Shares of Noble Midstream Partners LP (NYSE:NBLX) were down 7.6% during mid-day trading on Monday . The company traded as low as $33.51 and last traded at $34.21. Approximately 709,800 shares changed hands during trading, an increase of 347% from the average daily volume of 158,801 shares. The stock had previously closed at $37.02.
A number of analysts have recently issued reports on NBLX shares. Robert W. Baird set a $59.00 price objective on shares of Noble Midstream Partners and gave the stock a “buy” rating in a report on Friday, August 10th. Citigroup lifted their price objective on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Wells Fargo & Co downgraded shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday. Barclays dropped their price objective on shares of Noble Midstream Partners from $64.00 to $59.00 and set an “overweight” rating for the company in a report on Wednesday, August 29th. Finally, ValuEngine downgraded shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Noble Midstream Partners currently has an average rating of “Buy” and a consensus target price of $59.00.
The stock has a market capitalization of $1.47 billion, a P/E ratio of 8.34 and a beta of 1.57. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 0.45.
Large investors have recently modified their holdings of the stock. Baldwin Brothers Inc. MA purchased a new position in Noble Midstream Partners in the 2nd quarter worth $105,000. Stratos Wealth Partners LTD. purchased a new position in Noble Midstream Partners in the 1st quarter worth $103,000. Tower Research Capital LLC TRC purchased a new position in Noble Midstream Partners in the 2nd quarter worth $159,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in Noble Midstream Partners in the 2nd quarter worth $204,000. Finally, Summit Trail Advisors LLC purchased a new position in Noble Midstream Partners in the 2nd quarter worth $211,000. Institutional investors own 56.43% of the company’s stock.
About Noble Midstream Partners (NYSE:NBLX)
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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