

CONE Midstream Partners LP (CNNX) : Cumberland Advisors Inc added new position in CONE Midstream Partners LP during the most recent quarter end. The investment management firm now holds 860 shares of CONE Midstream Partners LP which is valued at $11,249 , the company said in a statement filed on Apr 11, 2016 with the SEC.CONE Midstream Partners LP makes up approximately 0.01% of Cumberland Advisors Inc’s portfolio.

CONE Midstream Partners LP opened for trading at $13 and hit $13.45 on the upside on Friday, eventually ending the session at $13.08, with a gain of 0.62% or 0.08 points. The heightened volatility saw the trading volume jump to 1,89,197 shares. Company has a market cap of $763 M.

Other Hedge Funds, Including , Creative Planning added CNNX to its portfolio by purchasing 11,495 company shares during the most recent quarter which is valued at $146,676.

On the company’s financial health, CONE Midstream Partners LP reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.33. The company had revenue of $58.80 million for the quarter, compared to analysts expectations of $57.28 million. The company’s revenue was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

Many Wall Street Analysts have commented on CONE Midstream Partners LP. Company shares were Reiterated by RBC Capital Mkts on Feb 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 12 from a previous price target of $11 .CONE Midstream Partners LP was Downgraded by BofA/Merrill to ” Neutral” on Feb 17, 2016. CONE Midstream Partners LP was Downgraded by Wells Fargo to ” Market Perform” on Jan 15, 2016.

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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