Noble Midstream Partners LP (NBLX) PT Raised to $51.00
Noble Midstream Partners LP (NYSE:NBLX) had its price target increased by equities researchers at Mizuho from $47.00 to $51.00 in a report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective indicates a potential upside of 4.15% from the company’s current price.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Noble Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Tuesday, December 13th. Wells Fargo & Company began coverage on shares of Noble Midstream Partners in a report on Monday, October 31st. They set an “outperform” rating for the company. Deutsche Bank AG set a $39.00 price objective on shares of Noble Midstream Partners and gave the stock a “hold” rating in a report on Tuesday. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $49.00 price objective (up from $38.00) on shares of Noble Midstream Partners in a report on Wednesday, February 1st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.91.
Noble Midstream Partners (NYSE:NBLX) opened at 48.97 on Wednesday. The company has a market cap of $1.56 billion and a PE ratio of 54.72. The firm has a 50-day moving average of $42.03 and a 200 day moving average of $34.55. Noble Midstream Partners has a 52-week low of $26.00 and a 52-week high of $49.79.
Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings data on Monday, February 13th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.02. The firm had revenue of $48.47 million for the quarter, compared to the consensus estimate of $42.08 million. Equities research analysts expect that Noble Midstream Partners will post $2.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Monday, February 6th were issued a $0.4333 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Thursday, February 2nd.
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Hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Noble Midstream Partners by 2,288.5% in the fourth quarter. FMR LLC now owns 735,075 shares of the company’s stock worth $26,463,000 after buying an additional 704,300 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Noble Midstream Partners during the fourth quarter worth $3,290,000. RR Advisors LLC increased its stake in shares of Noble Midstream Partners by 49.0% in the fourth quarter. RR Advisors LLC now owns 225,000 shares of the company’s stock worth $8,035,000 after buying an additional 74,000 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Noble Midstream Partners by 24.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,795 shares of the company’s stock worth $5,069,000 after buying an additional 27,438 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.
About Noble Midstream Partners
Noble Midstream Partners LP is formed to own, operate, develop and acquire a range of domestic midstream infrastructure assets. The Company focuses in the area of DJ Basin in Colorado and in the Delaware Basin within the Permian Basin in Texas. The Company’s segments include Gathering Systems; Fresh Water Delivery, and investments in white cliffs and other.
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