Analysts forecast that Noble Midstream Partners LP (NYSE:NBLX) will post earnings of $0.45 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Noble Midstream Partners’ earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.35. Noble Midstream Partners posted earnings per share of $1.00 during the same quarter last year, which indicates a negative year-over-year growth rate of 55%. The firm is expected to announce its next quarterly earnings report before the market opens on Wednesday, February 12th.
According to Zacks, analysts expect that Noble Midstream Partners will report full-year earnings of $3.13 per share for the current year, with EPS estimates ranging from $3.02 to $3.24. For the next fiscal year, analysts anticipate that the business will report earnings of $1.94 per share, with EPS estimates ranging from $1.67 to $2.20. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Noble Midstream Partners.
Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.04). The firm had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $170.05 million. Noble Midstream Partners had a net margin of 26.19% and a return on equity of 11.62%.
A number of analysts have weighed in on NBLX shares. Barclays lowered Noble Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $29.00 target price for the company. in a report on Tuesday, January 14th. ValuEngine lowered Noble Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Zacks Investment Research lowered Noble Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Robert W. Baird upgraded Noble Midstream Partners from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $26.00 to $29.00 in a report on Tuesday, December 3rd. Finally, Credit Suisse Group lowered Noble Midstream Partners from an “outperform” rating to a “hold” rating and lowered their target price for the stock from $31.00 to $23.00 in a report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.58.
Noble Midstream Partners stock traded down $0.81 during mid-day trading on Thursday, reaching $23.34. 296,500 shares of the company were exchanged, compared to its average volume of 360,907. The business has a fifty day moving average of $25.52 and a 200 day moving average of $25.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $1.02 billion, a P/E ratio of 5.89 and a beta of 1.35. Noble Midstream Partners has a 12-month low of $20.30 and a 12-month high of $40.30.
In other Noble Midstream Partners news, Director Andy Viens purchased 1,500 shares of Noble Midstream Partners stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $21.79 per share, with a total value of $32,685.00. Following the completion of the transaction, the director now owns 11,291 shares in the company, valued at approximately $246,030.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brent J. Smolik purchased 5,000 shares of Noble Midstream Partners stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the transaction, the chief executive officer now owns 5,000 shares of the company’s stock, valued at approximately $107,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 7,500 shares of company stock worth $161,735.
Hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Noble Midstream Partners by 200.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 900 shares of the energy company’s stock worth $30,000 after purchasing an additional 600 shares in 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. Evoke Wealth LLC acquired a new position in shares of Noble Midstream Partners during the third quarter worth $45,000. Penserra Capital Management LLC acquired a new position in shares of Noble Midstream Partners during the third quarter worth $85,000. Finally, Atria Investments LLC acquired a new position in shares of Noble Midstream Partners during the second quarter worth $340,000. 53.02% of the stock is currently 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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