Wall Street brokerages forecast that Noble Midstream Partners LP (NYSE:NBLX) will report sales of $180.80 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Noble Midstream Partners’ earnings, with estimates ranging from $178.10 million to $183.50 million. Noble Midstream Partners posted sales of $136.65 million in the same quarter last year, which suggests a positive year over year growth rate of 32.3%. The business is scheduled to announce its next earnings results before the market opens on Wednesday, February 12th.
According to Zacks, analysts expect that Noble Midstream Partners will report full year sales of $656.35 million for the current fiscal year, with estimates ranging from $653.60 million to $659.10 million. For the next year, analysts anticipate that the business will report sales of $864.40 million, with estimates ranging from $829.80 million to $899.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover 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 for the quarter, missing the consensus estimate of $0.92 by ($0.04). Noble Midstream Partners had a return on equity of 11.62% and a net margin of 26.19%. The business had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $170.05 million.
A number of research firms have recently weighed in on NBLX. Credit Suisse Group lowered shares of Noble Midstream Partners from an “outperform” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $23.00 in a research note on Monday, November 25th. Robert W. Baird upgraded shares of Noble Midstream Partners from a “neutral” rating to an “outperform” rating and raised their price target for the company from $26.00 to $29.00 in a research report on Tuesday, December 3rd. Barclays lowered shares of Noble Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $29.00 price target on the stock. in a research report on Tuesday, January 14th. ValuEngine lowered shares of Noble Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Zacks Investment Research lowered shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $32.58.
In related news, CEO Brent J. Smolik acquired 5,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $21.50 per share, with a total value of $107,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,000 shares in the company, valued at approximately $107,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andy Viens acquired 1,500 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $21.79 per share, for a total transaction of $32,685.00. Following the completion of the acquisition, the director now owns 11,291 shares of the company’s stock, valued at $246,030.89. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 7,500 shares of company stock worth $161,735.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. increased its stake in Noble Midstream Partners by 37.0% in the 3rd quarter. Alps Advisors Inc. now owns 2,599,302 shares of the energy company’s stock valued at $62,695,000 after buying an additional 701,574 shares during the period. Invesco Ltd. acquired a new position in shares of Noble Midstream Partners during the 2nd quarter worth $16,357,000. Morgan Stanley grew its stake in shares of Noble Midstream Partners by 53.0% during the 2nd quarter. Morgan Stanley now owns 406,525 shares of the energy company’s stock worth $13,521,000 after purchasing an additional 140,751 shares during the period. UBS Group AG grew its stake in shares of Noble Midstream Partners by 26.8% during the 2nd quarter. UBS Group AG now owns 621,363 shares of the energy company’s stock worth $20,667,000 after purchasing an additional 131,460 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Noble Midstream Partners by 12.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,166,691 shares of the energy company’s stock worth $28,141,000 after purchasing an additional 131,208 shares during the period. 53.02% of the stock is currently owned by institutional investors and hedge funds.
Noble Midstream Partners stock traded down $1.10 during mid-day trading on Friday, reaching $24.64. 282,922 shares of the company traded hands, compared to its average volume of 356,286. 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 fifty-two week low of $20.30 and a fifty-two week high of $40.30. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 6.22 and a beta of 1.35. The firm’s fifty day moving average is $25.38 and its two-hundred day moving average is $25.70.
About Noble Midstream Partners
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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