Noble Midstream Partners LP (NBLX) to Release Quarterly Earnings on Monday
Noble Midstream Partners LP (NYSE:NBLX) will announce its earnings results after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $0.93 per share for the quarter.
Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.75 by $0.23. The business had revenue of $57.78 million during the quarter, compared to analysts’ expectations of $45.20 million. Noble Midstream Partners had a return on equity of 31.64% and a net margin of 50.57%. On average, analysts expect Noble Midstream Partners to post $3.86 EPS for the current fiscal year and $4.86 EPS for the next fiscal year.
Noble Midstream Partners LP (NBLX) traded down 1.42% during mid-day trading on Monday, hitting $50.77. The stock had a trading volume of 8,503 shares. The company has a 50-day moving average of $50.44 and a 200-day moving average of $47.40. The stock has a market cap of $1.82 billion and a price-to-earnings ratio of 28.72. Noble Midstream Partners LP has a 12-month low of $28.89 and a 12-month high of $56.33.
Several brokerages have recently issued reports on NBLX. Zacks Investment Research upgraded Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Wednesday, October 18th. Seaport Global Securities began coverage on Noble Midstream Partners in a research report on Tuesday, October 10th. They set a “buy” rating and a $60.00 price objective for the company. BidaskClub downgraded Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded Noble Midstream Partners from a “hold” rating to a “buy” rating in a research report on Friday, September 15th. Finally, Robert W. Baird restated a “buy” rating and issued a $57.00 target price on shares of Noble Midstream Partners in a research report on Thursday, August 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Noble Midstream Partners currently has an average rating of “Buy” and an average price target of $52.25.
In other Noble Midstream Partners news, insider Thomas W. Christensen sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $54.00, for a total value of $81,000.00. Following the completion of the sale, the insider now directly owns 2,868 shares in the company, valued at $154,872. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
An institutional investor recently bought a new position in Noble Midstream Partners stock. Northern Trust Corp acquired a new stake in shares of Noble Midstream Partners LP (NYSE:NBLX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,687 shares of the energy company’s stock, valued at approximately $213,000. 83.91% of the stock is owned by institutional investors.
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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