Brokerages Set Noble Midstream Partners LP (NBLX) PT at $57.50

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Noble Midstream Partners LP (NYSE:NBLX) has received an average recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $57.50.

NBLX has been the topic of several research reports. Bank of America raised their target price on Noble Midstream Partners from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, November 7th. Robert W. Baird set a $59.00 target price on Noble Midstream Partners and gave the company a “buy” rating in a research report on Friday, August 10th. Citigroup raised their target price on Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Wells Fargo & Co downgraded Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. Finally, Credit Suisse Group raised their target price on Noble Midstream Partners from $47.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, November 8th.

Several large investors have recently bought and sold shares of the stock. Tortoise Index Solutions LLC increased its holdings in shares of Noble Midstream Partners by 57.1% in the third quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock valued at $133,000 after purchasing an additional 1,361 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $314,000 after purchasing an additional 1,462 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Noble Midstream Partners by 2.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,539 shares of the energy company’s stock valued at $2,989,000 after purchasing an additional 1,539 shares during the last quarter. Baldwin Brothers Inc. MA acquired a new stake in shares of Noble Midstream Partners in the second quarter valued at approximately $105,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Noble Midstream Partners in the second quarter valued at approximately $159,000. 55.76% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NBLX traded down $0.46 during midday trading on Friday, hitting $36.64. The stock had a trading volume of 51,458 shares, compared to its average volume of 235,523. The company has a market cap of $1.49 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 0.64 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 debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.66.

Noble Midstream Partners (NYSE:NBLX) last released its earnings results on Thursday, November 1st. The energy company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 15.89% and a net margin of 38.18%. On average, equities research analysts anticipate that Noble Midstream Partners will post 3.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Monday, November 5th were issued a $0.5597 dividend. This represents a $2.24 annualized dividend and a dividend yield of 6.11%. The ex-dividend date of this dividend was Friday, November 2nd. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.53. Noble Midstream Partners’s dividend payout ratio (DPR) is currently 54.63%.

Noble Midstream Partners Company Profile

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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Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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