CONE Midstream Partners LP (CNNX) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.39 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.38. The company posted revenue of $58.40 million in the period, compared to analysts expectations of $61.97 million. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.
Many Wall Street Analysts have commented on CONE Midstream Partners LP. Stifel Initiated CONE Midstream Partners LP on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $21.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 .
CONE Midstream Partners LP closed down -0.416 points or -2.49% at $16.3 with 1,25,799 shares getting traded on Tusday. Post opening the session at $16.75, the shares hit an intraday low of $16.11 and an intraday high of $16.949 and the price fluctuated in this range throughout the day.Shares ended Tusday 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.