It is currently trading at $19.00 just below the 50 day moving average of $20.28 and which is just under the 200 day moving average of $22.11. The 50 day moving average went down by -6.692% and the 200 day average moved down $-3.18. Cone Midstream Partners LP Comm shares had a trading volume of 67K in the last trading session. Shares saw a steep decrease in trading volume of 53.75% under the normal average daily volume.
Cone Midstream Partners LP Comm (NYSE:CNNX) has been the object of insider buying and selling activity recently. Brian Robert Rich, SEE REMARKS let go of $11,895 worth of shares at an average price of $23.79 on Thu the 9th. The SEE REMARKS now owns $3,592 of the stock as reported to the SEC. Angela A. Minas, Director bought $110,000 worth of shares at an average price of $22.00 on December 1st. That brings Minas’s holdings to $500,126 per an SEC filing yesterday.
The following firms have also recently changed their position in CNNX. As of quarter end Catawba Capital Management /va had acquired a total of 7,740 shares growing its holdings by 27.8%. The value of the investment in (CNNX) went from $657,000 to $674,000 increasing 2.6% quarter over quarter. Brookfield Asset Management Inc. cut its position by shedding 124,687 shares a decrease of 75.8%. Brookfield Asset Management Inc. controls 39,713 shares worth $938,000. The value of the position overall is down by 75.8%.
As of the end of the quarter Morgan Stanley had sold 97,208 shares trimming its position 24.5%. The value in dollars decreased from $9,353,000 to $7,082,000 a change of $2,271,000 quarter to quarter. Oakview Capital Management, L.p. reduced its ownership by selling 191,294 shares a decrease of 30.0% from 12/31/2016 to 03/31/2017. Oakview Capital Management, L.p. now controls 446,242 shares with a value of $10,536,000. The total value of its holdings decreased 29.8%.
On May 22 the company was upgraded to “Buy” from “Neutral” by analysts at Citigroup. On October 5 the stock rating was upgraded from “Market Perform” to “Outperform” in a statement from Wells Fargo.
Equity analyst Credit Suisse both downgraded the stock and raised the price target on September 13 changing the price objective from $17.00 to $22.00 and changing the rating from “Outperform” to “Neutral”. On September 13 the stock rating was downgraded from “Outperform” to “Neutral” and a price target of $22.00 was set in an announcement from Credit Suisse.
Janney Capital added the stock to its research portfolio by announcing an initial rating of “Buy” and projecting a price target of $22.00. On July 13 analysts at Stifel Nicolaus starting coverage on the stock giving it an initial rating of “Buy”.
The company is trading up by 0.69% since yesterday’s close of $18.87. Cone Midstream Partners LP Comm recently announced a dividend that was paid on Monday May 15th, 2017. The dividend payment was $0.283 per share for the quarter or $1.13 on an annualized basis. This dividend represents a yield of $6.09. The ex-dividend date was Tuesday the 2nd of May 2017.
The most current P/E ratio is 11.632 and the market value is 1.20B. In the last earnings report the EPS was $1.63 and is estimated to be $1.69 for the current year with 63,585,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.43 and the next full year EPS is projected to be $1.83.
CONE Midstream Partners LP, launched on May 30, 2014, 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. The Business’s assets include natural gas gathering pipelines and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities. It operates through three segments: Anchor Systems, Growth Systems and Additional Systems..