Brokerages Anticipate Noble Midstream Partners LP (NBLX) Will Announce Quarterly Sales of $54.47 Million
Analysts predict that Noble Midstream Partners LP (NYSE:NBLX) will report $54.47 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Noble Midstream Partners’ earnings, with the highest sales estimate coming in at $66.30 million and the lowest estimate coming in at $42.63 million. Noble Midstream Partners posted sales of $48.24 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The company is scheduled to issue its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Noble Midstream Partners will report full-year sales of $54.47 million for the current fiscal year, with estimates ranging from $176.17 million to $245.60 million. For the next financial year, analysts expect that the company will post sales of $344.73 million per share, with estimates ranging from $243.98 million to $458.20 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 issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.23. Noble Midstream Partners had a net margin of 50.57% and a return on equity of 31.64%. The firm had revenue of $57.78 million for the quarter, compared to analyst estimates of $45.20 million.
A number of analysts recently issued reports on NBLX shares. Scotiabank set a $50.00 price target on Noble Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Mizuho downgraded Noble Midstream Partners from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a research report on Monday, July 10th. Barclays PLC set a $55.00 price target on Noble Midstream Partners and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Finally, Zacks Investment Research downgraded Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.45.
Hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in Noble Midstream Partners by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,179 shares of the energy company’s stock worth $462,000 after buying an additional 26 shares during the last quarter. Diversified Trust Co raised its stake in Noble Midstream Partners by 1.7% in the second quarter. Diversified Trust Co now owns 5,417 shares of the energy company’s stock worth $246,000 after buying an additional 88 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Noble Midstream Partners by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 4,129 shares of the energy company’s stock worth $215,000 after buying an additional 125 shares during the last quarter. NBW Capital LLC raised its stake in Noble Midstream Partners by 0.3% in the second quarter. NBW Capital LLC now owns 277,378 shares of the energy company’s stock worth $12,593,000 after buying an additional 788 shares during the last quarter. Finally, Taylor Wealth Management Partners raised its stake in Noble Midstream Partners by 95.0% in the first quarter. Taylor Wealth Management Partners now owns 1,950 shares of the energy company’s stock worth $102,000 after buying an additional 950 shares during the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.
Shares of Noble Midstream Partners (NBLX) traded up 0.02% during midday trading on Friday, reaching $44.21. 98,344 shares of the company’s stock traded hands. Noble Midstream Partners has a 52-week low of $26.00 and a 52-week high of $53.29. The company has a 50 day moving average of $44.72 and a 200 day moving average of $47.11. The firm has a market cap of $1.59 billion and a PE ratio of 25.01.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were paid a $0.4457 dividend. This is a positive change from Noble Midstream Partners’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.78 dividend on an annualized basis and a yield of 4.03%. Noble Midstream Partners’s dividend payout ratio (DPR) is presently 67.17%.
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Noble Midstream Partners Company Profile
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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