$74.36 Million in Sales Expected for CNX Midstream Partners LP (NYSE:CNXM) This Quarter

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

On average, analysts expect that CNX Midstream Partners will report full year sales of $293.99 million for the current financial year, with estimates ranging from $274.20 million to $313.30 million. For the next fiscal year, analysts anticipate that the business 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 research firms that that provide coverage for CNX Midstream Partners.

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

CNXM has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of CNX Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, August 7th. ValuEngine downgraded shares of CNX Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, June 14th. Finally, TheStreet downgraded shares of CNX Midstream Partners from a “b-” rating to a “c+” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.40.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squar Milner Financial Services LLC acquired a new position in shares of CNX Midstream Partners during the 1st quarter worth about $25,000. Advisor Group Inc. raised its position in shares of CNX Midstream Partners by 54.1% during the 2nd quarter. Advisor Group Inc. now owns 3,392 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 1,191 shares during the last quarter. Clarkston Capital Partners LLC acquired a new position in shares of CNX Midstream Partners during the 2nd quarter worth about $141,000. LPL Financial LLC acquired a new position in shares of CNX Midstream Partners during the 2nd quarter worth about $152,000. Finally, HighTower Advisors LLC acquired a new position in shares of CNX Midstream Partners during the 2nd quarter worth about $165,000. Hedge funds and other institutional investors own 47.93% of the company’s stock.

Shares of CNX Midstream Partners stock traded down $0.11 during trading hours on Thursday, reaching $14.40. The stock had a trading volume of 199,303 shares, compared to its average volume of 303,577. The stock’s 50 day moving average is $14.44 and its 200 day moving average is $14.89. The firm has a market capitalization of $926.46 million, a PE ratio of 7.62 and a beta of 1.11. CNX Midstream Partners has a twelve month low of $13.43 and a twelve month high of $20.95. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.42.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a $0.387 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 10.75%. This is an increase from CNX Midstream Partners’s previous quarterly dividend of $0.37. CNX Midstream Partners’s dividend payout ratio is 82.01%.

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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