JPMorgan Chase & Co. Downgrades CNX Midstream Partners (NYSE:CNXM) to Neutral

CNX Midstream Partners (NYSE:CNXM) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Tuesday, February 5th, MarketBeat Ratings reports. They presently have a $20.00 price target on the pipeline company’s stock, down from their prior price target of $24.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 27.31% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of CNX Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. ValuEngine downgraded CNX Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Shares of CNXM traded up $0.20 during midday trading on Tuesday, hitting $15.71. 187,830 shares of the stock traded hands, compared to its average volume of 407,523. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.62 and a current ratio of 0.62. CNX Midstream Partners has a 1-year low of $14.70 and a 1-year high of $21.00. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31.

CNX Midstream Partners (NYSE:CNXM) last released its quarterly earnings data on Thursday, January 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.13. CNX Midstream Partners had a return on equity of 32.52% and a net margin of 52.22%. The firm had revenue of $70.82 million during the quarter, compared to analyst estimates of $65.90 million. Analysts predict that CNX Midstream Partners will post 2.05 EPS for the current year.

In other news, Chairman N J. Deiuliis acquired 6,100 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were acquired at an average cost of $16.30 per share, with a total value of $99,430.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of CNX Midstream Partners by 18.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock worth $86,000 after buying an additional 850 shares in the last quarter. Tortoise Index Solutions LLC boosted its stake in CNX Midstream Partners by 101.6% during the fourth quarter. Tortoise Index Solutions LLC now owns 9,326 shares of the pipeline company’s stock valued at $152,000 after buying an additional 4,700 shares during the period. Advisors Asset Management Inc. bought a new stake in CNX Midstream Partners during the fourth quarter valued at $161,000. Captrust Financial Advisors bought a new stake in CNX Midstream Partners during the third quarter valued at $171,000. Finally, Penserra Capital Management LLC bought a new stake in CNX Midstream Partners during the fourth quarter valued at $177,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

About CNX Midstream Partners

CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. As of December 31, 2017, the company operates 18 compression and dehydration facilities. It also operates condensate handling facilities with handling capacities of 2,500 Bbl/d each in Majorsville, Pennsylvania, as well as Moundsville, West Virginia that provide condensate gathering, collection, separation, and stabilization services.

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Analyst Recommendations for CNX Midstream Partners (NYSE:CNXM)

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