Noble Midstream Partners LP (NBLX) Given a $50.00 Price Target at Scotiabank
Noble Midstream Partners LP (NYSE:NBLX) received a $50.00 price target from analysts at Scotiabank in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the energy company’s stock. Scotiabank’s target price suggests a potential upside of 6.72% from the company’s current price.
NBLX has been the topic of several other reports. Zacks Investment Research lowered Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Barclays PLC set a $55.00 target price on Noble Midstream Partners and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Finally, Johnson Rice assumed coverage on Noble Midstream Partners in a report on Friday, March 24th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $43.45.
Shares of Noble Midstream Partners (NYSE:NBLX) traded up 3.88% during mid-day trading on Thursday, reaching $46.85. The company had a trading volume of 32,992 shares. The firm has a 50-day moving average price of $46.50 and a 200-day moving average price of $45.32. The stock has a market capitalization of $1.49 billion and a price-to-earnings ratio of 30.13. Noble Midstream Partners has a 1-year low of $26.00 and a 1-year high of $53.29.
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Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Noble Midstream Partners by 2,540.5% in the first quarter. Tower Research Capital LLC TRC now owns 5,149 shares of the energy company’s stock valued at $268,000 after buying an additional 4,954 shares during the last quarter. BP Capital Fund Advisors LLC acquired a new position in shares of Noble Midstream Partners during the first quarter worth about $2,152,000. Signaturefd LLC acquired a new position in shares of Noble Midstream Partners during the first quarter worth about $380,000. Bank of America Corp DE boosted its position in shares of Noble Midstream Partners by 2,948.7% in the first quarter. Bank of America Corp DE now owns 91,582 shares of the energy company’s stock worth $4,769,000 after buying an additional 88,578 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Noble Midstream Partners by 27.6% in the first quarter. UBS Group AG now owns 298,998 shares of the energy company’s stock worth $15,572,000 after buying an additional 64,741 shares in the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.
About Noble Midstream Partners
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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