Cushing Asset Management LP increased its holdings in Noble Midstream Partners LP (NYSE:NBLX) by 0.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 365,550 shares of the energy company’s stock after buying an additional 2,156 shares during the period. Cushing Asset Management LP owned about 1.57% of Noble Midstream Partners worth $18,278,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Dallas Securities Inc. acquired a new position in shares of Noble Midstream Partners in the 4th quarter valued at about $135,000. Edge Advisors LLC bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $204,000. Taurus Asset Management LLC bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $207,000. Northern Trust Corp bought a new stake in Noble Midstream Partners in the 2nd quarter valued at about $213,000. Finally, Harbour Capital Advisors LLC bought a new stake in Noble Midstream Partners in the 3rd quarter valued at about $301,000. 89.06% of the stock is owned by institutional investors and hedge funds.
In related news, Director Andy Viens purchased 2,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were bought at an average cost of $51.15 per share, for a total transaction of $102,300.00. Following the transaction, the director now owns 6,741 shares of the company’s stock, valued at $344,802.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NBLX has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. ValuEngine upgraded shares of Noble Midstream Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Barclays cut their price objective on shares of Noble Midstream Partners from $69.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 7th. Robert W. Baird set a $61.00 price objective on shares of Noble Midstream Partners and gave the company a “buy” rating in a research report on Tuesday, March 6th. Finally, Credit Suisse Group initiated coverage on shares of Noble Midstream Partners in a research report on Thursday, January 4th. They issued an “outperform” rating and a $61.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $58.43.
Shares of Noble Midstream Partners LP (NYSE:NBLX) opened at $49.25 on Wednesday. Noble Midstream Partners LP has a 52-week low of $41.90 and a 52-week high of $57.98. The company has a market cap of $1,975.86, a PE ratio of 12.27 and a beta of 1.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.75 and a current ratio of 0.75.
Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings results on Tuesday, February 20th. The energy company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Noble Midstream Partners had a return on equity of 34.74% and a net margin of 58.40%. The company had revenue of $68.07 million for the quarter, compared to the consensus estimate of $65.03 million. sell-side analysts anticipate that Noble Midstream Partners LP will post 4.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were given a dividend of $0.4883 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 2nd. Noble Midstream Partners’s payout ratio is 48.03%.
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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