Noble Midstream Partners (NBLX) PT Raised to $54.00 at Credit Suisse Group

Noble Midstream Partners (NYSE:NBLX) had its price objective upped by investment analysts at Credit Suisse Group from $47.00 to $54.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 41.70% from the stock’s previous close.

Several other brokerages have also issued reports on NBLX. Mitsubishi UFJ Financial Group decreased their price target on shares of Noble Midstream Partners to $57.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. Bank of America boosted their price target on shares of Noble Midstream Partners from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday. Barclays decreased their price target 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. Zacks Investment Research lowered shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Finally, 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. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $57.50.

Shares of NBLX stock opened at $38.11 on Thursday. 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 PE ratio of 9.30, a PEG ratio of 0.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.66.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baldwin Brothers Inc. MA acquired a new position in Noble Midstream Partners in the 2nd quarter worth $105,000. Tower Research Capital LLC TRC acquired a new position in Noble Midstream Partners in the 2nd quarter worth $159,000. Tortoise Index Solutions LLC boosted its stake in Noble Midstream Partners by 57.1% in the 3rd quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after purchasing an additional 1,361 shares during the period. Franklin Parlapiano Turner & Welch LLC acquired a new position in Noble Midstream Partners in the 2nd quarter worth $204,000. Finally, Summit Trail Advisors LLC acquired a new position in Noble Midstream Partners in the 2nd quarter worth $211,000. 56.37% of the stock is owned by hedge funds and other institutional investors.

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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