Analysts Expect CNX Midstream Partners LP (CNXM) Will Post Earnings of $0.51 Per Share

Wall Street brokerages expect CNX Midstream Partners LP (NYSE:CNXM) to post earnings of $0.51 per share for the current quarter, according to Zacks. Two analysts have issued estimates for CNX Midstream Partners’ earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.55. CNX Midstream Partners reported earnings per share of $0.40 in the same quarter last year, which suggests a positive year-over-year growth rate of 27.5%. The business is scheduled to report its next quarterly earnings results on Thursday, May 2nd.

On average, analysts expect that CNX Midstream Partners will report full year earnings of $2.05 per share for the current financial year, with EPS estimates ranging from $1.99 to $2.14. For the next fiscal year, analysts expect that the company will post earnings of $2.20 per share, with EPS estimates ranging from $1.97 to $2.56. Zacks’ EPS averages are a mean average based on a survey of research firms that cover CNX Midstream Partners.

CNX Midstream Partners (NYSE:CNXM) last announced its earnings results on Thursday, January 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.13. CNX Midstream Partners had a net margin of 52.22% and a return on equity of 32.52%. The business had revenue of $70.82 million during the quarter, compared to the consensus estimate of $65.90 million.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, December 28th. JPMorgan Chase & Co. downgraded shares of CNX Midstream Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $20.00 in a research note on Tuesday, February 5th. ValuEngine downgraded shares of CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 2nd. Finally, Wells Fargo & Co reduced their price objective on shares of CNX Midstream Partners from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. CNX Midstream Partners has a consensus rating of “Hold” and an average price target of $23.00.

Several large investors have recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. bought a new stake in shares of CNX Midstream Partners in the 3rd quarter worth approximately $96,250,000. Kayne Anderson Capital Advisors LP boosted its holdings in shares of CNX Midstream Partners by 293.1% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,843,400 shares of the pipeline company’s stock worth $54,725,000 after buying an additional 2,120,000 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of CNX Midstream Partners by 3.3% during the 3rd quarter. Clearbridge Investments LLC now owns 2,341,107 shares of the pipeline company’s stock worth $45,066,000 after buying an additional 75,000 shares during the period. Morgan Stanley boosted its holdings in CNX Midstream Partners by 3.2% in the 3rd quarter. Morgan Stanley now owns 893,241 shares of the pipeline company’s stock valued at $17,195,000 after purchasing an additional 27,290 shares during the period. Finally, Cohen & Steers Inc. boosted its holdings in CNX Midstream Partners by 464.1% in the 3rd quarter. Cohen & Steers Inc. now owns 847,196 shares of the pipeline company’s stock valued at $16,309,000 after purchasing an additional 697,006 shares during the period. 53.34% of the stock is owned by institutional investors and hedge funds.

Shares of CNXM traded up $0.11 during mid-day trading on Monday, hitting $15.15. 210,400 shares of the company’s stock were exchanged, compared to its average volume of 365,789. CNX Midstream Partners has a fifty-two week low of $14.70 and a fifty-two week high of $21.00. The company has a market capitalization of $957.30 million, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 0.52 and a beta of 1.31. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.62 and a current ratio of 0.62.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 13th. Investors of record on Tuesday, February 5th will be paid a dividend of $0.3603 per share. This is an increase from CNX Midstream Partners’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, February 4th. This represents a $1.44 annualized dividend and a yield of 9.51%. CNX Midstream Partners’s payout ratio is 76.19%.

CNX Midstream Partners Company Profile

CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. As of December 31, 2017, the company operates 18 compression and dehydration facilities. It also operates condensate handling facilities with handling capacities of 2,500 Bbl/d each in Majorsville, Pennsylvania, as well as Moundsville, West Virginia that provide condensate gathering, collection, separation, and stabilization services.

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Earnings History and Estimates for CNX Midstream Partners (NYSE:CNXM)

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