Noble Midstream Partners LP (NYSE:NBLX)’s share price dropped 7.6% during mid-day trading on Monday . The company traded as low as $33.51 and last traded at $34.21. Approximately 709,800 shares changed hands during mid-day trading, an increase of 347% from the average daily volume of 158,801 shares. The stock had previously closed at $37.02.

NBLX has been the topic of several research analyst reports. Barclays reduced their price target on shares of Noble Midstream Partners from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 12th. ValuEngine cut shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a research report on Saturday, June 16th. Citigroup boosted their price target on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Robert W. Baird set a $59.00 price target on shares of Noble Midstream Partners and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Wells Fargo & Co cut shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Noble Midstream Partners currently has an average rating of “Buy” and a consensus price target of $59.00.

The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.47 billion, a PE ratio of 8.34 and a beta of 1.57.

Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings results on Friday, August 3rd. The energy company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. Noble Midstream Partners had a net margin of 45.55% and a return on equity of 21.14%. The company had revenue of $121.97 million for the quarter, compared to analysts’ expectations of $114.90 million. analysts expect that Noble Midstream Partners LP will post 3.99 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of NBLX. Wells Fargo & Company MN boosted its stake in Noble Midstream Partners by 3,128.6% during the first quarter. Wells Fargo & Company MN now owns 345,108 shares of the energy company’s stock worth $16,092,000 after acquiring an additional 334,419 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Noble Midstream Partners during the first quarter worth about $252,000. Stratos Wealth Partners LTD. bought a new stake in Noble Midstream Partners during the first quarter worth about $103,000. JPMorgan Chase & Co. boosted its stake in Noble Midstream Partners by 17.2% during the first quarter. JPMorgan Chase & Co. now owns 527,932 shares of the energy company’s stock worth $24,618,000 after acquiring an additional 77,306 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in Noble Midstream Partners by 17.0% during the first quarter. First Republic Investment Management Inc. now owns 14,118 shares of the energy company’s stock worth $659,000 after acquiring an additional 2,053 shares in the last quarter. 56.43% of the stock is currently owned by institutional investors and hedge funds.

About Noble Midstream Partners (NYSE:NBLX)

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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