Noble Midstream Partners LP (NBLX) Given Average Recommendation of “Buy” by Analysts

Shares of Noble Midstream Partners LP (NYSE:NBLX) have been assigned a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $43.00.

NBLX has been the subject of a number of research reports. Zacks Investment Research downgraded Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, April 15th. Barclays PLC set a $55.00 price target on Noble Midstream Partners and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Scotiabank set a $50.00 price target on Noble Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, June 22nd. Finally, Mizuho downgraded Noble Midstream Partners from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a research note on Monday, July 10th.

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Noble Midstream Partners by 12.4% in the second quarter. Wells Fargo & Company MN now owns 10,459 shares of the energy company’s stock worth $475,000 after buying an additional 1,152 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Noble Midstream Partners by 22.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 138,754 shares of the energy company’s stock worth $6,299,000 after buying an additional 25,165 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Noble Midstream Partners by 6,624.8% in the second quarter. JPMorgan Chase & Co. now owns 277,668 shares of the energy company’s stock worth $12,606,000 after buying an additional 273,539 shares in the last quarter. Cannell Peter B & Co. Inc. boosted its position in shares of Noble Midstream Partners by 23.3% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,047,375 shares of the energy company’s stock worth $47,551,000 after buying an additional 197,675 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its position in shares of Noble Midstream Partners by 41.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,875,518 shares of the energy company’s stock worth $82,281,000 after buying an additional 553,618 shares in the last quarter. 97.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Noble Midstream Partners (NBLX) opened at 42.22 on Monday. The stock has a market capitalization of $1.52 billion and a P/E ratio of 23.88. Noble Midstream Partners has a 12-month low of $26.00 and a 12-month high of $53.29. The stock has a 50 day moving average price of $45.08 and a 200 day moving average price of $47.09.

Noble Midstream Partners (NYSE:NBLX) last announced its earnings results on Thursday, August 3rd. The energy company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.23. The company had revenue of $57.78 million during the quarter, compared to the consensus estimate of $45.20 million. Noble Midstream Partners had a return on equity of 31.64% and a net margin of 50.57%. On average, equities analysts anticipate that Noble Midstream Partners will post $3.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.4457 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.78 dividend on an annualized basis and a yield of 4.22%. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.41. Noble Midstream Partners’s dividend payout ratio (DPR) is currently 67.17%.

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Noble Midstream Partners Company Profile

Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).

Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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