Brokerages expect that Noble Midstream Partners LP (NYSE:NBLX) will post $65.03 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Noble Midstream Partners’ earnings. The highest sales estimate is $73.30 million and the lowest is $57.79 million. Noble Midstream Partners posted sales of $48.47 million during the same quarter last year, which suggests a positive year over year growth rate of 34.2%. The company is expected to issue its next earnings results on Monday, February 12th.
According to Zacks, analysts expect that Noble Midstream Partners will report full-year sales of $65.03 million for the current fiscal year, with estimates ranging from $189.59 million to $244.50 million. For the next year, analysts anticipate that the firm will report sales of $329.40 million per share, with estimates ranging from $263.28 million to $479.30 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Noble Midstream Partners.
Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings data on Monday, October 30th. The energy company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.10. The firm had revenue of $63.11 million for the quarter, compared to the consensus estimate of $60.29 million. Noble Midstream Partners had a net margin of 55.83% and a return on equity of 36.74%.
A number of equities analysts have issued reports on the stock. ValuEngine downgraded shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub downgraded shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Mizuho set a $53.00 price objective on shares of Noble Midstream Partners and gave the stock a “hold” rating in a report on Tuesday, October 31st. Seaport Global Securities assumed coverage on shares of Noble Midstream Partners in a report on Tuesday, October 10th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Robert W. Baird reissued a “buy” rating and issued a $57.00 price target on shares of Noble Midstream Partners in a report on Thursday, August 31st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.50.
In related news, insider Thomas W. Christensen sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $54.00, for a total value of $81,000.00. Following the transaction, the insider now directly owns 2,868 shares of the company’s stock, valued at approximately $154,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A number of institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $1,208,000. California Public Employees Retirement System bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $332,000. Taurus Asset Management LLC bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $207,000. Anchor Bolt Capital LP raised its stake in Noble Midstream Partners by 141.5% in the 3rd quarter. Anchor Bolt Capital LP now owns 105,038 shares of the energy company’s stock valued at $5,448,000 after acquiring an additional 61,553 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $12,732,000. Institutional investors and hedge funds own 87.95% of the company’s stock.
Noble Midstream Partners (NYSE:NBLX) opened at $50.17 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $1,800.00 and a price-to-earnings ratio of 13.56. Noble Midstream Partners has a fifty-two week low of $34.00 and a fifty-two week high of $56.33.
The business also recently declared a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Monday, November 6th were issued a $0.467 dividend. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.45. This represents a $1.87 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, November 3rd. Noble Midstream Partners’s payout ratio is 46.63%.
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About Noble Midstream Partners
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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