Noble Midstream Partners (NBLX) Price Target Cut to $56.00 by Analysts at Barclays

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Noble Midstream Partners (NYSE:NBLX) had its target price cut by Barclays from $59.00 to $56.00 in a report published on Friday morning. They currently have an overweight rating on the energy company’s stock.

NBLX has been the subject of several other reports. Bank of America reduced their price target on Noble Midstream Partners from $59.00 to $49.00 and set a buy rating for the company in a research report on Monday, October 1st. ValuEngine lowered Noble Midstream Partners from a hold rating to a sell rating in a research report on Monday, August 13th. Credit Suisse Group initiated coverage on Noble Midstream Partners in a research report on Thursday. They set an outperform rating and a $47.00 target price on the stock. Robert W. Baird set a $59.00 target price on Noble Midstream Partners and gave the company a buy rating in a research report on Friday, August 10th. Finally, Citigroup upped their target price on Noble Midstream Partners from $56.00 to $64.00 and gave the company a buy rating in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Noble Midstream Partners presently has an average rating of Buy and an average target price of $55.50.

Shares of NBLX traded down $1.40 during trading hours on Friday, hitting $39.40. The company had a trading volume of 505,840 shares, compared to its average volume of 166,921. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.57 and a beta of 1.71. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 0.45. Noble Midstream Partners has a one year low of $33.51 and a one year high of $57.98.

Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings results on Friday, August 3rd. The energy company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The firm had revenue of $121.97 million during the quarter, compared to analyst estimates of $114.90 million. Noble Midstream Partners had a return on equity of 21.14% and a net margin of 45.55%. On average, equities research analysts forecast that Noble Midstream Partners will post 3.99 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position 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 valued at $314,000 after buying an additional 1,462 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Noble Midstream Partners by 2.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,539 shares of the energy company’s stock valued at $2,989,000 after purchasing an additional 1,539 shares during the period. Baldwin Brothers Inc. MA acquired a new position in shares of Noble Midstream Partners in the second quarter valued at about $105,000. Tower Research Capital LLC TRC acquired a new position in shares of Noble Midstream Partners in the second quarter valued at about $159,000. Finally, Citadel Advisors LLC increased its holdings in shares of Noble Midstream Partners by 51.5% in the first quarter. Citadel Advisors LLC now owns 9,273 shares of the energy company’s stock valued at $432,000 after purchasing an additional 3,154 shares during the period. 56.43% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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