Spirit Of America Management Corpny buys $17,212,168 stake in CONE Midstream Partners LP (CNNX)

CONE Midstream Partners LP (CNNX) : Spirit Of America Management Corpny scooped up 41,900 additional shares in CONE Midstream Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 856,753 shares of CONE Midstream Partners LP which is valued at $17,212,168.CONE Midstream Partners LP makes up approximately 2.28% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in CNNX in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 850 shares of CONE Midstream Partners LP which is valued at $17,085.Creative Planning boosted its stake in CNNX in the latest quarter, The investment management firm added 2,373 additional shares and now holds a total of 19,330 shares of CONE Midstream Partners LP which is valued at $372,489. Cutler Group Lp sold out all of its stake in CNNX during the most recent quarter. The investment firm sold 14,894 shares of CNNX which is valued $287,454. Simplex Trading added CNNX to its portfolio by purchasing 776 company shares during the most recent quarter which is valued at $15,085. Catawba Capital Management Va added CNNX to its portfolio by purchasing 15,180 company shares during the most recent quarter which is valued at $295,099. CONE Midstream Partners LP makes up approx 0.07% of Catawba Capital Management Va’s portfolio.

CONE Midstream Partners LP closed down -0.01 points or -0.05% at $20.09 with 1,33,159 shares getting traded on Friday. Post opening the session at $20.13, the shares hit an intraday low of $19.73 and an intraday high of $20.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Many Wall Street Analysts have commented on CONE Midstream Partners LP. CONE Midstream Partners LP was Upgraded by Wells Fargo to ” Outperform” on Oct 5, 2016. CONE Midstream Partners LP was Downgraded by Credit Suisse to ” Neutral” on Sep 13, 2016.

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.

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