Noble Midstream Partners (NYSE:NBLX) had its target price lowered by research analysts at Barclays from $59.00 to $56.00 in a research note issued on Friday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the energy company’s stock. Barclays’ price target suggests a potential upside of 42.13% from the company’s current price.
A number of other equities analysts have also recently issued reports on the company. Credit Suisse Group assumed coverage on Noble Midstream Partners in a report on Thursday. They set an “outperform” rating and a $47.00 price target on the stock. Bank of America cut their price target on Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, October 1st. Wells Fargo & Co cut Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, September 24th. ValuEngine cut Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 28th. Finally, Robert W. Baird set a $59.00 price target on Noble Midstream Partners and gave the stock a “buy” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Noble Midstream Partners has a consensus rating of “Buy” and a consensus price target of $55.50.
Shares of NBLX stock opened at $39.40 on Friday. Noble Midstream Partners has a one year low of $33.51 and a one year high of $57.98. The company has a market capitalization of $1.40 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.57 and a beta of 1.71. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 0.45.
Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings results on Friday, August 3rd. The energy company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $121.97 million for the quarter, compared to analysts’ expectations of $114.90 million. Noble Midstream Partners had a return on equity of 21.14% and a net margin of 45.55%. As a group, sell-side analysts anticipate that Noble Midstream Partners will post 3.99 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of NBLX. Taylor Wealth Management Partners lifted its holdings in shares of Noble Midstream Partners by 95.0% in the 1st quarter. Taylor Wealth Management Partners now owns 1,950 shares of the energy company’s stock worth $102,000 after purchasing an additional 950 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Noble Midstream Partners in the 1st quarter worth $103,000. Baldwin Brothers Inc. MA bought a new position in shares of Noble Midstream Partners in the 2nd quarter worth $105,000. First Dallas Securities Inc. bought a new position in shares of Noble Midstream Partners in the 4th quarter worth $135,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Noble Midstream Partners in the 2nd quarter worth $159,000. 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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