CONE Midstream Partners Q2 Profit Rises

(RTTNews) - CONE Midstream Partners LP (CNNX) posted second-quarter net income attributable to General and Limited Partner Ownership Interest in the company of $14.9 million, up from $13.0 million in the comparable quarter last year. Net income per limited partner unit for the latest second quarter was $0.25.

Total revenue for the current quarter was $47.72 million, compared to $27.81 million in the prior year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.26 on revenue of $43.46 million for the quarter. Analysts' estimates typically exclude special items.

As previously announced, the Board of Directors of the General Partner declared a quarterly cash distribution of $0.22  per unit with respect to the second quarter of 2015.  The distribution payment will be made on August 14, 2015 to unitholders of record at the close of business on August 5, 2015. The distribution, which equates to an annual rate of $0.88 per unit, represents an increase of 3.5% over the prior quarter.