Noble Midstream Partners (NYSE:NBLX) had its target price trimmed by Barclays from $59.00 to $56.00 in a research report report published on Friday morning. The firm currently has an overweight rating on the energy company’s stock.
NBLX has been the topic of a number of other research reports. Credit Suisse Group assumed coverage on Noble Midstream Partners in a research note on Thursday. They issued an outperform rating and a $47.00 target price on the stock. Citigroup upped their target price on Noble Midstream Partners from $56.00 to $64.00 and gave the stock a buy rating in a research note on Tuesday, July 31st. Wells Fargo & Co downgraded Noble Midstream Partners from an outperform rating to a market perform rating in a research report on Monday, September 24th. ValuEngine downgraded Noble Midstream Partners from a sell rating to a strong sell rating in a research report on Tuesday, August 28th. Finally, Bank of America lowered their price target on Noble Midstream Partners from $59.00 to $49.00 and set a buy rating on the stock in a research report on Monday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $55.50.
Shares of NBLX traded down $1.40 during mid-day trading on Friday, reaching $39.40. The company had a trading volume of 505,840 shares, compared to its average volume of 166,921. Noble Midstream Partners has a 52-week low of $33.51 and a 52-week high of $57.98. The company has a quick ratio of 0.45, a current ratio of 0.48 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.57 and a beta of 1.71.
Noble Midstream Partners (NYSE:NBLX) last issued its earnings results on Friday, August 3rd. The energy company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. Noble Midstream Partners had a return on equity of 21.14% and a net margin of 45.55%. The firm had revenue of $121.97 million for the quarter, compared to the consensus estimate of $114.90 million. As a group, equities analysts anticipate that Noble Midstream Partners will post 3.99 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Noble Midstream Partners by 31.2% during the second quarter. Bank of New York Mellon Corp now owns 6,155 shares of the energy company’s stock worth $314,000 after purchasing an additional 1,462 shares in the last quarter. Putnam Investments LLC purchased a new position in Noble Midstream Partners during the second quarter worth approximately $1,639,000. Tower Research Capital LLC TRC purchased a new position in Noble Midstream Partners during the second quarter worth approximately $159,000. Morgan Stanley boosted its position in Noble Midstream Partners by 24.9% during the second quarter. Morgan Stanley now owns 707,259 shares of the energy company’s stock worth $36,112,000 after purchasing an additional 141,108 shares in the last quarter. Finally, Natixis purchased a new position in Noble Midstream Partners during the second quarter worth approximately $2,206,000. Institutional investors own 56.43% of the company’s stock.
About Noble Midstream Partners
Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. The company provides crude oil, natural gas, and water-related midstream services. The company operates in the Denver-Julesburg Basin in Colorado and the Delaware Basin in Texas. The company was founded in 2014 and is based in Houston, Texas.
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