Noble Midstream Partners’ (NBLX) Outperform Rating Reiterated at Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Noble Midstream Partners (NYSE:NBLX) in a report issued on Monday morning, The Fly reports. They currently have a $40.00 target price on the energy company’s stock, down from their previous target price of $45.00.

Several other brokerages also recently commented on NBLX. Piper Jaffray Companies began coverage on shares of Noble Midstream Partners in a research note on Wednesday, July 17th. They issued a neutral rating and a $35.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of Noble Midstream Partners from an overweight rating to a neutral rating and reduced their target price for the company from $48.00 to $41.00 in a research note on Friday, June 7th. Zacks Investment Research upgraded shares of Noble Midstream Partners from a sell rating to a hold rating in a research note on Wednesday, August 7th. Finally, Rowe reduced their target price on shares of Noble Midstream Partners to $49.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $45.64.

NBLX opened at $24.35 on Monday. Noble Midstream Partners has a fifty-two week low of $24.03 and a fifty-two week high of $47.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s fifty day moving average price is $29.58 and its two-hundred day moving average price is $33.05. The company has a market capitalization of $971.89 million, a P/E ratio of 6.15, a P/E/G ratio of 0.38 and a beta of 1.33.

Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings results on Friday, August 2nd. The energy company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.10). Noble Midstream Partners had a return on equity of 12.28% and a net margin of 28.24%. The business had revenue of $158.26 million for the quarter, compared to analyst estimates of $136.40 million. On average, equities research analysts expect that Noble Midstream Partners will post 4.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were paid a $0.6418 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.57 annualized dividend and a dividend yield of 10.54%. Noble Midstream Partners’s dividend payout ratio is presently 64.90%.

Several large investors have recently modified their holdings of the company. Hodges Capital Management Inc. acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter valued at approximately $382,000. UBS Group AG boosted its holdings in shares of Noble Midstream Partners by 26.8% in the 2nd quarter. UBS Group AG now owns 621,363 shares of the energy company’s stock valued at $20,667,000 after buying an additional 131,460 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Noble Midstream Partners by 200.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 900 shares of the energy company’s stock valued at $30,000 after buying an additional 600 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter valued at approximately $287,000. Finally, Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Noble Midstream Partners by 2.0% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,352,968 shares of the energy company’s stock valued at $86,576,000 after buying an additional 47,204 shares during the last quarter. Institutional investors own 55.19% 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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Analyst Recommendations for Noble Midstream Partners (NYSE:NBLX)

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