Noble Midstream Partners LP (NYSE:NBLX) shares saw unusually-strong trading volume on Wednesday after Bank of America raised their price target on the stock from $49.00 to $58.00. Bank of America currently has a buy rating on the stock. Approximately 895,457 shares were traded during mid-day trading, an increase of 418% from the previous session’s volume of 172,765 shares.The stock last traded at $41.76 and had previously closed at $35.60.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Barclays cut their price objective on shares of Noble Midstream Partners from $59.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, October 12th. Credit Suisse Group started coverage on shares of Noble Midstream Partners in a report on Thursday, October 11th. They set an “outperform” rating and a $47.00 price objective on the stock. ValuEngine downgraded shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, Mitsubishi UFJ Financial Group cut their price objective on shares of Noble Midstream Partners to $57.00 and set an “overweight” rating on the stock in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. Noble Midstream Partners presently has a consensus rating of “Buy” and an average price target of $56.63.
Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Noble Midstream Partners by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,260 shares of the energy company’s stock worth $16,333,000 after buying an additional 21,938 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Noble Midstream Partners in the 3rd quarter worth about $1,593,000. SG Americas Securities LLC purchased a new position in shares of Noble Midstream Partners in the 3rd quarter worth about $2,191,000. Cannell Peter B & Co. Inc. boosted its holdings in shares of Noble Midstream Partners by 8.7% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 942,075 shares of the energy company’s stock worth $33,359,000 after buying an additional 75,490 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Noble Midstream Partners by 2.2% in the 3rd quarter. Wells Fargo & Company MN now owns 369,157 shares of the energy company’s stock worth $13,073,000 after buying an additional 7,977 shares during the last quarter. 56.37% of the stock is currently owned by institutional investors.
The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.19, 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09. The company 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 15.89%. On average, analysts anticipate that Noble Midstream Partners LP will post 3.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Monday, November 5th will be issued a $0.5597 dividend. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend is Friday, November 2nd. Noble Midstream Partners’s payout ratio is 54.63%.
COPYRIGHT VIOLATION NOTICE: This news story was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/11/07/noble-midstream-partners-nblx-sees-strong-trading-volume-after-analyst-upgrade.html.
Noble Midstream Partners Company Profile (NYSE:NBLX)
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.
Featured Story: How is the discount rate different from the Federal Funds rate?
Receive News & Ratings for Noble Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.