Barclays downgraded shares of Noble Midstream Partners (NYSE:NBLX) from an overweight rating to an equal weight rating in a research report released on Tuesday morning, BenzingaRatingsTable reports. Barclays currently has $29.00 price target on the energy company’s stock.
NBLX has been the subject of a number of other reports. Robert W. Baird raised Noble Midstream Partners from a neutral rating to an outperform rating and raised their price objective for the company from $26.00 to $29.00 in a research report on Tuesday, December 3rd. ValuEngine cut Noble Midstream Partners from a strong-buy rating to a buy rating in a research report on Wednesday, December 18th. Zacks Investment Research cut Noble Midstream Partners from a buy rating to a hold rating in a research report on Saturday, November 16th. Finally, Credit Suisse Group cut Noble Midstream Partners from an outperform rating to a hold rating and cut their price objective for the company from $31.00 to $23.00 in a research report on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Noble Midstream Partners has a consensus rating of Hold and a consensus price target of $33.27.
Shares of NBLX traded down $0.68 during mid-day trading on Tuesday, reaching $25.74. The company’s stock had a trading volume of 160,225 shares, compared to its average volume of 362,402. Noble Midstream Partners has a 1-year low of $20.30 and a 1-year high of $40.30. The stock has a market cap of $1.05 billion, a P/E ratio of 6.50 and a beta of 1.35. The business has a 50-day simple moving average of $24.92 and a two-hundred day simple moving average of $25.90. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66.
Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings data on Thursday, November 7th. The energy company reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.04). Noble Midstream Partners had a net margin of 26.19% and a return on equity of 11.62%. The business had revenue of $169.32 million during the quarter, compared to analyst estimates of $170.05 million. Research analysts anticipate that Noble Midstream Partners will post 3.13 EPS for the current year.
In other news, CEO Brent J. Smolik bought 5,000 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the purchase, the chief executive officer now owns 5,000 shares in the company, valued at $107,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Viens bought 1,500 shares of the stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $21.79 per share, for a total transaction of $32,685.00. Following the purchase, the director now owns 11,291 shares of the company’s stock, valued at approximately $246,030.89. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 7,500 shares of company stock worth $161,735.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in shares of Noble Midstream Partners by 37.0% during the third quarter. Alps Advisors Inc. now owns 2,599,302 shares of the energy company’s stock worth $62,695,000 after purchasing an additional 701,574 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in Noble Midstream Partners by 2.0% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,352,968 shares of the energy company’s stock worth $86,576,000 after acquiring an additional 47,204 shares during the period. CIBC Private Wealth Group LLC increased its stake in Noble Midstream Partners by 12.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,166,691 shares of the energy company’s stock worth $28,141,000 after acquiring an additional 131,208 shares during the period. UBS Group AG increased its stake in Noble Midstream Partners by 26.8% during the 2nd quarter. UBS Group AG now owns 621,363 shares of the energy company’s stock worth $20,667,000 after acquiring an additional 131,460 shares during the period. Finally, Invesco Ltd. bought a new position in Noble Midstream Partners during the 2nd quarter worth $16,357,000. Institutional investors own 53.02% of the company’s stock.
About Noble Midstream Partners
Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. It operates through three segments: Gathering Systems, Fresh Water Delivery, and Investments and Other. The company provides crude oil, natural gas, and water-related midstream services.
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