Zacks: Analysts Anticipate Noble Midstream Partners LP (NBLX) to Post $1.05 Earnings Per Share

Equities analysts expect that Noble Midstream Partners LP (NYSE:NBLX) will report $1.05 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Noble Midstream Partners’ earnings. The highest EPS estimate is $1.22 and the lowest is $0.91. Noble Midstream Partners posted earnings per share of $1.15 during the same quarter last year, which would suggest a negative year over year growth rate of 8.7%. The business is scheduled to report its next earnings results on Monday, October 29th.

On average, analysts expect that Noble Midstream Partners will report full year earnings of $3.99 per share for the current fiscal year, with EPS estimates ranging from $3.63 to $4.33. For the next year, analysts anticipate that the company will report earnings of $4.91 per share, with EPS estimates ranging from $3.74 to $5.96. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Noble Midstream Partners.

Noble Midstream Partners (NYSE:NBLX) last released its earnings results on Friday, August 3rd. The energy company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. Noble Midstream Partners had a net margin of 45.55% and a return on equity of 21.14%. The firm had revenue of $121.97 million during the quarter, compared to the consensus estimate of $114.90 million.

A number of equities research analysts recently issued reports on the stock. ValuEngine downgraded shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 16th. Barclays lowered their target price on shares of Noble Midstream Partners from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, June 12th. Citigroup boosted their target price on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Wells Fargo & Co downgraded shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Robert W. Baird set a $59.00 target price on shares of Noble Midstream Partners and gave the company a “buy” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Noble Midstream Partners has an average rating of “Buy” and an average price target of $59.00.

Noble Midstream Partners stock opened at $34.20 on Thursday. Noble Midstream Partners has a 1 year low of $33.51 and a 1 year high of $57.98. The company has a market capitalization of $1.38 billion, a P/E ratio of 8.34 and a beta of 1.51. The company has a quick ratio of 0.45, a current ratio of 0.48 and a debt-to-equity ratio of 0.45.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in Noble Midstream Partners by 31.2% during the second quarter. Bank of New York Mellon Corp now owns 6,155 shares of the energy company’s stock worth $314,000 after buying an additional 1,462 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Noble Midstream Partners by 2.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,539 shares of the energy company’s stock worth $2,989,000 after buying an additional 1,539 shares during the period. First Republic Investment Management Inc. grew its stake in Noble Midstream Partners by 17.0% during the first quarter. First Republic Investment Management Inc. now owns 14,118 shares of the energy company’s stock worth $659,000 after buying an additional 2,053 shares during the period. Baldwin Brothers Inc. MA purchased a new stake in Noble Midstream Partners during the second quarter worth approximately $105,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Noble Midstream Partners during the first quarter worth approximately $103,000. Institutional investors own 56.43% of the company’s stock.

About Noble Midstream Partners

Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. The company provides crude oil, natural gas, and water-related midstream services. The company operates in the Denver-Julesburg Basin in Colorado and the Delaware Basin in Texas. The company was founded in 2014 and is based in Houston, Texas.

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