Analysts Set Noble Midstream Partners LP (NYSE:NBLX) Price Target at $14.63

Shares of Noble Midstream Partners LP (NYSE:NBLX) have received a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.63.

A number of equities analysts have commented on the stock. Piper Sandler raised shares of Noble Midstream Partners from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $12.00 in a research note on Tuesday, August 25th. Zacks Investment Research upgraded shares of Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Thursday, September 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Noble Midstream Partners from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd.

NBLX stock traded down $0.76 during midday trading on Wednesday, reaching $6.83. The company had a trading volume of 588,149 shares, compared to its average volume of 754,421. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. Noble Midstream Partners has a 1 year low of $1.81 and a 1 year high of $28.88. The company has a market capitalization of $617.23 million, a P/E ratio of 1.72 and a beta of 1.35. The firm has a 50-day moving average price of $8.78 and a 200-day moving average price of $7.61.

Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings results on Monday, August 3rd. The energy company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.15. Noble Midstream Partners had a net margin of 26.19% and a return on equity of 11.62%. The business had revenue of $145.95 million during the quarter, compared to analysts’ expectations of $164.40 million. On average, equities analysts predict that Noble Midstream Partners will post 3.13 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in NBLX. SG Americas Securities LLC bought a new stake in Noble Midstream Partners during the 1st quarter valued at $138,000. JPMorgan Chase & Co. raised its holdings in Noble Midstream Partners by 793.5% during the 1st quarter. JPMorgan Chase & Co. now owns 993,884 shares of the energy company’s stock valued at $3,479,000 after buying an additional 882,653 shares during the last quarter. American Financial Group Inc. raised its holdings in Noble Midstream Partners by 70.0% during the 1st quarter. American Financial Group Inc. now owns 34,000 shares of the energy company’s stock valued at $118,000 after buying an additional 14,000 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Noble Midstream Partners during the 1st quarter valued at $63,000. Finally, Citigroup Inc. raised its holdings in Noble Midstream Partners by 312.6% during the 1st quarter. Citigroup Inc. now owns 221,700 shares of the energy company’s stock valued at $776,000 after buying an additional 167,973 shares during the last quarter. Hedge funds and other institutional investors own 53.02% of the company’s stock.

About Noble Midstream Partners

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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