CONE Midstream Partners LP (CNNX) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 18

CONE Midstream Partners LP (CNNX) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $12 . Barclays advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on CONE Midstream Partners LP. Company shares were Upgraded by RBC Capital Mkts on May 6, 2016 to ” Outperform”, Firm has raised the Price Target to $ 20 from a previous price target of $12 .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.

On the company’s financial health, CONE Midstream Partners LP reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.35. The company had revenue of $62.30 million for the quarter, compared to analysts expectations of $59.50 million. The company’s revenue was up 44.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

CONE Midstream Partners LP closed down -0.06 points or -0.39% at $15.14 with 1,18,276 shares getting traded on Friday. Post opening the session at $15.95, the shares hit an intraday low of $14.98 and an intraday high of $15.99 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

CONE Midstream Partners LP

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