CONE Midstream Partners LP (CNNX) was Initiated by Stifel to “Buy” and the brokerage firm has set the Price Target at $21. Stifel advised their investors in a research report released on Jul 13, 2016.
Many Wall Street Analysts have commented on CONE Midstream Partners LP. Company shares were Reiterated by Barclays on May 10, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 18 from a previous price target of $12 .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 .
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 opened for trading at $16.76 and hit $17.58 on the upside on Monday, eventually ending the session at $16.74, with a gain of 0.97% or 0.16 points. The heightened volatility saw the trading volume jump to 1,68,020 shares. Company has a market cap of $977 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.