Pointe Capital Management LLC reduced its stake in shares of Cone Midstream Partners LP (NYSE:CNNX) by 32.8% during the second quarter, Holdings Channel reports. The fund owned 34,925 shares of the pipeline company’s stock after selling 17,062 shares during the period. Pointe Capital Management LLC’s holdings in Cone Midstream Partners were worth $662,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Creative Planning increased its position in shares of Cone Midstream Partners by 80.0% in the first quarter. Creative Planning now owns 54,487 shares of the pipeline company’s stock valued at $1,286,000 after buying an additional 24,214 shares during the last quarter. 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 during the last quarter. Navellier & Associates Inc bought a new position in shares of Cone Midstream Partners during the first quarter valued at approximately $2,155,000. 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Cone Midstream Partners by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 354,470 shares of the pipeline company’s stock valued at $8,369,000 after buying an additional 32,013 shares during the last quarter. 40.91% of the stock is owned by institutional investors and hedge funds.

Cone Midstream Partners LP (NYSE CNNX) opened at 17.91 on Friday. Cone Midstream Partners LP has a 1-year low of $17.13 and a 1-year high of $25.56. The company has a market cap of $1.14 billion, a P/E ratio of 11.01 and a beta of 1.64. The stock’s 50 day moving average is $19.15 and its 200 day moving average is $21.32.

Cone Midstream Partners (NYSE:CNNX) last announced its quarterly earnings data 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 firm had revenue of $56.50 million during the quarter, compared to analyst estimates of $60.15 million. Cone Midstream Partners had a net margin of 45.95% and a return on equity of 14.15%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. Equities analysts anticipate that Cone Midstream Partners LP will post $1.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be issued a $0.2922 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.53%. This is a positive change from Cone Midstream Partners’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 2nd. Cone Midstream Partners’s payout ratio is presently 70.06%.

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Several equities analysts recently commented on CNNX shares. Citigroup Inc. reissued a “neutral” rating and issued a $25.00 price objective (up previously from $21.00) on shares of Cone Midstream Partners in a research note on Tuesday, April 25th. Zacks Investment Research raised shares of Cone Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, April 25th. Royal Bank Of Canada downgraded shares of Cone Midstream Partners from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $26.00 to $22.00 in a research note on Monday, May 8th. ValuEngine downgraded shares of Cone Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded shares of Cone Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $22.78.

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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