Noble Midstream Partners (NYSE:NBLX) posted its quarterly earnings data on Thursday. The energy company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09, MarketWatch Earnings reports. Noble Midstream Partners had a return on equity of 21.14% and a net margin of 45.55%. The company had revenue of $139.16 million for the quarter, compared to analyst estimates of $119.25 million. Noble Midstream Partners updated its guidance to EPS.
Shares of NYSE:NBLX traded up $0.06 during trading on Friday, reaching $33.92. 16,257 shares of the stock were exchanged, compared to its average volume of 207,562. The company has a quick ratio of 0.45, a current ratio of 0.48 and a debt-to-equity ratio of 0.45. Noble Midstream Partners has a 1-year low of $33.17 and a 1-year high of $57.98. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.55 and a beta of 1.68.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Monday, November 5th will be paid a $0.5597 dividend. The ex-dividend date is Friday, November 2nd. This is a positive change from Noble Midstream Partners’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 6.60%. Noble Midstream Partners’s payout ratio is 52.20%.
Large investors have recently modified their holdings of the company. Baldwin Brothers Inc. MA acquired a new position in shares of Noble Midstream Partners during the second quarter worth approximately $105,000. Tower Research Capital LLC TRC acquired a new position in shares of Noble Midstream Partners during the second quarter worth approximately $159,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Noble Midstream Partners during the second quarter worth approximately $204,000. Summit Trail Advisors LLC acquired a new position in shares of Noble Midstream Partners during the second quarter worth approximately $211,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 1,462 shares during the period. 56.45% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on NBLX. Credit Suisse Group began coverage on Noble Midstream Partners in a research note on Thursday, October 11th. They issued an “outperform” rating and a $47.00 price target on the stock. Citigroup boosted their price target on Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Wells Fargo & Co lowered Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. ValuEngine lowered Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 28th. Finally, Bank of America dropped their price target on Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, October 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $55.29.
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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