Research Analysts Issue Forecasts for Noble Midstream Partners LP’s Q4 2017 Earnings (NBLX)
Noble Midstream Partners LP (NYSE:NBLX) – Stock analysts at Seaport Global Securities issued their Q4 2017 earnings per share estimates for shares of Noble Midstream Partners in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst B. Colson anticipates that the energy company will earn $1.09 per share for the quarter. Seaport Global Securities currently has a “Buy” rating and a $60.00 target price on the stock.
Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings data on Monday, October 30th. The energy company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.10. The company had revenue of $63.11 million for the quarter, compared to analyst estimates of $60.29 million. Noble Midstream Partners had a return on equity of 36.74% and a net margin of 55.83%.
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Several other equities analysts have also commented on NBLX. ValuEngine raised Noble Midstream Partners from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Robert W. Baird reaffirmed a “buy” rating and issued a $57.00 price target on shares of Noble Midstream Partners in a research note on Thursday, August 31st. Zacks Investment Research raised Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Wednesday, October 18th. BidaskClub lowered Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Mizuho set a $53.00 price target on Noble Midstream Partners and gave the company a “hold” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $52.50.
Noble Midstream Partners (NYSE NBLX) opened at $52.04 on Friday. The firm has a market capitalization of $1,860.00 and a price-to-earnings ratio of 13.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.40 and a current ratio of 0.40. Noble Midstream Partners has a 12 month low of $31.54 and a 12 month high of $56.33.
A number of institutional investors and hedge funds have recently bought and sold shares of NBLX. FMR LLC lifted its stake in Noble Midstream Partners by 58.0% during the 2nd quarter. FMR LLC now owns 2,162,276 shares of the energy company’s stock worth $95,648,000 after acquiring an additional 794,168 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Noble Midstream Partners by 34.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,945,365 shares of the energy company’s stock worth $130,760,000 after acquiring an additional 754,345 shares in the last quarter. HITE Hedge Asset Management LLC lifted its stake in Noble Midstream Partners by 103.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,090,730 shares of the energy company’s stock worth $56,576,000 after acquiring an additional 555,000 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Noble Midstream Partners by 41.9% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,875,518 shares of the energy company’s stock worth $82,281,000 after acquiring an additional 553,618 shares in the last quarter. Finally, Harvest Fund Advisors LLC lifted its stake in Noble Midstream Partners by 31.8% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,754,116 shares of the energy company’s stock worth $90,986,000 after acquiring an additional 422,734 shares in the last quarter. 83.92% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Thomas W. Christensen sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $54.00, for a total value of $81,000.00. Following the transaction, the insider now owns 2,868 shares of the company’s stock, valued at approximately $154,872. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were paid a $0.467 dividend. This represents a $1.87 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Friday, November 3rd. This is a positive change from Noble Midstream Partners’s previous quarterly dividend of $0.45. Noble Midstream Partners’s dividend payout ratio is 46.63%.
About Noble Midstream Partners
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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