Noble Midstream Partners (NBLX) Reaches New 1-Year Low at $41.76

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Noble Midstream Partners LP (NYSE:NBLX) shares reached a new 52-week low during trading on Thursday . The company traded as low as $41.76 and last traded at $41.90, with a volume of 1901 shares. The stock had previously closed at $43.62.

A number of research analysts have recently commented on the stock. Barclays cut their price target on shares of Noble Midstream Partners from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Tuesday, June 12th. Citigroup upped their price target on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. ValuEngine cut shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 16th. Finally, Robert W. Baird set a $59.00 price target on shares of Noble Midstream Partners and gave the stock a “buy” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $59.00.

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.45 and a current ratio of 0.48. The firm has a market capitalization of $1.74 billion, a PE ratio of 10.55 and a beta of 1.51.

Noble Midstream Partners (NYSE:NBLX) last issued its earnings results on Friday, August 3rd. The energy company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The company had revenue of $121.97 million for the quarter, compared to analysts’ expectations of $114.90 million. Noble Midstream Partners had a net margin of 45.55% and a return on equity of 21.14%. equities analysts expect that Noble Midstream Partners LP will post 3.99 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 13th. Shareholders of record on Monday, August 6th were given a dividend of $0.5348 per share. This represents a $2.14 annualized dividend and a dividend yield of 5.15%. This is a positive change from Noble Midstream Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 3rd. Noble Midstream Partners’s dividend payout ratio is presently 52.20%.

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted 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 valued at $314,000 after buying an additional 1,462 shares during the last quarter. Putnam Investments LLC purchased a new stake in shares of Noble Midstream Partners during the second quarter valued at about $1,639,000. Tower Research Capital LLC TRC purchased a new stake in shares of Noble Midstream Partners during the second quarter valued at about $159,000. Morgan Stanley lifted its position in shares of Noble Midstream Partners by 24.9% during the second quarter. Morgan Stanley now owns 707,259 shares of the energy company’s stock valued at $36,112,000 after buying an additional 141,108 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Noble Midstream Partners during the second quarter valued at about $2,206,000. 56.43% of the stock is owned by institutional investors and hedge funds.

Noble Midstream Partners Company Profile (NYSE:NBLX)

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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