HITE Hedge Asset Management LLC lifted its position in shares of Cone Midstream Partners LP (NYSE:CNNX) by 89.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,074 shares of the pipeline company’s stock after acquiring an additional 68,636 shares during the period. Cone Midstream Partners makes up about 0.6% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 29th largest holding. HITE Hedge Asset Management LLC owned approximately 0.42% of Cone Midstream Partners worth $2,298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Global X Management Co. LLC lifted its stake in 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 purchasing an additional 247 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cone Midstream Partners by 1,057.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,397 shares of the pipeline company’s stock valued at $173,000 after purchasing an additional 9,499 shares during the last quarter. Harvest Fund Advisors LLC bought a new position in Cone Midstream Partners in the 3rd quarter valued at approximately $226,000. Linscomb & Williams Inc. raised its stake in shares of Cone Midstream Partners by 0.4% during the second quarter. Linscomb & Williams Inc. now owns 15,125 shares of the pipeline company’s stock valued at $287,000 after acquiring an additional 65 shares during the last quarter. Finally, CNH Partners LLC raised its stake in shares of Cone Midstream Partners by 1.2% during the second quarter. CNH Partners LLC now owns 16,600 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 200 shares during the last quarter. 38.20% of the stock is owned by institutional investors.

Shares of Cone Midstream Partners LP (CNNX) opened at $16.74 on Monday. Cone Midstream Partners LP has a 12-month low of $15.25 and a 12-month high of $25.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $1,060.00, a price-to-earnings ratio of 9.85, a PEG ratio of 0.86 and a beta of 1.64.

Cone Midstream Partners (NYSE:CNNX) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $56.69 million during the quarter, compared to analysts’ expectations of $62.96 million. Cone Midstream Partners had a net margin of 48.40% and a return on equity of 15.22%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the company posted $0.40 earnings per share. research analysts anticipate that Cone Midstream Partners LP will post 1.77 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 7.23%. This is a boost from Cone Midstream Partners’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, November 2nd. Cone Midstream Partners’s dividend payout ratio (DPR) is presently 71.18%.

Several research firms have recently issued reports on CNNX. Stifel Nicolaus reaffirmed a “buy” rating and set a $25.00 price target on shares of Cone Midstream Partners in a research note on Friday, August 11th. BidaskClub downgraded shares of Cone Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $22.00 price target on shares of Cone Midstream Partners in a research note on Monday, October 30th. Bank of America Corporation dropped their price target on shares of Cone Midstream Partners from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Cone Midstream Partners from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Cone Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $22.86.

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Cone Midstream Partners 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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Institutional Ownership by Quarter for Cone Midstream Partners (NYSE:CNNX)

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