Zacks: Brokerages Expect CNX Midstream Partners LP (NYSE:CNXM) Will Announce Quarterly Sales of $74.36 Million

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Analysts expect that CNX Midstream Partners LP (NYSE:CNXM) will report sales of $74.36 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for CNX Midstream Partners’ earnings. The highest sales estimate is $80.80 million and the lowest is $67.60 million. CNX Midstream Partners posted sales of $60.97 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22%. The business is expected to issue its next earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that CNX Midstream Partners will report full-year sales of $293.99 million for the current year, with estimates ranging from $274.20 million to $313.30 million. For the next financial year, analysts forecast that the company will post sales of $333.13 million, with estimates ranging from $321.70 million to $355.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover CNX Midstream Partners.

CNX Midstream Partners (NYSE:CNXM) last issued its quarterly earnings results on Tuesday, July 30th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. The company had revenue of $78.10 million for the quarter, compared to the consensus estimate of $71.60 million. CNX Midstream Partners had a return on equity of 39.15% and a net margin of 56.02%. CNX Midstream Partners’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 earnings per share.

A number of equities research analysts recently issued reports on CNXM shares. TheStreet lowered CNX Midstream Partners from a “b-” rating to a “c+” rating in a research note on Friday, June 14th. Zacks Investment Research upgraded shares of CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, August 7th. Finally, ValuEngine lowered shares of CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $20.40.

CNXM stock traded up $0.46 during trading on Thursday, hitting $14.28. The company had a trading volume of 191,100 shares, compared to its average volume of 389,812. The firm has a market cap of $880.82 million, a PE ratio of 7.56 and a beta of 1.11. CNX Midstream Partners has a 1-year low of $13.43 and a 1-year high of $20.95. The firm has a 50-day moving average price of $14.42 and a 200-day moving average price of $14.90. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.42.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a $0.387 dividend. This is an increase from CNX Midstream Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.55 dividend on an annualized basis and a yield of 10.84%. CNX Midstream Partners’s dividend payout ratio is presently 82.01%.

A number of hedge funds have recently added to or reduced their stakes in the business. Squar Milner Financial Services LLC bought a new position in CNX Midstream Partners in the 1st quarter worth $25,000. Advisor Group Inc. raised its stake in shares of CNX Midstream Partners by 54.1% during the second quarter. Advisor Group Inc. now owns 3,392 shares of the pipeline company’s stock worth $48,000 after buying an additional 1,191 shares during the last quarter. Clarkston Capital Partners LLC bought a new stake in shares of CNX Midstream Partners during the second quarter worth approximately $141,000. LPL Financial LLC bought a new stake in shares of CNX Midstream Partners during the second quarter worth approximately $152,000. Finally, HighTower Advisors LLC bought a new stake in shares of CNX Midstream Partners during the second quarter worth approximately $165,000. Institutional investors own 47.99% of the company’s stock.

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. The company operates through two segments, Anchor Systems and Additional Systems. As of December 31, 2018, the company operated 14 compression and dehydration facilities.

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

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