Analysts Anticipate Noble Midstream Partners LP (NBLX) Will Post Quarterly Sales of $45.6 Million
Equities analysts expect that Noble Midstream Partners LP (NYSE:NBLX) will post $45.6 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Noble Midstream Partners’ earnings. The highest sales estimate is $49.8 million and the lowest is $39.23 million. The firm is expected to issue its next earnings report on Monday, August 7th.
According to Zacks, analysts expect that Noble Midstream Partners will report full year sales of $45.6 million for the current year, with estimates ranging from $178.53 million to $263 million. For the next fiscal year, analysts expect that the company will post sales of $337.35 million per share, with estimates ranging from $262.83 million to $448.4 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Noble Midstream Partners.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, April 8th. Barclays PLC set a $55.00 price objective on Noble Midstream Partners and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Mizuho upped their price objective on Noble Midstream Partners from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Citigroup Inc reaffirmed a “buy” rating and issued a $49.00 price objective (up previously from $38.00) on shares of Noble Midstream Partners in a research note on Wednesday, February 1st. Finally, Deutsche Bank AG set a $39.00 price objective on Noble Midstream Partners and gave the company a “hold” rating in a research note on Tuesday, February 14th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.36.
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Noble Midstream Partners (NYSE:NBLX) opened at 46.57 on Thursday. Noble Midstream Partners has a 52 week low of $26.00 and a 52 week high of $53.29. The company has a market cap of $1.48 billion and a price-to-earnings ratio of 29.95. The stock has a 50 day moving average of $48.81 and a 200 day moving average of $42.80.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were issued a dividend of $0.4108 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Thursday, May 4th.
Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Noble Midstream Partners during the fourth quarter worth about $3,290,000. HITE Hedge Asset Management LLC boosted its position in Noble Midstream Partners by 11.4% in the fourth quarter. HITE Hedge Asset Management LLC now owns 535,730 shares of the energy company’s stock worth $19,286,000 after buying an additional 54,862 shares during the last quarter. FMR LLC boosted its position in Noble Midstream Partners by 2,288.5% in the fourth quarter. FMR LLC now owns 735,075 shares of the energy company’s stock worth $26,463,000 after buying an additional 704,300 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Noble Midstream Partners by 24.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,795 shares of the energy company’s stock worth $5,069,000 after buying an additional 27,438 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in Noble Midstream Partners by 181.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 237,246 shares of the energy company’s stock worth $8,541,000 after buying an additional 152,927 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.
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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