Noble Midstream Partners LP (NBLX) Set to Announce Earnings on Monday
Noble Midstream Partners LP (NYSE:NBLX) will be posting its quarterly earnings results after the market closes on Monday, October 30th. Analysts expect Noble Midstream Partners to post earnings of $0.93 per share for the quarter.
Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.23. Noble Midstream Partners had a return on equity of 31.64% and a net margin of 50.57%. The firm had revenue of $57.78 million for the quarter, compared to analyst estimates of $45.20 million. On average, analysts expect Noble Midstream Partners to post $3.72 EPS for the current fiscal year and $4.71 EPS for the next fiscal year.
Noble Midstream Partners LP (NYSE:NBLX) opened at 50.03 on Friday. The firm has a market capitalization of $1.80 billion and a price-to-earnings ratio of 28.30. Noble Midstream Partners LP has a 52 week low of $28.89 and a 52 week high of $56.33. The firm has a 50-day moving average price of $50.60 and a 200 day moving average price of $47.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, November 6th will be issued a $0.467 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.87 annualized dividend and a yield of 3.73%. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.45. Noble Midstream Partners’s dividend payout ratio (DPR) is 67.17%.
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In other news, insider Thomas W. Christensen sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $54.00, for a total value of $81,000.00. Following the completion of the transaction, the insider now owns 2,868 shares in the company, valued at approximately $154,872. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
An institutional investor recently bought a new position in Noble Midstream Partners stock. Northern Trust Corp bought a new stake in Noble Midstream Partners LP (NYSE:NBLX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,687 shares of the energy company’s stock, valued at approximately $213,000. Institutional investors own 84.10% of the company’s stock.
NBLX has been the subject of several research analyst reports. Scotiabank set a $50.00 price objective on Noble Midstream Partners and gave the stock a “buy” rating in a report on Thursday, August 3rd. ValuEngine upgraded Noble Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Zacks Investment Research cut Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Robert W. Baird reiterated a “buy” rating and issued a $57.00 price objective on shares of Noble Midstream Partners in a report on Thursday, August 31st. Finally, Seaport Global Securities initiated coverage on Noble Midstream Partners in a report on Tuesday, October 10th. They issued a “buy” rating and a $60.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Noble Midstream Partners presently has an average rating of “Buy” and a consensus target price of $52.25.
Noble Midstream Partners Company Profile
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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