Brokerages Set CNX Midstream Partners LP (CNXM) Price Target at $22.71

CNX Midstream Partners LP (NYSE:CNXM) has been assigned a consensus rating of “Buy” from the twelve research firms that are presently covering the stock, reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.71.

CNXM has been the subject of several research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $23.00 price objective (up from $21.00) on shares of CNX Midstream Partners in a research report on Friday. ValuEngine upgraded shares of CNX Midstream Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Stifel Nicolaus restated a “buy” rating and set a $22.00 price objective on shares of CNX Midstream Partners in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. upgraded shares of CNX Midstream Partners from a “neutral” rating to an “overweight” rating in a research report on Friday, January 12th.

Shares of CNX Midstream Partners (NYSE:CNXM) traded up $0.53 on Friday, reaching $18.85. 38,676 shares of the company’s stock traded hands, compared to its average volume of 173,213. CNX Midstream Partners has a 1-year low of $15.25 and a 1-year high of $23.98. The firm has a market capitalization of $1,182.16, a P/E ratio of 10.80, a P/E/G ratio of 1.05 and a beta of 1.88. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.20.

CNX Midstream Partners (NYSE:CNXM) last announced its quarterly earnings data on Tuesday, January 30th. The pipeline company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). CNX Midstream Partners had a net margin of 48.53% and a return on equity of 15.38%. The firm had revenue of $61.70 million for the quarter, compared to analyst estimates of $61.48 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. equities analysts expect that CNX Midstream Partners will post 1.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were issued a dividend of $0.3133 per share. The ex-dividend date was Friday, February 2nd. This is an increase from CNX Midstream Partners’s previous quarterly dividend of $0.30. This represents a $1.25 annualized dividend and a dividend yield of 6.65%. CNX Midstream Partners’s dividend payout ratio is 72.67%.

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About CNX Midstream Partners

CNX Midstream Partners LP, formerly CONE Midstream Partners LP, is a master limited partnership formed by CONSOL Energy Inc (CONSOL) and Noble Energy, Inc (Noble Energy). The Company owns, operates, develops and acquires 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.

Analyst Recommendations for CNX Midstream Partners (NYSE:CNXM)

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