In a report issued on October 15, Christopher Tillett from Barclays maintained a Hold rating on Noble Midstream Partners (NBLX – Research Report), with a price target of $10.00. The company’s shares closed last Friday at $8.51.
According to TipRanks.com, Tillett is a 1-star analyst with an average return of -0.4% and a 45.1% success rate. Tillett covers the Industrial Goods sector, focusing on stocks such as Dcp Midstream Partners, Magellan Midstream, and Rattler Midstream.
Currently, the analyst consensus on Noble Midstream Partners is a Hold with an average price target of $9.20.
Based on Noble Midstream Partners’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $146 million and net profit of $48.24 million. In comparison, last year the company earned revenue of $171 million and had a net profit of $31.77 million.
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Noble Midstream Partners LP owns, operates, develops and acquires domestic midstream infrastructure assets. It operates through the following segments: Gathering Systems, Fresh Water Delivery, Investments in Midstream Entities and Corporate. The Gathering Systems segment involves in gathering crude oil, natural gas, and produced water. The Fresh Water Delivery segment provide services for both treated produced water and raw fresh water that has been withdrawn from a river or ground water. The Investments in Midstream Entities segment include investments in the Joint Venture and White Cliffs Interest as well as all general partnership activities. The Corporate segment includes all general Partnership activity and expenses. The company was founded on December 23, 2014 and is headquartered in Houston, TX.