Analysts Set Noble Midstream Partners LP (NBLX) Price Target at $52.25
Noble Midstream Partners LP (NYSE:NBLX) has received a consensus rating of “Buy” from the eleven research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $52.50.
Several research firms have recently commented on NBLX. Mizuho set a $53.00 price target on Noble Midstream Partners and gave the stock a “hold” rating in a research note on Tuesday. Zacks Investment Research raised Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Wednesday, October 18th. Seaport Global Securities assumed coverage on Noble Midstream Partners in a report on Tuesday, October 10th. They set a “buy” rating and a $60.00 price objective on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $57.00 price objective on shares of Noble Midstream Partners in a report on Thursday, August 31st. Finally, Scotiabank set a $50.00 price objective on Noble Midstream Partners and gave the stock a “buy” rating in a report on Thursday, August 3rd.
In other Noble Midstream Partners news, insider Thomas W. Christensen sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $54.00, for a total value of $81,000.00. Following the sale, the insider now owns 2,868 shares of the company’s stock, valued at $154,872. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of institutional investors have recently bought and sold shares of NBLX. Global X Management Co. LLC acquired a new stake in Noble Midstream Partners in the second quarter valued at $198,000. Northern Trust Corp acquired a new stake in Noble Midstream Partners in the second quarter valued at $213,000. JPMorgan Chase & Co. grew its holdings in Noble Midstream Partners by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 4,129 shares of the energy company’s stock valued at $215,000 after purchasing an additional 125 shares during the last quarter. Diversified Trust Co grew its holdings in Noble Midstream Partners by 1.7% in the second quarter. Diversified Trust Co now owns 5,417 shares of the energy company’s stock valued at $246,000 after purchasing an additional 88 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Noble Midstream Partners in the second quarter valued at $283,000. 84.10% of the stock is currently owned by institutional investors.
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Shares of Noble Midstream Partners (NYSE NBLX) traded down $0.10 during midday trading on Wednesday, hitting $50.53. The stock had a trading volume of 31,834 shares, compared to its average volume of 54,025. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.64 and a current ratio of 0.40. The company has a market cap of $1.02 billion, a P/E ratio of 13.81, a PEG ratio of 0.66 and a beta of 0.89.
Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings results on Monday, October 30th. The energy company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.10. Noble Midstream Partners had a return on equity of 36.74% and a net margin of 55.83%. The business had revenue of $63.11 million during the quarter, compared to analysts’ expectations of $60.29 million. research analysts anticipate that Noble Midstream Partners will post 3.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be issued a dividend of $0.467 per share. This represents a $1.87 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, November 3rd. This is a positive change from Noble Midstream Partners’s previous quarterly dividend of $0.45. Noble Midstream Partners’s dividend payout ratio is currently 48.11%.
Noble Midstream Partners Company Profile
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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