$159.15 Million in Sales Expected for Noble Midstream Partners LP (NYSE:NBLX) This Quarter
Brokerages expect Noble Midstream Partners LP (NYSE:NBLX) to announce sales of $159.15 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Noble Midstream Partners’ earnings, with the highest sales estimate coming in at $164.00 million and the lowest estimate coming in at $154.30 million. Noble Midstream Partners reported sales of $139.16 million in the same quarter last year, which indicates a positive year over year growth rate of 14.4%. The firm is expected to report its next earnings report on Thursday, November 7th.
On average, analysts expect that Noble Midstream Partners will report full-year sales of $632.43 million for the current financial year, with estimates ranging from $619.20 million to $645.10 million. For the next financial year, analysts forecast that the firm will post sales of $768.17 million, with estimates ranging from $724.80 million to $797.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Noble Midstream Partners.
Noble Midstream Partners (NYSE:NBLX) last posted its earnings results on Friday, August 2nd. The energy company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.10). Noble Midstream Partners had a return on equity of 12.28% and a net margin of 28.24%. The business had revenue of $158.26 million for the quarter, compared to analyst estimates of $136.40 million.
NYSE:NBLX opened at $24.97 on Friday. The firm has a market capitalization of $992.57 million, a price-to-earnings ratio of 6.31, a PEG ratio of 0.42 and a beta of 1.33. The business has a 50-day simple moving average of $31.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.75 and a quick ratio of 0.75. Noble Midstream Partners has a 12-month low of $25.37 and a 12-month high of $49.01.
The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were paid a dividend of $0.6418 per share. This represents a $2.57 annualized dividend and a yield of 10.28%. The ex-dividend date of this dividend was Friday, August 2nd. Noble Midstream Partners’s dividend payout ratio is presently 64.90%.
Several institutional investors have recently added to or reduced their stakes in the business. Northern Oak Wealth Management Inc. purchased a new stake in shares of Noble Midstream Partners in the second quarter valued at about $26,000. Icon Wealth Partners LLC bought a new stake in Noble Midstream Partners during the first quarter valued at approximately $36,000. Signaturefd LLC bought a new stake in Noble Midstream Partners during the first quarter valued at approximately $56,000. BNP Paribas Arbitrage SA bought a new stake in Noble Midstream Partners during the second quarter valued at approximately $176,000. Finally, Atria Investments LLC bought a new stake in shares of Noble Midstream Partners in the 2nd quarter worth approximately $340,000. 54.96% of the stock is currently owned by hedge funds and other institutional investors.
About Noble Midstream Partners
Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. It operates through three segments: Gathering Systems, Fresh Water Delivery, and Investments and Other. The company provides crude oil, natural gas, and water-related midstream services.
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