Noble Midstream Partners (NBLX) Price Target Raised to $58.00 at Bank of America

Noble Midstream Partners (NYSE:NBLX) had its price objective lifted by Bank of America from $49.00 to $58.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a buy rating on the energy company’s stock.

Several other equities research analysts have also issued reports on NBLX. 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 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 report on Friday, August 10th. ValuEngine lowered shares of Noble Midstream Partners from a hold rating to a sell rating in a report on Monday, August 13th. Barclays lowered their price target on shares of Noble Midstream Partners from $64.00 to $59.00 and set an overweight rating on the stock in a report on Wednesday, August 29th. Finally, Wells Fargo & Co downgraded shares of Noble Midstream Partners from an outperform rating to a market perform rating in a research note on Monday, September 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $57.50.

NBLX stock traded down $1.69 on Wednesday, reaching $40.07. 294,920 shares of the company were exchanged, compared to its average volume of 231,544. Noble Midstream Partners has a 12 month low of $33.17 and a 12 month high of $57.98. The firm has a market capitalization of $1.41 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 0.61 and a beta of 1.28. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43.

Noble Midstream Partners (NYSE:NBLX) last announced its earnings results on Thursday, November 1st. The energy company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09. The business had revenue of $139.16 million for the quarter, compared to analyst estimates of $119.25 million. Noble Midstream Partners had a net margin of 38.18% and a return on equity of 15.89%. Equities research analysts anticipate that Noble Midstream Partners will post 3.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Monday, November 5th will be paid a $0.5597 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend is Friday, November 2nd. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.53. Noble Midstream Partners’s payout ratio is currently 54.63%.

Large investors have recently modified their holdings of the company. Putnam Investments LLC acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter valued at $1,639,000. Wells Fargo & Company MN lifted its position in Noble Midstream Partners by 4.7% during the 2nd quarter. Wells Fargo & Company MN now owns 361,180 shares of the energy company’s stock worth $18,442,000 after buying an additional 16,072 shares in the last quarter. Morgan Stanley lifted its position in Noble Midstream Partners by 24.9% during the 2nd quarter. Morgan Stanley now owns 707,259 shares of the energy company’s stock worth $36,112,000 after buying an additional 141,108 shares in the last quarter. GSA Capital Partners LLP lifted its position in Noble Midstream Partners by 147.7% during the 2nd quarter. GSA Capital Partners LLP now owns 20,300 shares of the energy company’s stock worth $1,037,000 after buying an additional 12,106 shares in the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in Noble Midstream Partners during the 2nd quarter worth about $211,000. Institutional investors own 56.37% of the company’s stock.

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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