Noble Midstream Partners (NBLX) Reaches New 12-Month Low at $31.35

Noble Midstream Partners LP (NYSE:NBLX)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $31.35 and last traded at $31.42, with a volume of 4554 shares changing hands. The stock had previously closed at $33.03.

NBLX has been the topic of several recent research reports. Robert W. Baird set a $59.00 price target on Noble Midstream Partners and gave the company a “buy” rating in a research report on Friday, August 10th. ValuEngine cut Noble Midstream Partners from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Barclays dropped their target price on Noble Midstream Partners from $64.00 to $59.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 29th. Wells Fargo & Co cut Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. Finally, Bank of America dropped their target price on Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, October 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $56.00.

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.66. The stock has a market capitalization of $1.31 billion, a PE ratio of 7.92, a P/E/G ratio of 0.56 and a beta of 1.26.

Noble Midstream Partners (NYSE:NBLX) last released its earnings results on Thursday, November 1st. The energy company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.09. Noble Midstream Partners had a return on equity of 15.89% and a net margin of 38.18%. The company had revenue of $139.16 million for the quarter, compared to analysts’ expectations of $119.25 million. On average, research analysts expect that Noble Midstream Partners LP will post 4.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Monday, November 5th were given a dividend of $0.5597 per share. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 2nd. This represents a $2.24 annualized dividend and a yield of 6.89%. Noble Midstream Partners’s payout ratio is presently 54.63%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBLX. Tortoise Index Solutions LLC increased its position in Noble Midstream Partners by 57.1% during the 3rd quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after purchasing an additional 1,361 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter worth approximately $159,000. Summit Trail Advisors LLC acquired a new stake in shares of Noble Midstream Partners in the 2nd quarter worth approximately $211,000. Marshall Wace LLP acquired a new stake in shares of Noble Midstream Partners in the 3rd quarter worth approximately $292,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Noble Midstream Partners by 31.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,155 shares of the energy company’s stock worth $314,000 after acquiring an additional 1,462 shares during the period. Institutional investors own 56.63% of the company’s stock.

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About Noble Midstream Partners (NYSE:NBLX)

Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. The company provides crude oil, natural gas, and water-related midstream services. The company operates in the Denver-Julesburg Basin in Colorado and the Delaware Basin in Texas. The company was founded in 2014 and is based in Houston, Texas.

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