Shares of Noble Midstream Partners LP (NYSE:NBLX) fell 5.4% on Friday . The company traded as low as $36.37 and last traded at $36.44. 539,574 shares traded hands during trading, an increase of 113% from the average session volume of 253,598 shares. The stock had previously closed at $38.54.
A number of research firms have weighed in on NBLX. TheStreet upgraded Noble Midstream Partners from a “d+” rating to a “c” rating in a report on Monday, March 18th. Robert W. Baird lowered Noble Midstream Partners from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $53.00 to $39.00 in a report on Thursday, March 7th. Wells Fargo & Co set a $40.00 price objective on Noble Midstream Partners and gave the company a “hold” rating in a report on Friday, March 8th. Finally, Zacks Investment Research upgraded Noble Midstream Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $50.86.
The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.53 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37.
Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings data on Tuesday, February 19th. The energy company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.05). Noble Midstream Partners had a net margin of 32.35% and a return on equity of 13.35%. The business had revenue of $136.65 million for the quarter, compared to analysts’ expectations of $141.30 million. As a group, analysts expect that Noble Midstream Partners LP will post 4.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.6132 per share. This represents a $2.45 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Noble Midstream Partners’s previous quarterly dividend of $0.59. Noble Midstream Partners’s dividend payout ratio is currently 59.09%.
In other Noble Midstream Partners news, insider Thomas W. Christensen acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was purchased at an average price of $34.00 per share, for a total transaction of $51,000.00. Following the acquisition, the insider now owns 10,573 shares in the company, valued at approximately $359,482. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of hedge funds have recently modified their holdings of NBLX. Eagle Global Advisors LLC raised its stake in Noble Midstream Partners by 277.6% in the 4th quarter. Eagle Global Advisors LLC now owns 591,060 shares of the energy company’s stock worth $17,046,000 after acquiring an additional 434,520 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Noble Midstream Partners by 17.0% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 2,603,168 shares of the energy company’s stock worth $92,178,000 after acquiring an additional 378,046 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Noble Midstream Partners by 33.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,178,239 shares of the energy company’s stock worth $33,981,000 after acquiring an additional 292,929 shares during the last quarter. Renaissance Technologies LLC raised its stake in Noble Midstream Partners by 349.3% in the 3rd quarter. Renaissance Technologies LLC now owns 187,900 shares of the energy company’s stock worth $6,654,000 after acquiring an additional 146,082 shares during the last quarter. Finally, Cohen & Steers Inc. grew its position in Noble Midstream Partners by 52.7% during the 4th quarter. Cohen & Steers Inc. now owns 305,113 shares of the energy company’s stock worth $8,799,000 after purchasing an additional 105,319 shares during the period. Institutional investors own 56.79% of the company’s stock.
Noble Midstream Partners Company Profile (NYSE:NBLX)
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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