Noble Midstream Partners (NBLX) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Noble Midstream Partners (NYSE:NBLX) from a sell rating to a hold rating in a research report sent to investors on Saturday.

According to Zacks, “Noble Midstream Partners LP is engaged in crude oil and natural gas exploration and production. Its operating area includes onshore which consists of US DJ Basin, Marcellus Shale, Eagle Ford Shale and Permian Basin as well as offshore in deepwater Gulf of Mexico, Eastern Mediterranean and West Africa. Noble Midstream Partners LP is based in Houston, United States. “

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A number of other brokerages have also issued reports on NBLX. TheStreet lowered Noble Midstream Partners from a c rating to a d+ rating in a research report on Monday, March 19th. ValuEngine raised Noble Midstream Partners from a hold rating to a buy rating in a research report on Wednesday, January 3rd. Barclays dropped their target price on Noble Midstream Partners from $69.00 to $67.00 and set an overweight rating on the stock in a research report on Wednesday, March 7th. Robert W. Baird set a $61.00 target price on Noble Midstream Partners and gave the company a buy rating in a research report on Tuesday, March 6th. Finally, Credit Suisse Group started coverage on Noble Midstream Partners in a research report on Thursday, January 4th. They issued an outperform rating and a $61.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $58.43.

Shares of Noble Midstream Partners stock opened at $44.13 on Friday. Noble Midstream Partners has a 52-week low of $41.90 and a 52-week high of $57.98. The company has a market capitalization of $1,750.20, a P/E ratio of 10.87 and a beta of 1.84. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.14.

Noble Midstream Partners (NYSE:NBLX) last announced its earnings results on Tuesday, February 20th. The energy company reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.01). Noble Midstream Partners had a net margin of 58.40% and a return on equity of 34.74%. The firm had revenue of $68.07 million during the quarter, compared to analyst estimates of $65.03 million. research analysts forecast that Noble Midstream Partners will post 4.64 earnings per share for the current year.

In related news, Director Kenneth M. Fisher purchased 2,000 shares of the firm’s stock in a transaction on Monday, March 19th. The stock was purchased at an average cost of $47.49 per share, for a total transaction of $94,980.00. Following the completion of the purchase, the director now directly owns 14,500 shares in the company, valued at $688,605. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

A number of hedge funds have recently bought and sold shares of NBLX. First Dallas Securities Inc. bought a new position in Noble Midstream Partners in the fourth quarter valued at approximately $135,000. Northern Trust Corp bought a new position in shares of Noble Midstream Partners during the 2nd quarter worth approximately $213,000. Citadel Advisors LLC boosted its stake in shares of Noble Midstream Partners by 22.6% during the 4th quarter. Citadel Advisors LLC now owns 6,119 shares of the energy company’s stock worth $306,000 after acquiring an additional 1,129 shares during the period. California Public Employees Retirement System bought a new position in shares of Noble Midstream Partners during the 3rd quarter worth approximately $332,000. Finally, Allianz Asset Management GmbH bought a new position in shares of Noble Midstream Partners during the 3rd quarter worth approximately $376,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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Noble Midstream Partners Company Profile

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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Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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