Brokerages expect Noble Midstream Partners LP (NYSE:NBLX) to post sales of $201.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Noble Midstream Partners’ earnings. The lowest sales estimate is $196.40 million and the highest is $207.00 million. Noble Midstream Partners reported sales of $147.96 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 36.3%. The firm is expected to report its next quarterly earnings results on Friday, May 1st.
According to Zacks, analysts expect that Noble Midstream Partners will report full year sales of $892.25 million for the current fiscal year, with estimates ranging from $881.70 million to $902.80 million. For the next year, analysts forecast that the business will report sales of $1.04 billion, with estimates ranging from $1.00 billion to $1.09 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Noble Midstream Partners.
Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings results on Wednesday, February 12th. The energy company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.20. The business had revenue of $190.77 million during the quarter, compared to analyst estimates of $180.80 million. Noble Midstream Partners had a return on equity of 11.62% and a net margin of 26.19%.
Several equities research analysts have recently issued reports on the company. Wells Fargo & Co reduced their price target on Noble Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Zacks Investment Research upgraded Noble Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. ValuEngine lowered Noble Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Barclays lowered Noble Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $29.00 price target for the company. in a report on Tuesday, January 14th. Finally, Piper Sandler reduced their price target on Noble Midstream Partners from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.33.
Shares of Noble Midstream Partners stock opened at $3.21 on Thursday. The firm has a market cap of $121.70 million, a price-to-earnings ratio of 0.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. Noble Midstream Partners has a 52-week low of $1.81 and a 52-week high of $40.30. The stock has a 50-day simple moving average of $13.44 and a 200-day simple moving average of $21.58.
In related news, CEO Brent J. Smolik bought 9,850 shares of Noble Midstream Partners stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average cost of $14.83 per share, for a total transaction of $146,075.50. Also, Director Martin Salinas bought 1,750 shares of Noble Midstream Partners stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $19.62 per share, with a total value of $34,335.00. Over the last 90 days, insiders purchased 18,400 shares of company stock valued at $242,007.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new stake in Noble Midstream Partners in the 4th quarter worth approximately $32,000. Vestcor Investment Management Corp bought a new position in Noble Midstream Partners in the 4th quarter worth approximately $37,000. Evoke Wealth LLC bought a new position in Noble Midstream Partners in the 3rd quarter worth approximately $45,000. Penserra Capital Management LLC bought a new position in Noble Midstream Partners in the 3rd quarter worth approximately $85,000. Finally, Parkside Financial Bank & Trust bought a new position in Noble Midstream Partners in the 4th quarter worth approximately $132,000. Hedge funds and other institutional investors own 53.02% of the company’s stock.
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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