The stock of CONE Midstream Partners LP (NYSE:CNNX) hit a new 52-week high and has $31.68 target or 46.00% above today’s $21.70 share price. The 5 months bullish chart indicates low risk for the $1.27 billion company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $31.68 price target is reached, the company will be worth $584.20M 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 88,827 shares traded hands. CONE Midstream Partners LP (NYSE:CNNX) has risen 69.37% since April 1, 2016 and is uptrending. It has outperformed by 68.15% 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 -25.30% below today’s ($21.7) stock price. CONE Midstream Partners LP has been the topic of 21 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Goldman Sachs maintained CONE Midstream Partners LP (NYSE:CNNX) on Friday, September 11 with “Neutral” rating. The firm has “Buy” rating given on Wednesday, July 13 by Stifel Nicolaus. On Wednesday, November 4 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Credit Suisse downgraded CONE Midstream Partners LP (NYSE:CNNX) on Tuesday, September 13 to “Neutral” rating. As per Thursday, February 18, the company rating was maintained by RBC Capital Markets. The stock has “Neutral” rating given by Goldman Sachs on Thursday, May 12. The firm has “Outperform” rating given on Friday, October 30 by Robert W. Baird. RBC Capital Markets upgraded the shares of CNNX in a report on Friday, May 6 to “Outperform” rating. The stock of CONE Midstream Partners LP (NYSE:CNNX) earned “Neutral” rating by JP Morgan on Wednesday, March 30. The firm earned “Buy” rating on Thursday, September 1 by Janney Capital.
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 recent CONE Midstream Partners LP (NYSE:CNNX) news were published by: Streetinsider.com which released: “CONE Midstream Partners (CNNX) Comments on CONSOL Energy, Noble Energy …” on October 31, 2016. Also Seekingalpha.com published the news titled: “CONE Midstream Partners’ (CNNX) CEO John Lewis on Q2 2016 Results – Earnings …” on August 07, 2016. Zacks.com‘s news article titled: “CONE Midstream Partners (CNNX) in Focus: Stock Rises 6.8%” with publication date: October 24, 2016 was also an interesting one.
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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