$71.71 Million in Sales Expected for CNX Midstream Partners LP (CNXM) This Quarter

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Wall Street analysts expect that CNX Midstream Partners LP (NYSE:CNXM) will report $71.71 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for CNX Midstream Partners’ earnings, with the highest sales estimate coming in at $78.60 million and the lowest estimate coming in at $66.20 million. CNX Midstream Partners reported sales of $61.01 million in the same quarter last year, which indicates a positive year over year growth rate of 17.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that CNX Midstream Partners will report full-year sales of $291.03 million for the current fiscal year, with estimates ranging from $274.20 million to $313.30 million. For the next financial year, analysts forecast that the firm will report sales of $332.38 million, with estimates ranging from $321.70 million to $355.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow CNX Midstream Partners.

CNX Midstream Partners (NYSE:CNXM) last released its earnings results on Tuesday, April 30th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $72.22 million during the quarter, compared to analyst estimates of $68.55 million. CNX Midstream Partners had a net margin of 53.32% and a return on equity of 36.16%. CNX Midstream Partners’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS.

Several research firms recently issued reports on CNXM. Zacks Investment Research lowered shares of CNX Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Wells Fargo & Co lowered shares of CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 19th. Robert W. Baird lowered shares of CNX Midstream Partners from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $25.00 to $18.00 in a report on Thursday, March 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered shares of CNX Midstream Partners from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $24.00 to $20.00 in a report on Tuesday, February 5th. Finally, ValuEngine lowered shares of CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $21.33.

In related news, Chairman N J. Deiuliis acquired 6,100 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were purchased at an average price of $16.30 per share, for a total transaction of $99,430.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Several institutional investors and hedge funds have recently bought and sold shares of CNXM. Squar Milner Financial Services LLC bought a new stake in CNX Midstream Partners in the 1st quarter worth about $25,000. Cresset Asset Management LLC bought a new stake in CNX Midstream Partners in the 1st quarter worth about $30,000. PNC Financial Services Group Inc. grew its position in CNX Midstream Partners by 18.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock worth $86,000 after purchasing an additional 850 shares in the last quarter. Tortoise Index Solutions LLC grew its position in CNX Midstream Partners by 101.6% in the 4th quarter. Tortoise Index Solutions LLC now owns 9,326 shares of the pipeline company’s stock worth $152,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in CNX Midstream Partners in the 4th quarter worth about $161,000. Institutional investors own 50.98% of the company’s stock.

CNXM stock traded down $0.32 during midday trading on Thursday, hitting $14.89. The stock had a trading volume of 196,155 shares, compared to its average volume of 242,204. The firm has a market cap of $948.95 million, a price-to-earnings ratio of 7.88, a PEG ratio of 0.54 and a beta of 1.28. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.30. CNX Midstream Partners has a 1-year low of $13.86 and a 1-year high of $21.00.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Monday, May 6th were issued a dividend of $0.3732 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.49 annualized dividend and a dividend yield of 10.03%. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.36. CNX Midstream Partners’s dividend payout ratio is currently 78.84%.

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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