Analysts Set Noble Midstream Partners LP (NBLX) Target Price at $50.63

Noble Midstream Partners LP (NYSE:NBLX) has been given a consensus rating of “Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $50.63.

A number of brokerages have recently commented on NBLX. TheStreet raised shares of Noble Midstream Partners from a “d+” rating to a “c” rating in a research note on Monday, March 18th. Robert W. Baird downgraded shares of Noble Midstream Partners from an “outperform” rating to a “neutral” rating and cut their target price for the company from $53.00 to $39.00 in a research note on Thursday, March 7th. Wells Fargo & Co set a $40.00 target price on shares of Noble Midstream Partners and gave the company a “hold” rating in a research note on Friday, March 8th. Zacks Investment Research raised shares of Noble Midstream Partners from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Finally, Rowe dropped their price target on shares of Noble Midstream Partners to $49.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd.

Shares of NBLX stock traded up $0.56 during mid-day trading on Thursday, reaching $32.64. The company’s stock had a trading volume of 169,417 shares, compared to its average volume of 235,021. Noble Midstream Partners has a 12-month low of $26.08 and a 12-month high of $56.40. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.28 billion, a PE ratio of 8.24, a P/E/G ratio of 0.49 and a beta of 1.32.

Noble Midstream Partners (NYSE:NBLX) last issued its earnings results on Friday, May 3rd. The energy company reported $1.01 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.10). Noble Midstream Partners had a net margin of 30.14% and a return on equity of 12.84%. The business had revenue of $147.96 million during the quarter, compared to analysts’ expectations of $141.40 million. Equities research analysts expect that Noble Midstream Partners will post 4.34 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, May 6th were paid a dividend of $0.6132 per share. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.45 annualized dividend and a yield of 7.51%. Noble Midstream Partners’s payout ratio is 61.87%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its stake in Noble Midstream Partners by 12,284.8% during the 1st quarter. Alps Advisors Inc. now owns 2,058,851 shares of the energy company’s stock worth $74,139,000 after buying an additional 2,042,227 shares during the period. CIBC Private Wealth Group LLC increased its stake in Noble Midstream Partners by 10.9% during the 1st quarter. CIBC Private Wealth Group LLC now owns 1,306,669 shares of the energy company’s stock worth $47,053,000 after buying an additional 128,430 shares during the period. FMR LLC grew its holdings in Noble Midstream Partners by 0.9% during the 4th quarter. FMR LLC now owns 1,074,863 shares of the energy company’s stock worth $30,999,000 after acquiring an additional 9,802 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in Noble Midstream Partners by 73.2% during the 1st quarter. Eagle Global Advisors LLC now owns 1,023,941 shares of the energy company’s stock worth $36,872,000 after acquiring an additional 432,881 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Noble Midstream Partners by 4.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 716,287 shares of the energy company’s stock worth $25,793,000 after acquiring an additional 30,608 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Noble Midstream Partners Company Profile

Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. It operates through three segments: Gathering Systems, Fresh Water Delivery, and Investments and Other. The company provides crude oil, natural gas, and water-related midstream services.

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Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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