Mizuho Analysts Give Noble Midstream Partners LP (NBLX) a $53.00 Price Target
Mizuho set a $53.00 price objective on Noble Midstream Partners LP (NYSE:NBLX) in a research note issued to investors on Tuesday morning. The firm currently has a hold rating on the energy company’s stock.
A number of other brokerages have also recently weighed in on NBLX. ValuEngine raised Noble Midstream Partners from a hold rating to a buy rating in a research note on Friday, September 15th. BidaskClub raised Noble Midstream Partners from a hold rating to a buy rating in a report on Saturday, September 2nd. Robert W. Baird reaffirmed a buy rating and set a $57.00 price target on shares of Noble Midstream Partners in a report on Thursday, August 31st. Scotiabank set a $50.00 target price on Noble Midstream Partners and gave the stock a buy rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Noble Midstream Partners from a hold rating to a buy rating and set a $57.00 target price on the stock in a research report on Wednesday, October 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Noble Midstream Partners presently has an average rating of Buy and an average target price of $52.50.
Noble Midstream Partners (NYSE:NBLX) traded down $0.89 during midday trading on Tuesday, hitting $50.53. The stock had a trading volume of 31,834 shares, compared to its average volume of 54,025. The firm has a market cap of $1.02 billion, a PE ratio of 13.81 and a beta of 0.89.
Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings results on Monday, October 30th. The energy company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.05 by $0.10. The firm had revenue of $63.11 million during the quarter, compared to analysts’ expectations of $60.29 million. Noble Midstream Partners had a return on equity of 36.74% and a net margin of 55.83%. sell-side analysts forecast that Noble Midstream Partners will post 3.85 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, November 6th will be given a $0.467 dividend. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.45. This represents a $1.87 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Friday, November 3rd. Noble Midstream Partners’s dividend payout ratio is presently 48.11%.
In other news, insider Thomas W. Christensen sold 1,500 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $54.00, for a total transaction of $81,000.00. Following the transaction, the insider now owns 2,868 shares of the company’s stock, valued at $154,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in shares of 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 period. Global X Management Co. LLC acquired a new position in Noble Midstream Partners in the second quarter worth approximately $198,000. Northern Trust Corp acquired a new position in Noble Midstream Partners in the second quarter worth approximately $213,000. Diversified Trust Co grew its position 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 worth $246,000 after buying an additional 88 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Noble Midstream Partners in the second quarter worth approximately $283,000. 84.10% of the stock is currently owned by hedge funds and other institutional investors.
About Noble Midstream Partners
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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