ValuEngine Downgrades Noble Midstream Partners (NBLX) to Sell

Noble Midstream Partners (NYSE:NBLX) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Several other analysts have also issued reports on NBLX. Robert W. Baird set a $59.00 target price on shares of Noble Midstream Partners and gave the company a “buy” rating in a research report on Friday, August 10th. Citigroup boosted their target price on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Barclays cut their target price on shares of Noble Midstream Partners from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, June 12th. Zacks Investment Research raised shares of Noble Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Finally, Deutsche Bank initiated coverage on shares of Noble Midstream Partners in a report on Thursday, April 19th. They set a “buy” rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $59.50.

Shares of NYSE NBLX opened at $48.01 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.48 and a quick ratio of 0.45. The company has a market cap of $1.94 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.77 and a beta of 1.92. Noble Midstream Partners has a 12-month low of $41.99 and a 12-month high of $57.98.



Noble Midstream Partners (NYSE:NBLX) last announced its earnings results on Friday, August 3rd. The energy company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. The company had revenue of $121.97 million during the quarter, compared to analyst estimates of $114.90 million. Noble Midstream Partners had a net margin of 45.55% and a return on equity of 21.14%. equities research analysts anticipate that Noble Midstream Partners will post 4.09 EPS for the current year.

Large investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new position in Noble Midstream Partners during the first quarter valued at approximately $103,000. Baldwin Brothers Inc. MA purchased a new position in Noble Midstream Partners during the second quarter valued at approximately $105,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in Noble Midstream Partners during the second quarter valued at approximately $204,000. Summit Trail Advisors LLC purchased a new position in Noble Midstream Partners during the second quarter valued at approximately $211,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Noble Midstream Partners during the first quarter valued at approximately $252,000. 57.31% of the stock is currently owned by institutional investors and hedge funds.

About Noble Midstream Partners

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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