Jennison Associates LLC Reduces Position in Noble Midstream Partners LP (NBLX)

Jennison Associates LLC decreased its position in shares of Noble Midstream Partners LP (NYSE:NBLX) by 25.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,960 shares of the energy company’s stock after selling 104,494 shares during the period. Jennison Associates LLC owned 1.91% of Noble Midstream Partners worth $13,800,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of NBLX. Bank of Montreal Can raised 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 worth $3,515,000 after buying an additional 7,500 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Noble Midstream Partners during the first quarter worth about $349,000. Diversified Trust Co raised its position in shares of Noble Midstream Partners by 1.7% in the second quarter. Diversified Trust Co now owns 5,417 shares of the energy company’s stock worth $246,000 after buying an additional 88 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Noble Midstream Partners during the first quarter worth about $703,000. Finally, Acadian Asset Management LLC raised 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 worth $3,139,000 after buying an additional 56,398 shares during the last quarter. 78.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Noble Midstream Partners LP (NYSE NBLX) opened at 45.68 on Friday. The firm has a market cap of $1.64 billion and a P/E ratio of 25.84. The stock’s 50 day moving average price is $44.60 and its 200-day moving average price is $47.10. Noble Midstream Partners LP has a 12 month low of $26.00 and a 12 month high of $53.29.

Noble Midstream Partners (NYSE:NBLX) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $57.78 million during the quarter, compared to analysts’ expectations of $45.20 million. Equities research analysts anticipate that Noble Midstream Partners LP will post $3.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.4457 per share. 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. This represents a $1.78 annualized dividend and a dividend yield of 3.90%. Noble Midstream Partners’s dividend payout ratio is 67.17%.

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NBLX has been the subject of a number of recent research reports. Scotiabank set a $50.00 price objective on Noble Midstream Partners and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Noble Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 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. Finally, Mizuho downgraded 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target 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).

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