Piper Jaffray Companies Initiates Coverage on Noble Midstream Partners (NYSE:NBLX)
Analysts at Piper Jaffray Companies began coverage on shares of Noble Midstream Partners (NYSE:NBLX) in a research note issued on Wednesday, MarketBeat reports. The firm set a “neutral” rating and a $35.00 price target on the energy company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 12.98% from the stock’s current price. Piper Jaffray Companies also issued estimates for Noble Midstream Partners’ Q2 2019 earnings at $0.94 EPS, Q3 2019 earnings at $1.08 EPS, Q4 2019 earnings at $1.12 EPS, FY2019 earnings at $4.15 EPS, Q1 2020 earnings at $1.15 EPS, Q2 2020 earnings at $1.23 EPS, Q3 2020 earnings at $1.34 EPS, Q4 2020 earnings at $1.41 EPS, FY2020 earnings at $5.14 EPS and FY2021 earnings at $6.12 EPS.
Several other brokerages have also recently weighed in on NBLX. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Rowe cut their price objective on shares of Noble Midstream Partners to $49.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the company a “neutral” rating in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Noble Midstream Partners presently has a consensus rating of “Hold” and an average price target of $46.91.
Noble Midstream Partners stock opened at $30.98 on Wednesday. The company has a market capitalization of $1.23 billion, a PE ratio of 7.82, a P/E/G ratio of 0.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.71 and a current ratio of 0.71. Noble Midstream Partners has a 1 year low of $26.08 and a 1 year high of $56.40. The firm’s 50 day moving average is $32.33.
Institutional investors have recently added to or reduced their stakes in the business. Icon Wealth Partners LLC bought a new position in shares of Noble Midstream Partners in the first quarter worth about $36,000. Signaturefd LLC bought a new position in shares of Noble Midstream Partners in the first quarter worth about $56,000. American Century Companies Inc. bought a new position in shares of Noble Midstream Partners in the fourth quarter worth about $248,000. Tortoise Index Solutions LLC increased its stake in shares of Noble Midstream Partners by 23.5% in the first quarter. Tortoise Index Solutions LLC now owns 9,296 shares of the energy company’s stock worth $335,000 after purchasing an additional 1,770 shares during the period. Finally, Wiley BROS. Aintree Capital LLC bought a new position in shares of Noble Midstream Partners in the first quarter worth about $401,000. Institutional investors and hedge funds own 56.83% 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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