The stock of CONE Midstream Partners LP (NYSE:CNNX) hit a new 52-week high and has $37.15 target or 64.00% above today’s $22.65 share price. The 6 months bullish chart indicates low risk for the $1.42B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $37.15 price target is reached, the company will be worth $908.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 30,588 shares traded hands. CONE Midstream Partners LP (NYSE:CNNX) has risen 71.18% since April 15, 2016 and is uptrending. It has outperformed by 66.55% the S&P500.
CONE Midstream Partners LP (NYSE:CNNX) Ratings Coverage
Out of 9 analysts covering CONE Midstream Partners LP (NYSE:CNNX), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. $27 is the highest target while $12 is the lowest. The $16.21 average target is -28.43% below today’s ($22.65) stock price. CONE Midstream Partners LP has been the topic of 21 analyst reports since August 6, 2015 according to StockzIntelligence Inc. JP Morgan maintained it with “Neutral” rating and $14 target price in Wednesday, March 30 report. As per Friday, January 15, the company rating was downgraded by Wells Fargo. The rating was upgraded by Wells Fargo to “Outperform” on Wednesday, October 5. RBC Capital Markets maintained the shares of CNNX in a report on Wednesday, November 4 with “Sector Perform” rating. The company was maintained on Thursday, May 12 by Goldman Sachs. The firm has “Sector Perform” rating given on Thursday, February 18 by RBC Capital Markets. JP Morgan maintained CONE Midstream Partners LP (NYSE:CNNX) rating on Tuesday, May 31. JP Morgan has “Neutral” rating and $16.50 price target. The firm has “Neutral” rating given on Tuesday, September 13 by Credit Suisse. RBC Capital Markets upgraded the shares of CNNX in a report on Friday, May 6 to “Outperform” rating. Robert W. Baird upgraded CONE Midstream Partners LP (NYSE:CNNX) on Friday, October 30 to “Outperform” rating.
According to Zacks Investment Research, “CONE Midstream Partners LP owns, operates, develops and acquires natural gas gathering and other midstream energy assets. The Company’s initial assets include natural gas gathering pipelines and compression and dehydration facilities, condensate gathering, collection, separation and stabilization facilities. CONE Midstream Partners LP is based in Canonsburg, Pennsylvania.”
More important recent CONE Midstream Partners LP (NYSE:CNNX) news were published by: Streetinsider.com which released: “CONE Midstream Partners (CNNX) to Acquire Additional 25% Stake in CONE …” on November 16, 2016, also Nasdaq.com published article titled: “CONE Midstream Partners LP Reports 20% Advance In Q3 Earnings”, Finance.Yahoo.com published: “CONE Midstream Partners (CNNX) in Focus: Stock Rises 6.8%” on October 24, 2016. More interesting news about CONE Midstream Partners LP (NYSE:CNNX) was released by: Seekingalpha.com and their article: “CONE Midstream Partners’ (CNNX) CEO John Lewis on Q2 2016 Results – Earnings …” with publication date: August 07, 2016.
CNNX Company Profile
CONE Midstream Partners LP, incorporated on May 30, 2014, is a master limited partnership formed between CONSOL Energy Inc. (CONSOL) and Noble Energy, Inc. (Noble Energy). The Company’s partnership is formed to own, operate, develop and acquire natural gas gathering and other midstream energy assets to service CONSOL’s and Noble Energy’s production in the Marcellus Shale in Pennsylvania and West Virginia. The Company’s divisions include anchor systems, growth systems and additional systems. The Company’s anchor systems comprise over three primary midstream systems, which are the McQuay System, the Majorsville System and the Mamont System, and related assets. CONSOL is a Pittsburgh energy firm with a focus on natural gas exploration, development and production and coal production. Noble Energy is an independent oil and natural gas exploration and production firm with a diverse resource base. The Company’s assets include natural gas gathering pipelines, and compression and dehydration facilities, as well as condensate gathering, collection, separation and stabilization facilities.
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