Cone Midstream Partners (CNNX) Stock Rises in First Trading Day After IPO

NEW YORK (TheStreet) -- Shares of Cone Midstream Partners  (CNNX) surged in early afternoon trading Thursday, the first day of trading after the company priced its IPO.

Cone, a Master Limited Partnership formed by CONSOL Energy (CNX) and Noble Energy (NBL) to own pipelines in the Marcellus Shale, priced its initial public offering at $22 a share, greater than the previously expected range of $19 to $21 a share. Cone raised $385 million through the offering of 17.5 million shares.

The stock opened at $28.50 and climbed slightly to a high of $29.64 as of 12:01 p.m., by which point more than 9.1 million shares had changed hands.

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CNNX Price Chart CNNX Price data by YCharts

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