CNX Midstream Partners (CNXM) Sets New 12-Month Low at $14.59
CNX Midstream Partners LP (NYSE:CNXM) reached a new 52-week low during trading on Thursday . The stock traded as low as $14.59 and last traded at $14.84, with a volume of 15994 shares changing hands. The stock had previously closed at $14.95.
Several research firms recently commented on CNXM. Zacks Investment Research cut CNX Midstream Partners from a “buy” rating to a “sell” rating in a research report on Tuesday, February 5th. ValuEngine cut CNX Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. JPMorgan Chase & Co. cut CNX Midstream Partners from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, February 5th. Finally, Robert W. Baird cut CNX Midstream Partners from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $18.00 in a research report on Thursday, March 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.25.
The stock has a market capitalization of $953.51 million, a PE ratio of 7.77, a PEG ratio of 0.52 and a beta of 1.29. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.20.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 13th. Investors of record on Tuesday, February 5th were paid a dividend of $0.3603 per share. This represents a $1.44 annualized dividend and a yield of 9.81%. The ex-dividend date of this dividend was Monday, February 4th. This is an increase from CNX Midstream Partners’s previous quarterly dividend of $0.35. CNX Midstream Partners’s dividend payout ratio (DPR) is 76.19%.
In other CNX Midstream Partners news, Chairman N J. Deiuliis bought 6,100 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were bought at an average price of $16.30 per share, with a total value of $99,430.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in CNX Midstream Partners by 18.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock worth $86,000 after acquiring an additional 850 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of CNX Midstream Partners in the 3rd quarter worth approximately $171,000. Tortoise Index Solutions LLC boosted its holdings in shares of CNX Midstream Partners by 101.6% in the 4th quarter. Tortoise Index Solutions LLC now owns 9,326 shares of the pipeline company’s stock worth $152,000 after purchasing an additional 4,700 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of CNX Midstream Partners in the 4th quarter worth approximately $161,000. Finally, Penserra Capital Management LLC purchased a new position in shares of CNX Midstream Partners in the 4th quarter worth approximately $177,000. 53.09% of the stock is currently owned by institutional investors and hedge funds.
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About CNX Midstream Partners (NYSE:CNXM)
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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