Eagle Global Advisors LLC grew its stake in shares of CNX Midstream Partners LP (NYSE:CNXM) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,458 shares of the pipeline company’s stock after acquiring an additional 21,458 shares during the quarter. Eagle Global Advisors LLC’s holdings in CNX Midstream Partners were worth $5,233,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. acquired a new position in shares of CNX Midstream Partners during the third quarter valued at about $96,250,000. Kayne Anderson Capital Advisors LP increased its holdings in CNX Midstream Partners by 293.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,843,400 shares of the pipeline company’s stock worth $54,725,000 after buying an additional 2,120,000 shares during the period. Clearbridge Investments LLC increased its holdings in CNX Midstream Partners by 3.3% in the 3rd quarter. Clearbridge Investments LLC now owns 2,341,107 shares of the pipeline company’s stock worth $45,066,000 after buying an additional 75,000 shares during the period. Morgan Stanley increased its holdings in CNX Midstream Partners by 3.2% in the 3rd quarter. Morgan Stanley now owns 893,241 shares of the pipeline company’s stock worth $17,195,000 after buying an additional 27,290 shares during the period. Finally, Cohen & Steers Inc. increased its holdings in CNX Midstream Partners by 464.1% in the 3rd quarter. Cohen & Steers Inc. now owns 847,196 shares of the pipeline company’s stock worth $16,309,000 after buying an additional 697,006 shares during the period. Hedge funds and other institutional investors own 52.31% of the company’s stock.
CNX Midstream Partners stock traded down $0.96 during mid-day trading on Thursday, hitting $16.53. The company had a trading volume of 3,872 shares, compared to its average volume of 251,469. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.14. CNX Midstream Partners LP has a 12-month low of $15.25 and a 12-month high of $21.00. The firm has a market cap of $1.11 billion, a PE ratio of 9.61, a P/E/G ratio of 0.49 and a beta of 1.46.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 13th. Stockholders of record on Tuesday, February 5th will be given a dividend of $0.3603 per share. This is a positive change from CNX Midstream Partners’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, February 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.72%. CNX Midstream Partners’s dividend payout ratio (DPR) is 80.81%.
Several equities analysts recently weighed in on CNXM shares. Zacks Investment Research downgraded shares of CNX Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, December 19th. Mitsubishi UFJ Financial Group started coverage on shares of CNX Midstream Partners in a report on Friday, October 5th. They issued an “overweight” rating and a $24.00 price target on the stock. ValuEngine downgraded shares of CNX Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Wells Fargo & Co cut their price target on shares of CNX Midstream Partners from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. CNX Midstream Partners presently has a consensus rating of “Buy” and a consensus target price of $23.50.
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CNX Midstream Partners 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. As of December 31, 2017, the company operates 18 compression and dehydration facilities. It also operates condensate handling facilities with handling capacities of 2,500 Bbl/d each in Majorsville, Pennsylvania, as well as Moundsville, West Virginia that provide condensate gathering, collection, separation, and stabilization services.
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