Noble Midstream Partners (NYSE:NBLX) Price Target Cut to $31.00 by Analysts at Credit Suisse Group

Noble Midstream Partners (NYSE:NBLX) had its target price reduced by Credit Suisse Group from $40.00 to $31.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the energy company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 42.40% from the stock’s current price.

Several other equities analysts have also issued reports on NBLX. Noble Financial began coverage on Noble Midstream Partners in a research report on Tuesday, September 3rd. They set a “sector perform” rating and a $29.00 price target on the stock. Bank of America reduced their price target on Noble Midstream Partners from $42.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Barclays set a $30.00 price target on Noble Midstream Partners and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Zacks Investment Research upgraded Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, October 16th. Finally, Scotiabank began coverage on Noble Midstream Partners in a research report on Tuesday, September 3rd. They set a “sector perform” rating and a $29.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Noble Midstream Partners presently has an average rating of “Hold” and an average target price of $35.58.

NBLX traded up $0.01 on Friday, hitting $21.77. 595,486 shares of the company were exchanged, compared to its average volume of 252,285. The firm has a fifty day simple moving average of $23.79 and a two-hundred day simple moving average of $28.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. Noble Midstream Partners has a 12 month low of $21.09 and a 12 month high of $40.30. The stock has a market capitalization of $869.65 million, a PE ratio of 5.50, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42.

Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.04). Noble Midstream Partners had a return on equity of 11.62% and a net margin of 26.19%. The company had revenue of $169.32 million for the quarter, compared to the consensus estimate of $170.05 million. On average, equities analysts expect that Noble Midstream Partners will post 3.61 earnings per share for the current year.

Several hedge funds have recently modified their holdings of NBLX. Wiley BROS. Aintree Capital LLC grew its position in shares of Noble Midstream Partners by 97.9% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 22,050 shares of the energy company’s stock worth $733,000 after buying an additional 10,910 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Noble Midstream Partners by 16.4% in the 2nd quarter. Ballentine Partners LLC now owns 21,370 shares of the energy company’s stock worth $711,000 after buying an additional 3,010 shares during the last quarter. Northern Oak Wealth Management Inc. bought a new stake in shares of Noble Midstream Partners in the 2nd quarter worth approximately $26,000. BNP Paribas Arbitrage SA bought a new stake in shares of Noble Midstream Partners in the 2nd quarter worth approximately $176,000. Finally, Signaturefd LLC grew its position in shares of Noble Midstream Partners by 80.6% in the 2nd quarter. Signaturefd LLC now owns 2,800 shares of the energy company’s stock worth $93,000 after buying an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Noble Midstream Partners Company Profile

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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