Noble Midstream Partners (NBLX) Price Target Lowered to $56.00 at Barclays

Noble Midstream Partners (NYSE:NBLX) had its target price decreased by investment analysts at Barclays from $59.00 to $56.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Barclays’ target price points to a potential upside of 42.13% from the company’s current price.

NBLX has been the subject of several other reports. Credit Suisse Group began coverage on shares of Noble Midstream Partners in a research report on Thursday. They issued an “outperform” rating and a $47.00 target price for the company. Citigroup boosted their target price on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Wells Fargo & Co downgraded shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. ValuEngine downgraded shares of Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 28th. Finally, Bank of America decreased their target price on shares of Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.50.

NBLX stock opened at $39.40 on Friday. 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 price-to-earnings-growth ratio of 0.57 and a beta of 1.71. Noble Midstream Partners has a 12 month low of $33.51 and a 12 month high of $57.98.

Noble Midstream Partners (NYSE:NBLX) last posted its earnings results on Friday, August 3rd. The energy company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The company had revenue of $121.97 million during the quarter, compared to the consensus estimate of $114.90 million. Noble Midstream Partners had a net margin of 45.55% and a return on equity of 21.14%. On average, equities research analysts predict that Noble Midstream Partners will post 3.99 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Noble Midstream Partners by 2.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,225,122 shares of the energy company’s stock worth $113,615,000 after buying an additional 57,165 shares during the period. Perella Weinberg Partners Capital Management LP boosted its holdings in shares of Noble Midstream Partners by 51.7% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 803,065 shares of the energy company’s stock worth $41,004,000 after buying an additional 273,727 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Noble Midstream Partners during the 2nd quarter worth $37,714,000. Morgan Stanley boosted its holdings in shares of Noble Midstream Partners by 24.9% during the 2nd quarter. Morgan Stanley now owns 707,259 shares of the energy company’s stock worth $36,112,000 after buying an additional 141,108 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Noble Midstream Partners by 2.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 391,114 shares of the energy company’s stock worth $19,971,000 after buying an additional 10,260 shares during the period. 56.43% of the stock is owned by institutional investors and hedge funds.

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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