Bank of America Corp DE cut its stake in Cone Midstream Partners LP (NYSE:CNNX) by 11.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,709 shares of the pipeline company’s stock after selling 9,307 shares during the period. Bank of America Corp DE’s holdings in Cone Midstream Partners were worth $1,623,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CNNX. Cypress Capital Management LLC WY increased its position in shares of Cone Midstream Partners by 47.5% in the first quarter. Cypress Capital Management LLC WY now owns 6,525 shares of the pipeline company’s stock valued at $154,000 after buying an additional 2,100 shares in the last quarter. Stifel Financial Corp increased its position in shares of Cone Midstream Partners by 2.3% in the first 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 in the last quarter. Linscomb & Williams Inc. increased its position in shares of Cone Midstream Partners by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 15,060 shares of the pipeline company’s stock valued at $356,000 after buying an additional 56 shares in the last quarter. Segment Wealth Management LLC increased its position in shares of Cone Midstream Partners by 28.5% in the first quarter. Segment Wealth Management LLC now owns 16,700 shares of the pipeline company’s stock valued at $394,000 after buying an additional 3,700 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of Cone Midstream Partners by 0.4% in the first quarter. Chicago Partners Investment Group LLC now owns 18,172 shares of the pipeline company’s stock valued at $429,000 after buying an additional 72 shares in the last quarter. 40.77% of the stock is currently owned by institutional investors.

Cone Midstream Partners LP (NYSE:CNNX) traded down 0.081% during mid-day trading on Tuesday, hitting $18.395. The stock had a trading volume of 13,637 shares. The stock’s 50 day moving average price is $19.15 and its 200 day moving average price is $21.19. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.995 and a beta of 1.64. Cone Midstream Partners LP has a one year low of $17.13 and a one year high of $25.56.

Cone Midstream Partners (NYSE:CNNX) last announced its earnings results on Monday, August 7th. The pipeline company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $56.50 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Analysts forecast that Cone Midstream Partners LP will post $1.66 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, August 4th were paid a dividend of $0.2922 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.35%. This is a positive change from Cone Midstream Partners’s previous quarterly dividend of $0.28. Cone Midstream Partners’s dividend payout ratio (DPR) is 70.06%.

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A number of analysts have recently issued reports on the company. ValuEngine cut Cone Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Citigroup Inc. upgraded Cone Midstream Partners from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Monday, May 22nd. Zacks Investment Research upgraded Cone Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, April 25th. Stifel Nicolaus restated a “buy” rating and set a $25.00 price objective on shares of Cone Midstream Partners in a research report on Friday. Finally, Morgan Stanley lowered their price objective on 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Cone Midstream Partners has a consensus rating of “Hold” and a consensus price target of $23.00.

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

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