Noble Midstream Partners (NYSE:NBLX) Announces Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Noble Midstream Partners (NYSE:NBLX) released its quarterly earnings data on Friday. The energy company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.10), Bloomberg Earnings reports. The business had revenue of $158.26 million during the quarter, compared to analyst estimates of $136.40 million. Noble Midstream Partners had a net margin of 30.14% and a return on equity of 12.84%.

Shares of NBLX stock traded down $1.58 during mid-day trading on Friday, reaching $26.90. 310,986 shares of the stock traded hands, compared to its average volume of 163,126. The business has a fifty day moving average price of $32.10. Noble Midstream Partners has a 1-year low of $26.08 and a 1-year high of $56.40. The stock has a market capitalization of $1.23 billion, a P/E ratio of 6.79, a price-to-earnings-growth ratio of 0.50 and a beta of 1.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.71 and a current ratio of 0.71.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.6418 per share. This represents a $2.57 dividend on an annualized basis and a dividend yield of 9.54%. The ex-dividend date of this dividend is Friday, August 2nd. Noble Midstream Partners’s payout ratio is 61.87%.

NBLX has been the topic of several research analyst reports. Zacks Investment Research lowered Noble Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 4th. Piper Jaffray Companies began coverage on Noble Midstream Partners in a research note on Wednesday, July 17th. They set a “neutral” rating and a $35.00 price target on the stock. Rowe cut their price target on Noble Midstream Partners to $49.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lowered Noble Midstream Partners from an “overweight” rating to a “neutral” rating and cut their price target for the company from $48.00 to $41.00 in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $46.91.

Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in shares of Noble Midstream Partners by 12,284.8% during the first quarter. Alps Advisors Inc. now owns 2,058,851 shares of the energy company’s stock valued at $74,139,000 after purchasing an additional 2,042,227 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Noble Midstream Partners by 10.9% during the first quarter. CIBC Private Wealth Group LLC now owns 1,306,669 shares of the energy company’s stock valued at $47,053,000 after purchasing an additional 128,430 shares in the last quarter. FMR LLC raised its position in shares of Noble Midstream Partners by 0.9% during the fourth quarter. FMR LLC now owns 1,074,863 shares of the energy company’s stock worth $30,999,000 after acquiring an additional 9,802 shares during the last quarter. Eagle Global Advisors LLC raised its position in shares of Noble Midstream Partners by 73.2% during the first quarter. Eagle Global Advisors LLC now owns 1,023,941 shares of the energy company’s stock worth $36,872,000 after acquiring an additional 432,881 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Noble Midstream Partners by 4.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 716,287 shares of the energy company’s stock worth $25,793,000 after acquiring an additional 30,608 shares during the last quarter. 56.75% of the stock is currently owned by hedge funds and other institutional investors.

Noble Midstream Partners Company Profile

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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Earnings History for Noble Midstream Partners (NYSE:NBLX)

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