Research analysts at Credit Suisse Group assumed coverage on shares of Noble Midstream Partners (NYSE:NBLX) in a report issued on Thursday, The Fly reports. The firm set an “outperform” rating and a $47.00 price target on the energy company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 16.11% from the stock’s current price.
Several other research analysts also recently commented on the company. ValuEngine downgraded Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 28th. Barclays reduced their price objective on Noble Midstream Partners from $64.00 to $59.00 and set an “overweight” rating on the stock in a report on Wednesday, August 29th. Wells Fargo & Co downgraded Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, September 24th. Robert W. Baird set a $59.00 price objective on Noble Midstream Partners and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, Bank of America dropped their target price on Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Noble Midstream Partners currently has an average rating of “Buy” and an average price target of $55.88.
NBLX opened at $40.48 on Thursday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.57 and a beta of 1.71. Noble Midstream Partners has a 52 week low of $33.51 and a 52 week high of $57.98. 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 (NYSE:NBLX) last released its quarterly earnings data on Friday, August 3rd. The energy company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $121.97 million for the quarter, compared to the consensus estimate 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 fiscal year.
Several institutional investors have recently bought and sold shares of NBLX. Baldwin Brothers Inc. MA acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter worth $105,000. Tower Research Capital LLC TRC acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter worth $159,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter worth $204,000. Summit Trail Advisors LLC acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter worth $211,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Noble Midstream Partners by 31.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,155 shares of the energy company’s stock worth $314,000 after purchasing an additional 1,462 shares in the last quarter. 56.43% of the stock is 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. 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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