Noble Midstream Partners (NBLX) Sees Unusually-High Trading Volume

Shares of Noble Midstream Partners LP (NYSE:NBLX) saw an uptick in trading volume on Friday . 3,254,855 shares changed hands during trading, an increase of 1,093% from the previous session’s volume of 272,885 shares.The stock last traded at $37.25 and had previously closed at $37.14.

Several brokerages have weighed in on NBLX. Zacks Investment Research cut Noble Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Citigroup dropped their price objective on Noble Midstream Partners from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. TheStreet cut Noble Midstream Partners from a “c-” rating to a “d+” rating in a research note on Thursday, December 20th. Robert W. Baird cut Noble Midstream Partners from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $53.00 to $39.00 in a research note on Thursday, March 7th. Finally, Wells Fargo & Co set a $40.00 target price on Noble Midstream Partners and gave the stock a “hold” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.00.

The company has a market capitalization of $1.50 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 0.84 and a beta of 1.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.68 and a quick ratio of 0.66.

Noble Midstream Partners (NYSE:NBLX) last released its earnings results on Tuesday, February 19th. The energy company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.05). The business had revenue of $136.65 million for the quarter, compared to the consensus estimate of $141.30 million. Noble Midstream Partners had a return on equity of 13.35% and a net margin of 32.35%. On average, equities analysts expect that Noble Midstream Partners LP will post 4.54 EPS for the current year.

In other Noble Midstream Partners news, insider Thomas W. Christensen bought 1,500 shares of the stock in a transaction dated Thursday, February 21st. The shares were bought at an average cost of $34.00 per share, for a total transaction of $51,000.00. Following the purchase, the insider now directly owns 10,573 shares of the company’s stock, valued at approximately $359,482. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Institutional investors have recently made changes to their positions in the stock. Franklin Square Holdings L.P. raised its stake in Noble Midstream Partners by 114.5% in the 3rd quarter. Franklin Square Holdings L.P. now owns 38,400 shares of the energy company’s stock valued at $1,497,000 after acquiring an additional 20,500 shares during the period. Port Capital LLC raised its stake in Noble Midstream Partners by 113.5% in the 3rd quarter. Port Capital LLC now owns 151,681 shares of the energy company’s stock valued at $5,371,000 after acquiring an additional 80,647 shares during the period. Marshall Wace LLP bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $292,000. JPMorgan Chase & Co. raised its stake in Noble Midstream Partners by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,260 shares of the energy company’s stock valued at $16,333,000 after acquiring an additional 21,938 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Noble Midstream Partners by 2.2% in the 3rd quarter. Wells Fargo & Company MN now owns 369,157 shares of the energy company’s stock valued at $13,073,000 after acquiring an additional 7,977 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

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Noble Midstream Partners Company Profile (NYSE:NBLX)

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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