Zacks Investment Research downgraded shares of Noble Midstream Partners (NYSE:NBLX) from a hold rating to a sell rating in a report published on Tuesday morning.
According to Zacks, “Noble Midstream Partners LP is engaged in crude oil and natural gas exploration and production. Its operating area includes onshore which consists of US DJ Basin, Marcellus Shale, Eagle Ford Shale and Permian Basin as well as offshore in deepwater Gulf of Mexico, Eastern Mediterranean and West Africa. Noble Midstream Partners LP is based in Houston, United States. “
Several other research firms have also recently weighed in on NBLX. Mitsubishi UFJ Financial Group lowered their price target on Noble Midstream Partners to $57.00 and set an overweight rating on the stock in a report on Friday, November 2nd. TheStreet raised Noble Midstream Partners from a d rating to a c- rating in a report on Wednesday, November 14th. Barclays lowered their price target on Noble Midstream Partners from $59.00 to $56.00 and set an overweight rating on the stock in a report on Friday, October 12th. Bank of America increased their price target on Noble Midstream Partners from $49.00 to $58.00 and gave the company a buy rating in a report on Wednesday, November 7th. Finally, Citigroup lowered their price target on Noble Midstream Partners from $64.00 to $52.00 and set a buy rating on the stock in a report on Thursday, November 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Noble Midstream Partners has an average rating of Buy and a consensus price target of $56.00.
NYSE NBLX opened at $32.01 on Tuesday. The firm has a market cap of $1.35 billion, a PE ratio of 7.81, a PEG ratio of 0.49 and a beta of 1.32. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43. Noble Midstream Partners has a 1-year low of $26.08 and a 1-year high of $57.98.
Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings results on Thursday, November 1st. The energy company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. The firm had revenue of $139.16 million for the quarter, compared to analysts’ expectations of $119.25 million. Noble Midstream Partners had a return on equity of 15.89% and a net margin of 38.18%. As a group, analysts forecast that Noble Midstream Partners will post 4.01 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Tortoise Index Solutions LLC raised its holdings 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. Tower Research Capital LLC TRC bought a new position in Noble Midstream Partners in the 2nd quarter worth $159,000. Marshall Wace LLP purchased a new stake in Noble Midstream Partners in the 3rd quarter worth $292,000. Bank of New York Mellon Corp increased its stake in 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 buying an additional 1,462 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Noble Midstream Partners in the 3rd quarter worth $341,000. 56.61% of the stock is currently owned by 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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