Noble Midstream Partners LP (NYSE:NBLX) Position Cut by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lowered its stake in Noble Midstream Partners LP (NYSE:NBLX) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,363 shares of the energy company’s stock after selling 894 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.15% of Noble Midstream Partners worth $1,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of Noble Midstream Partners by 12.5% in the first quarter. Bank of Montreal Can now owns 67,500 shares of the energy company’s stock valued at $3,515,000 after buying an additional 7,500 shares during the period. Spirit of America Management Corp NY boosted its position in shares of Noble Midstream Partners by 234.1% in the first quarter. Spirit of America Management Corp NY now owns 254,830 shares of the energy company’s stock valued at $13,272,000 after buying an additional 178,564 shares during the period. Diversified Trust Co bought a new position in shares of Noble Midstream Partners during the first quarter valued at approximately $278,000. Taylor Wealth Management Partners boosted its position 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 valued at $102,000 after buying an additional 950 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Noble Midstream Partners by 1,457.3% in the first quarter. Acadian Asset Management LLC now owns 60,268 shares of the energy company’s stock valued at $3,139,000 after buying an additional 56,398 shares during the period. 78.55% of the stock is owned by institutional investors.

Noble Midstream Partners LP (NYSE NBLX) opened at 43.97 on Thursday. The stock has a 50 day moving average price of $44.81 and a 200 day moving average price of $47.13. The company has a market cap of $1.58 billion and a price-to-earnings ratio of 24.87. Noble Midstream Partners LP has a 52 week low of $26.00 and a 52 week high of $53.29.

Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.98 earnings per share for the quarter, topping the 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 analysts forecast that Noble Midstream Partners LP will post $3.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a $0.4457 dividend. This represents a $1.78 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, August 3rd. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.41. Noble Midstream Partners’s dividend payout ratio is presently 67.17%.

A number of research firms have recently issued reports on NBLX. Zacks Investment Research raised Noble Midstream Partners from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, April 19th. Barclays PLC set a $55.00 price objective on Noble Midstream Partners and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Mizuho cut Noble Midstream Partners from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research report on Monday, July 10th. Finally, Scotiabank set a $50.00 price objective on Noble Midstream Partners and gave the company a “buy” rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Noble Midstream Partners presently has a consensus rating of “Buy” and an average target price of $43.45.

Noble Midstream Partners Company Profile

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).