Noble Midstream Partners (NBLX) Coverage Initiated at Credit Suisse Group

Investment analysts at Credit Suisse Group started coverage on shares of Noble Midstream Partners (NYSE:NBLX) in a report released on Thursday, The Fly reports. The firm set an “outperform” rating on the energy company’s stock.

A number of other equities research analysts have also recently commented on NBLX. ValuEngine raised Noble Midstream Partners from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. BidaskClub cut Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Seaport Global Securities started coverage on Noble Midstream Partners in a research note on Tuesday, October 10th. They issued a “buy” rating and a $60.00 target price on the stock. Zacks Investment Research raised Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, October 18th. Finally, Mizuho set a $53.00 target price on Noble Midstream Partners and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $53.13.

Shares of Noble Midstream Partners (NBLX) traded up $0.78 during mid-day trading on Thursday, reaching $52.72. The company had a trading volume of 241,566 shares, compared to its average volume of 146,533. The stock has a market capitalization of $1,163.95, a PE ratio of 14.25 and a beta of 0.44. Noble Midstream Partners has a 12 month low of $36.10 and a 12 month high of $56.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.40 and a current ratio of 0.40.

Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings results on Monday, October 30th. The energy company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.10. The company had revenue of $63.11 million for the quarter, compared to analysts’ expectations of $60.29 million. Noble Midstream Partners had a return on equity of 36.74% and a net margin of 55.83%. equities research analysts predict that Noble Midstream Partners will post 4.06 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBLX. Edge Advisors LLC bought a new position in shares of Noble Midstream Partners during the third quarter valued at $204,000. Taurus Asset Management LLC bought a new position in shares of Noble Midstream Partners during the third quarter valued at $207,000. Northern Trust Corp bought a new position in shares of Noble Midstream Partners during the second quarter valued at $213,000. Citadel Advisors LLC bought a new position in shares of Noble Midstream Partners during the second quarter valued at $283,000. Finally, Harbour Capital Advisors LLC bought a new position in shares of Noble Midstream Partners during the third quarter valued at $301,000. 75.80% of the stock is currently owned by hedge funds and other institutional investors.

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Noble Midstream Partners Company Profile

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).

The Fly

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