CNX Midstream Partners LP (NYSE:CNXM) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 267,209 shares, a decline of 57.4% from the February 15th total of 627,567 shares. Based on an average trading volume of 219,087 shares, the days-to-cover ratio is presently 1.2 days.
Several brokerages have recently commented on CNXM. Stifel Nicolaus reissued a “buy” rating and issued a $22.00 target price on shares of CNX Midstream Partners in a report on Wednesday, January 17th. JPMorgan Chase & Co. raised CNX Midstream Partners from a “neutral” rating to an “overweight” rating in a report on Friday, January 12th. ValuEngine raised CNX Midstream Partners from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird set a $24.00 target price on CNX Midstream Partners and gave the stock a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research downgraded CNX Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. CNX Midstream Partners currently has an average rating of “Hold” and a consensus target price of $23.38.
CNX Midstream Partners (NYSE:CNXM) opened at $19.86 on Friday. The company has a market capitalization of $1,220.00, a P/E ratio of 11.55, a PEG ratio of 1.08 and a beta of 1.88. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. CNX Midstream Partners has a 1-year low of $15.25 and a 1-year high of $23.98.
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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.
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