Zacks Investment Research lowered shares of Noble Midstream Partners LP (NYSE:NBLX) from a hold rating to a sell rating in a research note released on Wednesday, July 19th.
According to Zacks, “Noble Midstream Partners LP is engaged in crude oil and natural gas exploration and production. Its operating area includes onshore which consists of US DJ Basin, Marcellus Shale, Eagle Ford Shale and Permian Basin as well as offshore in deepwater Gulf of Mexico, Eastern Mediterranean and West Africa. Noble Midstream Partners LP is based in Houston, United States. “
Other analysts have also recently issued research reports about the stock. Scotiabank set a $50.00 target price on shares of Noble Midstream Partners and gave the stock a buy rating in a research note on Thursday, June 22nd. Barclays PLC set a $55.00 target price on shares of Noble Midstream Partners and gave the stock a buy rating in a research note on Tuesday, May 2nd. Johnson Rice assumed coverage on shares of Noble Midstream Partners in a research note on Friday, March 24th. They issued a buy rating for the company. Finally, Mizuho downgraded shares of Noble Midstream Partners from a buy rating to a neutral rating and set a $51.00 price target for the company. in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $43.45.
Shares of Noble Midstream Partners (NBLX) traded up 1.14% during mid-day trading on Wednesday, hitting $44.25. The stock had a trading volume of 7,062 shares. The stock has a market cap of $1.41 billion and a P/E ratio of 28.46. Noble Midstream Partners has a 52-week low of $26.00 and a 52-week high of $53.29. The company’s 50 day moving average is $45.58 and its 200-day moving average is $47.13.
Noble Midstream Partners (NYSE:NBLX) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.23. Noble Midstream Partners had a net margin of 50.57% and a return on equity of 31.64%. The firm had revenue of $57.78 million during the quarter, compared to analysts’ expectations of $45.20 million. On average, equities research analysts anticipate that Noble Midstream Partners will post $3.51 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a dividend of $0.4457 per share. This represents a $1.78 dividend on an annualized basis and a yield of 4.07%. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, August 3rd. Noble Midstream Partners’s payout ratio is 67.17%.
Several hedge funds have recently modified their holdings of the company. Taylor Wealth Management Partners raised its stake in shares of Noble Midstream Partners by 95.0% in the first quarter. Taylor Wealth Management Partners now owns 1,950 shares of the energy company’s stock worth $102,000 after buying an additional 950 shares during the period. Global X Management Co. LLC bought a new stake in shares of Noble Midstream Partners during the second quarter worth about $198,000. JPMorgan Chase & Co. raised its stake in Noble Midstream Partners by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 4,129 shares of the energy company’s stock valued at $215,000 after buying an additional 125 shares during the last quarter. Diversified Trust Co raised its stake in Noble Midstream Partners by 1.7% in the second quarter. Diversified Trust Co now owns 5,417 shares of the energy company’s stock valued at $246,000 after buying an additional 88 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Noble Midstream Partners by 2,540.5% in the first quarter. Tower Research Capital LLC TRC now owns 5,149 shares of the energy company’s stock valued at $268,000 after buying an additional 4,954 shares during the last quarter. Institutional investors and hedge funds own 97.88% of the company’s stock.
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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