CNX Midstream Partners (CNXM) Announces Earnings Results, Beats Estimates By $0.04 EPS

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CNX Midstream Partners (NYSE:CNXM) posted its quarterly earnings data on Tuesday. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04, MarketWatch Earnings reports. CNX Midstream Partners had a net margin of 47.87% and a return on equity of 21.98%. The firm had revenue of $60.97 million for the quarter, compared to analyst estimates of $64.72 million. During the same period last year, the firm posted $0.43 EPS. CNX Midstream Partners’s quarterly revenue was up 7.6% on a year-over-year basis.

Shares of NYSE CNXM traded up $0.15 during trading on Thursday, hitting $18.40. 3,369 shares of the company were exchanged, compared to its average volume of 155,621. The firm has a market capitalization of $1.16 billion, a P/E ratio of 10.70, a PEG ratio of 0.74 and a beta of 1.70. CNX Midstream Partners has a 1 year low of $15.95 and a 1 year high of $21.05. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.56 and a current ratio of 0.56.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Monday, November 5th will be given a dividend of $0.3479 per share. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.34. This represents a $1.39 annualized dividend and a dividend yield of 7.56%. The ex-dividend date is Friday, November 2nd. CNX Midstream Partners’s payout ratio is presently 77.91%.

A number of equities analysts recently weighed in on CNXM shares. ValuEngine upgraded shares of CNX Midstream Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Zacks Investment Research lowered shares of CNX Midstream Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of CNX Midstream Partners in a research report on Friday, October 5th. They issued an “overweight” rating and a $24.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $24.14.

In other CNX Midstream Partners news, major shareholder Nbl Midstream, Llc sold 14,217,198 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $17.75, for a total transaction of $252,355,264.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

About CNX Midstream Partners

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 for CNX Midstream Partners (NYSE:CNXM)

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