Noble Midstream Partners LP (NYSE:NBLX) Director Martin Salinas Purchases 1,750 Shares

Noble Midstream Partners LP (NYSE:NBLX) Director Martin Salinas purchased 1,750 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $19.62 per share, with a total value of $34,335.00.

Shares of Noble Midstream Partners stock traded down $0.43 on Friday, hitting $19.62. The company’s stock had a trading volume of 458,206 shares, compared to its average volume of 374,571. The company has a market capitalization of $796.13 million, a P/E ratio of 4.95 and a beta of 1.35. Noble Midstream Partners LP has a 52-week low of $19.50 and a 52-week high of $40.30. The firm has a fifty day moving average price of $24.31 and a 200-day moving average price of $24.46. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66.

Noble Midstream Partners (NYSE:NBLX) last posted its earnings results on Wednesday, February 12th. The energy company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.20. Noble Midstream Partners had a net margin of 26.19% and a return on equity of 11.62%. The firm had revenue of $190.77 million during the quarter, compared to the consensus estimate of $180.80 million. As a group, analysts expect that Noble Midstream Partners LP will post 3.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be issued a $0.6878 dividend. This represents a $2.75 annualized dividend and a dividend yield of 14.02%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.67. Noble Midstream Partners’s dividend payout ratio is 69.44%.

Several hedge funds have recently added to or reduced their stakes in NBLX. Ladenburg Thalmann Financial Services Inc. lifted its position in Noble Midstream Partners by 200.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 900 shares of the energy company’s stock valued at $30,000 after acquiring an additional 600 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Noble Midstream Partners by 12.7% during the third quarter. CIBC Private Wealth Group LLC now owns 1,166,691 shares of the energy company’s stock worth $28,141,000 after purchasing an additional 131,208 shares during the last quarter. Cutler Group LP increased its position in shares of Noble Midstream Partners by 100.0% during the third quarter. Cutler Group LP now owns 1,800 shares of the energy company’s stock worth $43,000 after purchasing an additional 900 shares in the last quarter. Cadence Capital Management LLC increased its position in shares of Noble Midstream Partners by 38.7% during the third quarter. Cadence Capital Management LLC now owns 126,849 shares of the energy company’s stock worth $3,060,000 after purchasing an additional 35,413 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Noble Midstream Partners by 6.4% during the third quarter. California Public Employees Retirement System now owns 107,940 shares of the energy company’s stock worth $2,604,000 after purchasing an additional 6,470 shares in the last quarter. Institutional investors and hedge funds own 53.02% of the company’s stock.

A number of research firms recently commented on NBLX. Piper Sandler decreased their price objective on shares of Noble Midstream Partners from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Credit Suisse Group cut shares of Noble Midstream Partners from an “outperform” rating to a “hold” rating and dropped their target price for the company from $31.00 to $23.00 in a report on Monday, November 25th. ValuEngine cut shares of Noble Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Barclays downgraded shares of Noble Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $29.00 price target for the company. in a research report on Tuesday, January 14th. Finally, Zacks Investment Research lowered Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.75.

Noble Midstream Partners Company Profile

Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. It operates through three segments: Gathering Systems, Fresh Water Delivery, and Investments and Other. The company provides crude oil, natural gas, and water-related midstream services.

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