According to Zacks, “Noble Midstream Partners LP is engaged in crude oil and natural gas exploration and production. Its operating area includes onshore which consists of US DJ Basin, Marcellus Shale, Eagle Ford Shale and Permian Basin as well as offshore in deepwater Gulf of Mexico, Eastern Mediterranean and West Africa. Noble Midstream Partners LP is based in Houston, United States. “
Other equities analysts have also issued research reports about the stock. TheStreet raised shares of Noble Midstream Partners from a d+ rating to a c rating in a report on Monday, March 18th. Robert W. Baird lowered shares of Noble Midstream Partners from an outperform rating to a neutral rating and reduced their target price for the company from $53.00 to $39.00 in a report on Thursday, March 7th. Wells Fargo & Co set a $40.00 target price on shares of Noble Midstream Partners and gave the company a hold rating in a report on Friday, March 8th. Finally, Rowe reduced their target price on shares of Noble Midstream Partners to $49.00 and set an overweight rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $48.89.
Shares of NYSE:NBLX opened at $32.87 on Tuesday. The firm has a market capitalization of $1.30 billion, a PE ratio of 8.30, a P/E/G ratio of 0.49 and a beta of 1.28. Noble Midstream Partners has a one year low of $26.08 and a one year high of $56.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.71 and a current ratio of 0.71.
Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings results on Friday, May 3rd. The energy company reported $1.01 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.10). The company had revenue of $147.96 million during the quarter, compared to the consensus estimate of $141.40 million. Noble Midstream Partners had a return on equity of 12.84% and a net margin of 30.14%. Research analysts expect that Noble Midstream Partners will post 4.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were given a dividend of $0.6132 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.45 annualized dividend and a yield of 7.46%. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.59. Noble Midstream Partners’s dividend payout ratio is presently 61.87%.
In other news, insider Thomas W. Christensen purchased 1,500 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was acquired at an average price of $34.00 per share, with a total value of $51,000.00. Following the transaction, the insider now directly owns 10,573 shares of the company’s stock, valued at approximately $359,482. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC purchased a new stake in Noble Midstream Partners during the 1st quarter valued at $3,032,000. SEI Investments Co purchased a new stake in Noble Midstream Partners during the 1st quarter valued at $234,000. Natixis purchased a new stake in Noble Midstream Partners during the 1st quarter valued at $2,532,000. HITE Hedge Asset Management LLC boosted its position in Noble Midstream Partners by 112.7% during the 1st quarter. HITE Hedge Asset Management LLC now owns 235,279 shares of the energy company’s stock valued at $8,472,000 after buying an additional 124,689 shares during the period. Finally, Tortoise Index Solutions LLC boosted its position in Noble Midstream Partners by 23.5% during the 1st quarter. Tortoise Index Solutions LLC now owns 9,296 shares of the energy company’s stock valued at $335,000 after buying an additional 1,770 shares during the period. 61.96% of the stock is owned by institutional investors and hedge funds.
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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