Seaport Global Securities Comments on Noble Midstream Partners LP’s FY2018 Earnings (NBLX)
Noble Midstream Partners LP (NYSE:NBLX) – Stock analysts at Seaport Global Securities lowered their FY2018 earnings estimates for Noble Midstream Partners in a research report issued on Wednesday. Seaport Global Securities analyst B. Colson now forecasts that the energy company will post earnings of $3.87 per share for the year, down from their prior forecast of $4.66.
Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings results on Tuesday, February 20th. The energy company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Noble Midstream Partners had a net margin of 58.40% and a return on equity of 34.74%. The company had revenue of $68.07 million during the quarter, compared to the consensus estimate of $65.03 million.
Noble Midstream Partners (NYSE NBLX) traded up $1.96 during midday trading on Friday, hitting $51.68. The company’s stock had a trading volume of 70,263 shares, compared to its average volume of 118,210. Noble Midstream Partners has a 1 year low of $41.90 and a 1 year high of $57.98. The company has a market cap of $1,225.94, a price-to-earnings ratio of 12.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.75 and a quick ratio of 0.40.
A number of hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC raised its stake in Noble Midstream Partners by 22.6% during the 4th quarter. Citadel Advisors LLC now owns 6,119 shares of the energy company’s stock worth $306,000 after buying an additional 1,129 shares during the period. Wells Fargo & Company MN raised its stake in Noble Midstream Partners by 12.4% during the 2nd quarter. Wells Fargo & Company MN now owns 10,459 shares of the energy company’s stock worth $475,000 after buying an additional 1,152 shares during the period. Miller Howard Investments Inc. NY raised its stake in Noble Midstream Partners by 6.6% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 25,975 shares of the energy company’s stock worth $1,347,000 after buying an additional 1,612 shares during the period. Bank of Montreal Can raised its stake in Noble Midstream Partners by 4.0% during the 4th quarter. Bank of Montreal Can now owns 49,418 shares of the energy company’s stock worth $2,471,000 after buying an additional 1,918 shares during the period. Finally, Cushing Asset Management LP raised its stake in Noble Midstream Partners by 0.6% during the 4th quarter. Cushing Asset Management LP now owns 365,550 shares of the energy company’s stock worth $18,278,000 after buying an additional 2,156 shares during the period. 85.95% of the stock is currently owned by institutional investors and hedge funds.
In other Noble Midstream Partners news, Director Andy Viens bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $51.15 per share, for a total transaction of $102,300.00. Following the transaction, the director now directly owns 6,741 shares in the company, valued at $344,802.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were given a dividend of $0.4883 per share. This is a positive change from Noble Midstream Partners’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 2nd. This represents a $1.95 annualized dividend and a dividend yield of 3.78%. Noble Midstream Partners’s dividend payout ratio is presently 48.03%.
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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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