Noble Midstream Partners LP (NYSE:NBLX) Upgraded at Zacks Investment Research

Noble Midstream Partners LP (NYSE:NBLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, October 18th. The firm presently has a $57.00 price target on the energy company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.77% from the stock’s previous close.

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. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Noble Midstream Partners from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Scotiabank set a $50.00 target price on shares of Noble Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, June 22nd. Seaport Global Securities started coverage on shares of Noble Midstream Partners in a research report on Tuesday, October 10th. They set a “buy” rating and a $60.00 price target on the stock. BidaskClub cut shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Robert W. Baird reissued a “buy” rating and set a $57.00 price target on shares of Noble Midstream Partners in a research report on Thursday, August 31st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $52.50.

Shares of Noble Midstream Partners (NBLX) traded up $0.93 during trading on Wednesday, hitting $51.46. 38,147 shares of the company traded hands, compared to its average volume of 52,597. The stock has a market capitalization of $1,012.25, a PE ratio of 13.66, a price-to-earnings-growth ratio of 0.63 and a beta of 0.89. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.59.

Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings data on Monday, October 30th. The energy company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.10. Noble Midstream Partners had a net margin of 55.83% and a return on equity of 36.74%. The firm had revenue of $63.11 million during the quarter, compared to analyst estimates of $60.29 million. sell-side analysts forecast that Noble Midstream Partners will post 4.01 EPS for the current fiscal year.

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In related news, insider Thomas W. Christensen sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $54.00, for a total value of $81,000.00. Following the sale, the insider now directly owns 2,868 shares in the company, valued at approximately $154,872. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Miller Howard Investments Inc. NY boosted its holdings in Noble Midstream Partners by 6.6% in the third quarter. Miller Howard Investments Inc. NY now owns 25,975 shares of the energy company’s stock valued at $1,347,000 after purchasing an additional 1,612 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Noble Midstream Partners by 44.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 62,900 shares of the energy company’s stock valued at $3,263,000 after acquiring an additional 19,500 shares during the period. Spirit of America Management Corp NY raised its stake in shares of Noble Midstream Partners by 19.5% during the third quarter. Spirit of America Management Corp NY now owns 345,230 shares of the energy company’s stock worth $17,907,000 after purchasing an additional 56,400 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Noble Midstream Partners by 20.5% during the second quarter. Westwood Holdings Group Inc. now owns 205,459 shares of the energy company’s stock worth $9,328,000 after purchasing an additional 34,948 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Noble Midstream Partners by 111.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 28,500 shares of the energy company’s stock worth $1,294,000 after purchasing an additional 15,000 shares during the last quarter. 84.16% of the stock is owned by hedge funds and other institutional investors.

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).

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Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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