Noble Midstream Partners LP (NBLX) Receives Consensus Recommendation of “Buy” from Analysts
Noble Midstream Partners LP (NYSE:NBLX) has received an average rating of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $56.00.
A number of research analysts have commented on NBLX shares. Robert W. Baird set a $59.00 target price on Noble Midstream Partners and gave the company a “buy” rating in a research note on Friday, August 10th. ValuEngine downgraded Noble Midstream Partners from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Barclays lowered their target price on Noble Midstream Partners from $64.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 29th. Credit Suisse Group boosted their target price on Noble Midstream Partners from $47.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. Finally, Bank of America boosted their target price on Noble Midstream Partners from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, November 7th.
Large investors have recently made changes to their positions in the business. Tortoise Index Solutions LLC lifted its position in shares of Noble Midstream Partners by 57.1% in the third quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after buying an additional 1,361 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Noble Midstream Partners in the second quarter worth about $159,000. Summit Trail Advisors LLC acquired a new stake in shares of Noble Midstream Partners in the second quarter worth about $211,000. Bank of New York Mellon Corp lifted its position in shares of Noble Midstream Partners by 31.2% in the second quarter. Bank of New York Mellon Corp now owns 6,155 shares of the energy company’s stock worth $314,000 after buying an additional 1,462 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in shares of Noble Midstream Partners in the third quarter worth about $341,000. 56.63% of the stock is owned by institutional investors.
Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings results 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. Noble Midstream Partners had a return on equity of 15.89% and a net margin of 38.18%. The business had revenue of $139.16 million for the quarter, compared to the consensus estimate of $119.25 million. On average, equities research analysts anticipate that Noble Midstream Partners will post 4.01 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Monday, November 5th were paid a $0.5597 dividend. The ex-dividend date was Friday, November 2nd. This represents a $2.24 dividend on an annualized basis and a yield of 6.78%. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.53. Noble Midstream Partners’s payout ratio is 54.63%.
Noble Midstream Partners Company Profile
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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