Brokerages Anticipate CNX Midstream Partners LP (CNXM) Will Announce Earnings of $0.49 Per Share

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Wall Street analysts expect that CNX Midstream Partners LP (NYSE:CNXM) will report $0.49 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for CNX Midstream Partners’ earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.51. CNX Midstream Partners posted earnings per share of $0.43 in the same quarter last year, which indicates a positive year over year growth rate of 14%. The company is expected to issue its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that CNX Midstream Partners will report full-year earnings of $1.95 per share for the current year, with EPS estimates ranging from $1.88 to $2.02. For the next fiscal year, analysts anticipate that the company will post earnings of $2.13 per share, with EPS estimates ranging from $1.96 to $2.47. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover CNX Midstream Partners.

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

CNXM has been the subject of several research analyst reports. ValuEngine cut CNX Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Robert W. Baird cut CNX Midstream Partners from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $18.00 in a research report on Thursday, March 7th. They noted that the move was a valuation call. Wells Fargo & Co cut CNX Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. cut CNX Midstream Partners from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $24.00 to $20.00 in a research report on Tuesday, February 5th. Finally, Zacks Investment Research cut CNX Midstream Partners from a “buy” rating to a “sell” rating in a research report on Tuesday, February 5th. 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. The company currently has an average rating of “Hold” and an average target price of $21.33.

NYSE:CNXM traded down $0.32 during trading hours on Tuesday, hitting $14.89. The company’s stock had a trading volume of 196,155 shares, compared to its average volume of 242,204. The stock has a market capitalization 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 debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.41. CNX Midstream Partners has a 52-week low of $13.86 and a 52-week high of $21.00.

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

In other news, Chairman N J. Deiuliis bought 6,100 shares of the stock in a transaction on Friday, February 22nd. The shares were bought at an average price of $16.30 per share, with a total value of $99,430.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its holdings in CNX Midstream Partners by 2.3% in the first quarter. Chicago Partners Investment Group LLC now owns 31,442 shares of the pipeline company’s stock valued at $482,000 after purchasing an additional 692 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of CNX Midstream Partners by 18.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the pipeline company’s stock valued at $86,000 after acquiring an additional 850 shares during the last quarter. Squar Milner Financial Services LLC acquired a new stake in shares of CNX Midstream Partners during the first quarter valued at $25,000. Penserra Capital Management LLC boosted its stake in shares of CNX Midstream Partners by 15.6% during the first quarter. Penserra Capital Management LLC now owns 12,600 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in shares of CNX Midstream Partners during the first quarter valued at $30,000. 50.98% of the stock is currently owned by institutional investors.

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. 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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