Equities analysts predict that Noble Midstream Partners LP (NYSE:NBLX) will announce $1.07 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Noble Midstream Partners’ earnings, with estimates ranging from $0.88 to $1.27. Noble Midstream Partners posted earnings of $1.16 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 7.8%. The company is scheduled to announce its next earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that Noble Midstream Partners will report full-year earnings of $3.99 per share for the current fiscal year, with EPS estimates ranging from $3.84 to $4.23. For the next year, analysts expect that the business will post earnings of $4.86 per share, with EPS estimates ranging from $3.82 to $5.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Noble Midstream Partners.
Noble Midstream Partners (NYSE:NBLX) last posted its earnings results on Thursday, November 1st. The energy company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. Noble Midstream Partners had a return on equity of 15.89% and a net margin of 38.18%. The firm had revenue of $139.16 million for the quarter, compared to analysts’ expectations of $119.25 million.
A number of equities research analysts have recently commented on NBLX shares. ValuEngine cut Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 28th. Barclays dropped their target price on Noble Midstream Partners from $59.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday, October 12th. Wells Fargo & Co cut Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. Bank of America dropped their target price on Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, October 1st. Finally, Credit Suisse Group started coverage on Noble Midstream Partners in a research report on Thursday, October 11th. They set an “outperform” rating and a $47.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Noble Midstream Partners currently has a consensus rating of “Buy” and an average price target of $56.63.
Shares of NYSE:NBLX traded up $6.16 during trading on Wednesday, reaching $41.76. 895,457 shares of the company’s stock traded hands, compared to its average volume of 172,765. Noble Midstream Partners has a fifty-two week low of $33.17 and a fifty-two week high of $57.98. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.35 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.61 and a beta of 1.28.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Investors 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 dividend on an annualized basis and a yield of 5.36%. Noble Midstream Partners’s dividend payout ratio (DPR) is currently 54.63%.
A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Noble Midstream Partners by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,260 shares of the energy company’s stock valued at $16,333,000 after buying an additional 21,938 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in Noble Midstream Partners in the 3rd quarter valued at about $1,593,000. SG Americas Securities LLC purchased a new position in Noble Midstream Partners in the 3rd quarter valued at about $2,191,000. Cannell Peter B & Co. Inc. lifted its stake in Noble Midstream Partners by 8.7% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 942,075 shares of the energy company’s stock valued at $33,359,000 after buying an additional 75,490 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Noble Midstream Partners by 2.2% in the 3rd quarter. Wells Fargo & Company MN now owns 369,157 shares of the energy company’s stock valued at $13,073,000 after buying an additional 7,977 shares in the last quarter. 56.37% of the stock is currently owned by hedge funds and other institutional investors.
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.
Recommended Story: Outstanding Shares and The Effect on Share Price
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Noble Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.