JPMorgan Chase & Co. boosted its stake in shares of Noble Midstream Partners LP (NYSE:NBLX) by 5.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 461,260 shares of the energy company’s stock after purchasing an additional 21,938 shares during the quarter. JPMorgan Chase & Co.’s holdings in Noble Midstream Partners were worth $16,333,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. BP Capital Fund Advisors LLC acquired a new position in Noble Midstream Partners during the 3rd quarter worth $1,428,000. Baird Financial Group Inc. bought a new stake in shares of Noble Midstream Partners in the 3rd quarter worth $341,000. Tortoise Index Solutions LLC raised its stake in shares of Noble Midstream Partners by 57.1% in the 3rd quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after buying an additional 1,361 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Noble Midstream Partners by 17.0% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 2,603,168 shares of the energy company’s stock worth $92,178,000 after buying an additional 378,046 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Noble Midstream Partners in the 3rd quarter worth $1,593,000. Institutional investors own 57.22% of the company’s stock.
A number of analysts have recently commented on NBLX shares. Zacks Investment Research downgraded Noble Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Mitsubishi UFJ Financial Group dropped their price objective on Noble Midstream Partners to $57.00 and set an “overweight” rating on the stock in a research note on Friday, November 2nd. Bank of America boosted their price objective on Noble Midstream Partners from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Credit Suisse Group boosted their price objective on Noble Midstream Partners from $47.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, November 8th. Finally, TheStreet raised Noble Midstream Partners from a “d” rating to a “c-” rating in a research note on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Noble Midstream Partners currently has a consensus rating of “Buy” and a consensus price target of $56.00.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 11th. Stockholders of record on Monday, February 4th were paid a $0.5858 dividend. This represents a $2.34 dividend on an annualized basis and a dividend yield of 7.46%. The ex-dividend date was Friday, February 1st. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.56. Noble Midstream Partners’s payout ratio is currently 57.07%.
Noble Midstream Partners Company Profile
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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