CONE Midstream Partners LP (CNNX) is Downgraded by Credit Suisse to Neutral

CONE Midstream Partners LP (CNNX) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Sep 13, 2016.

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.

On the company’s financial health, CONE Midstream Partners LP reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.38. The company had revenue of $58.40 million for the quarter, 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.

CONE Midstream Partners LP closed down -0.29 points or -1.51% at $18.96 with 52,258 shares getting traded on Monday. Post opening the session at $19.18, the shares hit an intraday low of $18.8185 and an intraday high of $19.25 and the price fluctuated in this range throughout the day.Shares ended Monday 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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