Noble Midstream Partners (NYSE:NBLX) had its price target upped by investment analysts at Bank of America from $49.00 to $58.00 in a research note issued on Wednesday. The firm presently has a “buy” rating on the energy company’s stock. Bank of America’s price objective would indicate a potential upside of 36.41% from the stock’s current price.
A number of other analysts have also weighed in on the company. Credit Suisse Group initiated coverage on Noble Midstream Partners in a research note on Thursday, October 11th. They set an “outperform” rating and a $47.00 price objective for the company. Citigroup increased their price objective on Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Wells Fargo & Co lowered Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. ValuEngine lowered Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 28th. Finally, Robert W. Baird set a $59.00 price objective on Noble Midstream Partners and gave the company a “buy” rating in a research note on Friday, August 10th. Two equities research 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. The company currently has a consensus rating of “Buy” and a consensus price target of $56.63.
NYSE NBLX traded up $6.92 on Wednesday, reaching $42.52. 15,083 shares of the company’s stock traded hands, compared to its average volume of 222,708. Noble Midstream Partners has a 12 month low of $33.17 and a 12 month high of $57.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.66. The stock has a market capitalization of $1.35 billion, a P/E ratio of 10.39, a PEG ratio of 0.61 and a beta of 1.28.
Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings results on Thursday, November 1st. The energy company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Noble Midstream Partners had a net margin of 38.18% and a return on equity of 15.89%. The business had revenue of $139.16 million for the quarter, compared to analysts’ expectations of $119.25 million. As a group, equities analysts expect that Noble Midstream Partners will post 3.99 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Baldwin Brothers Inc. MA purchased a new stake in Noble Midstream Partners in the second quarter worth $105,000. Tower Research Capital LLC TRC purchased a new stake in Noble Midstream Partners in the second quarter worth $159,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Noble Midstream Partners in the second quarter worth $204,000. Summit Trail Advisors LLC purchased a new stake in Noble Midstream Partners in the second quarter worth $211,000. Finally, Bank of New York Mellon Corp lifted its stake in Noble Midstream Partners by 31.2% in the second quarter. Bank of New York Mellon Corp now owns 6,155 shares of the energy company’s stock worth $314,000 after acquiring an additional 1,462 shares during the period. 56.37% of the stock is owned by 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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