Noble Midstream Partners (NYSE:NBLX) had its price objective lowered by Wells Fargo & Co from $25.00 to $24.00 in a report published on Thursday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has an equal weight rating on the energy company’s stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Noble Midstream Partners from a buy rating to a hold rating in a research report on Saturday, November 16th. Credit Suisse Group cut shares of Noble Midstream Partners from an outperform rating to a hold rating and reduced their price target for the company from $31.00 to $23.00 in a research report on Monday, November 25th. Robert W. Baird cut shares of Noble Midstream Partners from an outperform rating to a neutral rating and reduced their price target for the company from $27.00 to $23.00 in a research report on Thursday. ValuEngine cut shares of Noble Midstream Partners from a strong-buy rating to a buy rating in a research report on Wednesday, December 18th. Finally, Barclays cut shares of Noble Midstream Partners from an overweight rating to an equal weight rating and set a $29.00 price target on the stock. in a research report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Noble Midstream Partners presently has an average rating of Hold and a consensus price target of $30.75.
NYSE NBLX traded down $0.43 on Thursday, reaching $19.62. 458,206 shares of the company’s stock traded hands, compared to its average volume of 374,571. Noble Midstream Partners has a 12 month low of $19.50 and a 12 month high of $40.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50-day simple moving average of $24.49 and a 200 day simple moving average of $24.52. The stock has a market cap of $796.13 million, a PE ratio of 4.95 and a beta of 1.35.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be issued a $0.6878 dividend. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.75 annualized dividend and a dividend yield of 14.02%. Noble Midstream Partners’s dividend payout ratio (DPR) is currently 69.44%.
In related news, Director Andy Viens purchased 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $21.79 per share, for a total transaction of $32,685.00. Following the completion of the acquisition, the director now directly owns 11,291 shares in the company, valued at approximately $246,030.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brent J. Smolik purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the acquisition, the chief executive officer now owns 5,000 shares of the company’s stock, valued at $107,500. The disclosure for this purchase can be found here. Insiders bought 7,500 shares of company stock worth $161,735 in the last 90 days.
A number of large investors have recently added to or reduced their stakes in NBLX. Guggenheim Capital LLC lifted its position in Noble Midstream Partners by 7.5% during the fourth quarter. Guggenheim Capital LLC now owns 24,859 shares of the energy company’s stock valued at $660,000 after buying an additional 1,735 shares during the period. UBS Group AG lifted its holdings in Noble Midstream Partners by 3.2% in the 4th quarter. UBS Group AG now owns 788,030 shares of the energy company’s stock worth $20,930,000 after purchasing an additional 24,212 shares in the last quarter. Brookfield Public Securities Group LLC purchased a new position in Noble Midstream Partners in the 4th quarter worth approximately $46,063,000. Cohen & Steers Inc. lifted its holdings in Noble Midstream Partners by 20.4% in the 4th quarter. Cohen & Steers Inc. now owns 250,601 shares of the energy company’s stock worth $6,656,000 after purchasing an additional 42,419 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Noble Midstream Partners by 124.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 222,050 shares of the energy company’s stock worth $5,898,000 after purchasing an additional 123,060 shares in the last quarter. Institutional investors and hedge funds own 53.02% of the company’s stock.
About Noble Midstream Partners
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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