Barclays analyst Christopher Tillett maintained a Hold rating on CNX Midstream Partners (CNXM) yesterday and set a price target of $8.00. The company’s shares closed last Friday at $6.74, close to its 52-week low of $5.20.
According to TipRanks.com, Tillett is a 3-star analyst with an average return of 1.9% and a 47.6% success rate. Tillett covers the Services sector, focusing on stocks such as Noble Midstream Partners, Altus Midstream Company, and Equitrans Midstream.
The word on The Street in general, suggests a Hold analyst consensus rating for CNX Midstream Partners with a $8.00 average price target.
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Based on CNX Midstream Partners’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $80.13 million and net profit of $45.22 million. In comparison, last year the company earned revenue of $72.22 million and had a net profit of $35.11 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CNXM in relation to earlier this year.
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CNX Midstream Partners LP owns, operates, develops, and acquires natural gas gathering and other midstream energy assets in the Marcellus Shale in Pennsylvania and West Virginia. It operates its business through the following segments: Anchor Systems and Additional Systems. The Anchor Systems segment includes four primary midstream systems such as, the McQuay System, the Majorsville System, the Mamont System and Shirley-Penns System. The Additional Systems segment includes several gathering systems primarily located in the wet gas regions of its acreage. The company was founded on May 30, 2014 and is headquartered in Canonsburg, PA.
