Why Cone Midstream Partners LP (NYSE:CNNX) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $18.6900 on Cone Midstream Partners LP (NYSE:CNNX) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.5400 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Cone Midstream Partners LP (NYSE:CNNX) stands at 11.6645.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Cone Midstream Partners LP Comm, the PEG ratio for coming 3-5 years is 1.1400.

Technical Analysis

The technical analysis highlights that Cone Midstream Partners LP Comm current is trading $0.3957 points away or +2.2920% from its 50-day moving average of $17.2644. Further it is trading $3.0810 or +21.1330% away its 200-day moving average of $14.5791.

The 52-week high of Cone Midstream Partners LP (NYSE:CNNX) was $18.6200 while lowest point recorded in 52-week was $7.5500. It implies if stock price makes a movement of over $-0.9599, it will record a new 52-week high. In the case of +133.9086% drop, it will touch a new 52-week low.

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