Noble Midstream Partners (NYSE:NBLX) was upgraded by research analysts at TheStreet from a “d+” rating to a “c” rating in a report released on Monday.
NBLX has been the topic of a number of other research reports. Zacks Investment Research downgraded Noble Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Wells Fargo & Co set a $40.00 price target on Noble Midstream Partners and gave the company a “hold” rating in a research note on Friday, March 8th. Robert W. Baird downgraded Noble Midstream Partners from an “outperform” rating to a “neutral” rating and cut their price target for the company from $53.00 to $39.00 in a research note on Thursday, March 7th. Finally, Citigroup cut their price target on Noble Midstream Partners from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $52.00.
NBLX stock opened at $38.49 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 0.68. The firm has a market capitalization of $1.51 billion, a PE ratio of 9.72, a P/E/G ratio of 0.85 and a beta of 1.36. Noble Midstream Partners has a twelve month low of $26.08 and a twelve month high of $56.40.
Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings results on Tuesday, February 19th. The energy company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.05). The company had revenue of $136.65 million during the quarter, compared to analyst estimates of $141.30 million. Noble Midstream Partners had a net margin of 32.35% and a return on equity of 13.35%. On average, analysts expect that Noble Midstream Partners will post 4.54 earnings per share for the current fiscal year.
In other Noble Midstream Partners news, insider Thomas W. Christensen acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were acquired at an average price of $34.00 per share, with a total value of $51,000.00. Following the purchase, the insider now owns 10,573 shares of the company’s stock, valued at approximately $359,482. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in Noble Midstream Partners by 2.2% during the 3rd quarter. Wells Fargo & Company MN now owns 369,157 shares of the energy company’s stock worth $13,073,000 after purchasing an additional 7,977 shares in the last quarter. SG Americas Securities LLC bought a new position in Noble Midstream Partners during the 3rd quarter worth about $2,191,000. JPMorgan Chase & Co. increased its holdings in Noble Midstream Partners by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,260 shares of the energy company’s stock worth $16,333,000 after purchasing an additional 21,938 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in Noble Midstream Partners by 17.0% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 2,603,168 shares of the energy company’s stock worth $92,178,000 after purchasing an additional 378,046 shares in the last quarter. Finally, BP Capital Fund Advisors LLC bought a new position in Noble Midstream Partners during the 3rd quarter worth about $1,454,000. 56.18% of the stock is currently owned by institutional investors and hedge funds.
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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