Zacks: Brokerages Anticipate Noble Midstream Partners LP (NBLX) Will Post Quarterly Sales of $153.80 Million

Analysts expect Noble Midstream Partners LP (NYSE:NBLX) to announce sales of $153.80 million for the current quarter, according to Zacks. Two analysts have provided estimates for Noble Midstream Partners’ earnings, with estimates ranging from $141.30 million to $166.30 million. Noble Midstream Partners reported sales of $68.07 million in the same quarter last year, which indicates a positive year-over-year growth rate of 125.9%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Noble Midstream Partners will report full-year sales of $512.40 million for the current fiscal year, with estimates ranging from $500.20 million to $533.00 million. For the next financial year, analysts anticipate that the company will report sales of $656.43 million, with estimates ranging from $603.70 million to $717.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Noble Midstream Partners.

Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings results on Thursday, November 1st. The energy company reported $1.09 earnings per share 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 business had revenue of $139.16 million during the quarter, compared to the consensus estimate of $119.25 million.

A number of equities research analysts have recently weighed in on NBLX shares. Credit Suisse Group boosted their price target on Noble Midstream Partners from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, November 8th. Bank of America lowered their price target on Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating for the company in a report on Monday, October 1st. Zacks Investment Research downgraded Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Barclays lowered their price target on Noble Midstream Partners from $59.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, October 12th. Finally, ValuEngine downgraded Noble Midstream Partners from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Noble Midstream Partners presently has an average rating of “Buy” and a consensus target price of $56.00.

Shares of NYSE NBLX opened at $33.13 on Friday. Noble Midstream Partners has a twelve month low of $32.10 and a twelve month 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 company has a market capitalization of $1.36 billion, a PE ratio of 8.08, a PEG ratio of 0.58 and a beta of 1.28.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Monday, November 5th were paid a dividend of $0.5597 per share. This is an increase 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 6.76%. The ex-dividend date of this dividend was Friday, November 2nd. Noble Midstream Partners’s dividend payout ratio is presently 54.63%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Putnam Investments LLC bought a new position in Noble Midstream Partners during the 2nd quarter worth $1,639,000. Wells Fargo & Company MN grew its stake in Noble Midstream Partners by 4.7% during the 2nd quarter. Wells Fargo & Company MN now owns 361,180 shares of the energy company’s stock worth $18,442,000 after buying an additional 16,072 shares during the last quarter. Morgan Stanley grew its stake in Noble Midstream Partners by 24.9% during the 2nd quarter. Morgan Stanley now owns 707,259 shares of the energy company’s stock worth $36,112,000 after buying an additional 141,108 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Noble Midstream Partners during the 3rd quarter worth $1,593,000. Finally, Tortoise Index Solutions LLC grew its stake in Noble Midstream Partners by 57.1% during the 3rd quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after buying an additional 1,361 shares during the last quarter. Hedge funds and other institutional investors own 55.02% of the company’s stock.

Noble Midstream Partners Company Profile

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.

See Also: How are institutional investors different from individual investors?

Get a free copy of the Zacks research report on Noble Midstream Partners (NBLX)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit