Noble Midstream Partners (NYSE:NBLX) had its target price decreased by equities research analysts at Mitsubishi UFJ Financial Group to $57.00 in a report released on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Mitsubishi UFJ Financial Group’s target price indicates a potential upside of 67.55% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Wells Fargo & Co downgraded shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. Citigroup upped 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 note on Tuesday, July 31st. Robert W. Baird set a $59.00 target price on shares of Noble Midstream Partners and gave the stock a “buy” rating in a research note on Friday, August 10th. ValuEngine downgraded shares of Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 28th. Finally, Zacks Investment Research downgraded shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Noble Midstream Partners presently has a consensus rating of “Buy” and an average target price of $55.50.
Noble Midstream Partners stock opened at $34.02 on Friday. The company has a market capitalization of $1.35 billion, a PE ratio of 8.26, a P/E/G ratio of 0.61 and a beta of 1.28. Noble Midstream Partners has a 1 year low of $33.17 and a 1 year high of $57.98. 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 released its quarterly earnings results on Thursday, November 1st. The energy company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $139.16 million for the quarter, compared to the consensus estimate of $119.25 million. Noble Midstream Partners had a net margin of 38.18% and a return on equity of 17.28%. On average, research analysts forecast that Noble Midstream Partners will post 3.97 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in NBLX. California Public Employees Retirement System purchased a new stake in Noble Midstream Partners during the 1st quarter worth approximately $1,665,000. Spirit of America Management Corp NY grew its holdings in Noble Midstream Partners by 4.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 361,934 shares of the energy company’s stock worth $18,480,000 after acquiring an additional 16,704 shares in the last quarter. Bank of Montreal Can grew its holdings in Noble Midstream Partners by 169.4% during the 2nd quarter. Bank of Montreal Can now owns 354,661 shares of the energy company’s stock worth $18,109,000 after acquiring an additional 222,998 shares in the last quarter. Baldwin Brothers Inc. MA acquired a new position in Noble Midstream Partners during the 2nd quarter worth approximately $105,000. Finally, Perella Weinberg Partners Capital Management LP grew its holdings in 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 acquiring an additional 273,727 shares in the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.
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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