Noble Midstream Partners LP (NBLX) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Noble Midstream Partners LP (NYSE:NBLX) have received an average recommendation of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $56.00.
A number of research analysts recently weighed in on NBLX shares. Mitsubishi UFJ Financial Group dropped their price objective on shares of Noble Midstream Partners to $57.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. Zacks Investment Research cut shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. TheStreet upgraded shares of Noble Midstream Partners from a “d” rating to a “c-” rating in a report on Wednesday, November 14th. Barclays dropped their price objective on shares of Noble Midstream Partners from $59.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, October 12th. Finally, Bank of America lifted their price objective on shares of Noble Midstream Partners from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, November 7th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position in Noble Midstream Partners during the 2nd quarter worth approximately $159,000. Tortoise Index Solutions LLC grew its holdings in Noble Midstream Partners by 57.1% during the 3rd quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after acquiring an additional 1,361 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Noble Midstream Partners by 31.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,155 shares of the energy company’s stock worth $314,000 after acquiring an additional 1,462 shares in the last quarter. Marshall Wace LLP acquired a new position in Noble Midstream Partners during the 3rd quarter worth approximately $292,000. Finally, Baird Financial Group Inc. acquired a new position in Noble Midstream Partners during the 3rd quarter worth approximately $341,000. Institutional investors own 56.53% of the company’s stock.
Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings data on Thursday, November 1st. The energy company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $139.16 million during the quarter, compared to analysts’ expectations of $119.25 million. Noble Midstream Partners had a net margin of 38.18% and a return on equity of 15.89%. As a group, research analysts predict that Noble Midstream Partners will post 4.01 EPS for the current year.
About Noble Midstream Partners
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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