Cone Midstream Partners LP (NYSE:CNNX)’s share price hit a new 52-week low on Friday . The stock traded as low as $16.19 and last traded at $16.18, with a volume of 154,019 shares trading hands. The stock had previously closed at $16.65.

Several equities analysts recently weighed in on CNNX shares. BidaskClub raised shares of Cone Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 2nd. ValuEngine lowered shares of Cone Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley cut their price objective on shares of Cone Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, July 14th. Bank of America Corporation cut their price objective on shares of Cone Midstream Partners from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $24.00 price objective on shares of Cone Midstream Partners in a research report on Thursday, September 21st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Cone Midstream Partners presently has an average rating of “Hold” and an average price target of $23.38.

The company’s 50-day moving average price is $17.69 and its 200-day moving average price is $20.06. The stock has a market cap of $1.01 billion, a P/E ratio of 9.47 and a beta of 1.67.

Cone Midstream Partners (NYSE:CNNX) last released its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $56.50 million during the quarter, compared to the consensus estimate of $60.15 million. Cone Midstream Partners had a return on equity of 14.15% and a net margin of 45.95%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities research analysts forecast that Cone Midstream Partners LP will post $1.72 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ibex Wealth Advisors boosted its holdings in shares of Cone Midstream Partners by 100.0% in the 1st quarter. Ibex Wealth Advisors now owns 6,956 shares of the pipeline company’s stock valued at $161,000 after buying an additional 3,478 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of Cone Midstream Partners by 3.4% in the 2nd quarter. Global X Management Co. LLC now owns 7,616 shares of the pipeline company’s stock valued at $144,000 after buying an additional 247 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Cone Midstream Partners by 2.3% in the 1st quarter. Stifel Financial Corp now owns 9,514 shares of the pipeline company’s stock valued at $225,000 after buying an additional 211 shares during the last quarter. Linscomb & Williams Inc. boosted its holdings in shares of Cone Midstream Partners by 0.4% in the 2nd quarter. Linscomb & Williams Inc. now owns 15,125 shares of the pipeline company’s stock valued at $287,000 after buying an additional 65 shares during the last quarter. Finally, Franklin Square Holdings L.P. acquired a new stake in shares of Cone Midstream Partners in the 1st quarter valued at approximately $385,000. 36.98% of the stock is owned by institutional investors.

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Cone Midstream Partners Company Profile

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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