CONE Midstream Partners LP (CNNX) Releases Earnings Results, Beats Expectations By $0.07 EPS

CONE Midstream Partners LP (CNNX) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.35. The company posted revenue of $62.30 million in the period, 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.

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 opened for trading at $13.84 and hit $14 on the upside on Wednesday, eventually ending the session at $13.99, with a gain of 1.60% or 0.22 points. The heightened volatility saw the trading volume jump to 97,405 shares. Company has a market cap of $816 M.

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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