Noble Midstream Partners LP (NBLX) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Noble Midstream Partners LP (NYSE:NBLX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The firm currently has $57.00 target price on the energy company’s stock.

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. “

A number of other brokerages also recently issued reports on NBLX. BidaskClub raised shares of Noble Midstream Partners from a hold rating to a buy rating in a research report on Saturday, September 2nd. ValuEngine raised shares of Noble Midstream Partners from a hold rating to a buy rating in a research report on Friday, September 15th. Scotiabank set a $50.00 price objective on shares of Noble Midstream Partners and gave the company a buy rating in a research report on Thursday, June 22nd. Mizuho downgraded shares of Noble Midstream Partners from a buy rating to a neutral rating and set a $51.00 target price for the company. in a report on Monday, July 10th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $57.00 target price on shares of Noble Midstream Partners in a report on Thursday, August 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $52.25.

Noble Midstream Partners (NBLX) traded up 1.38% during midday trading on Wednesday, hitting $50.74. The company’s stock had a trading volume of 19,227 shares. Noble Midstream Partners has a 12 month low of $28.89 and a 12 month high of $56.33. The company’s 50 day moving average price is $50.22 and its 200 day moving average price is $47.38. The firm has a market cap of $1.82 billion and a P/E ratio of 28.70.

Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. Noble Midstream Partners had a net margin of 50.57% and a return on equity of 31.64%. The firm had revenue of $57.78 million during the quarter, compared to the consensus estimate of $45.20 million. Analysts expect that Noble Midstream Partners will post $3.86 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Noble Midstream Partners LP (NBLX) Upgraded by Zacks Investment Research to Buy” was published by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://www.truebluetribune.com/2017/10/19/noble-midstream-partners-lp-nblx-upgraded-by-zacks-investment-research-to-buy.html.

In related news, insider Thomas W. Christensen sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $54.00, for a total value of $81,000.00. Following the completion of the transaction, the insider now owns 2,868 shares of the company’s stock, valued at approximately $154,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

A number of hedge funds have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. lifted its stake in Noble Midstream Partners by 34.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,945,365 shares of the energy company’s stock worth $130,760,000 after purchasing an additional 754,345 shares in the last quarter. FMR LLC lifted its stake in Noble Midstream Partners by 58.0% in the 2nd quarter. FMR LLC now owns 2,162,276 shares of the energy company’s stock worth $95,648,000 after purchasing an additional 794,168 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Noble Midstream Partners by 41.9% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,875,518 shares of the energy company’s stock worth $82,281,000 after purchasing an additional 553,618 shares in the last quarter. Cannell Peter B & Co. Inc. lifted its stake in Noble Midstream Partners by 23.3% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,047,375 shares of the energy company’s stock worth $47,551,000 after purchasing an additional 197,675 shares in the last quarter. Finally, Spirit of America Management Corp NY lifted its stake in Noble Midstream Partners by 13.3% in the 2nd quarter. Spirit of America Management Corp NY now owns 288,830 shares of the energy company’s stock worth $13,113,000 after purchasing an additional 34,000 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.

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)

Receive News & Ratings for Noble Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply