Noble Midstream Partners LP (NBLX) Releases Quarterly Earnings Results
Noble Midstream Partners LP (NYSE:NBLX) announced its quarterly earnings results on Monday. The energy company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10, Yahoo Finance reports. Noble Midstream Partners had a return on equity of 31.64% and a net margin of 50.57%.
Noble Midstream Partners (NYSE NBLX) traded down 1.84% on Tuesday, hitting $50.75. The company had a trading volume of 12,547 shares. Noble Midstream Partners has a one year low of $28.89 and a one year high of $56.33. The stock’s 50-day moving average price is $50.70 and its 200 day moving average price is $47.35. The company has a market capitalization of $1.82 billion and a P/E ratio of 28.70.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be issued a dividend of $0.467 per share. The ex-dividend date is Friday, November 3rd. 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 3.61%. Noble Midstream Partners’s dividend payout ratio (DPR) is presently 67.17%.
Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, October 18th. Seaport Global Securities assumed coverage on Noble Midstream Partners in a report on Tuesday, October 10th. They issued a “buy” rating and a $60.00 price target for the company. BidaskClub downgraded Noble Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine upgraded Noble Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Finally, Robert W. Baird restated a “buy” rating and issued a $57.00 price target on shares of Noble Midstream Partners in a report on Thursday, August 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Noble Midstream Partners presently has an average rating of “Buy” and an average target price of $52.25.
In related 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 transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A hedge fund recently bought a new stake in Noble Midstream Partners stock. Northern Trust Corp acquired a new position in shares of Noble Midstream Partners LP (NYSE:NBLX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,687 shares of the energy company’s stock, valued at approximately $213,000. 84.10% of the stock is currently owned by institutional investors and hedge funds.
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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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