Noble Midstream Partners LP Expected to Post Q1 2020 Earnings of $0.91 Per Share (NYSE:NBLX)

Noble Midstream Partners LP (NYSE:NBLX) – Investment analysts at Piper Jaffray Companies dropped their Q1 2020 EPS estimates for Noble Midstream Partners in a research note issued to investors on Wednesday, November 13th. Piper Jaffray Companies analyst P. Hammond now expects that the energy company will post earnings of $0.91 per share for the quarter, down from their previous estimate of $1.03. Piper Jaffray Companies also issued estimates for Noble Midstream Partners’ Q2 2020 earnings at $0.87 EPS, Q3 2020 earnings at $0.88 EPS, Q4 2020 earnings at $0.84 EPS, FY2020 earnings at $3.50 EPS and FY2021 earnings at $3.85 EPS.

Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings data on Thursday, November 7th. The energy company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.04). Noble Midstream Partners had a net margin of 26.19% and a return on equity of 11.62%. The company had revenue of $169.32 million for the quarter, compared to the consensus estimate of $170.05 million.

Several other research analysts also recently commented on NBLX. Zacks Investment Research downgraded shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday. Barclays set a $30.00 price target on shares of Noble Midstream Partners and gave the company a “buy” rating in a report on Tuesday, October 15th. Credit Suisse Group lowered their price target on shares of Noble Midstream Partners from $40.00 to $31.00 and set an “outperform” rating for the company in a report on Friday. Noble Financial assumed coverage on shares of Noble Midstream Partners in a report on Tuesday, September 3rd. They issued a “sector perform” rating and a $29.00 price target for the company. Finally, Bank of America lowered their price target on shares of Noble Midstream Partners from $42.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Noble Midstream Partners presently has an average rating of “Hold” and an average price target of $35.58.

NBLX opened at $21.76 on Monday. The firm has a 50-day simple moving average of $23.94 and a two-hundred day simple moving average of $28.38. Noble Midstream Partners has a 52 week low of $21.50 and a 52 week high of $40.30. The company has a market capitalization of $885.07 million, a PE ratio of 5.49, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.66.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 11th. Investors of record on Monday, November 4th were issued a $0.6716 dividend. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.69 dividend on an annualized basis and a dividend yield of 12.35%. Noble Midstream Partners’s dividend payout ratio (DPR) is presently 67.93%.

Large investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in Noble Midstream Partners by 200.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 900 shares of the energy company’s stock worth $30,000 after purchasing an additional 600 shares during the last quarter. Van ECK Associates Corp lifted its stake in Noble Midstream Partners by 3.2% in the second quarter. Van ECK Associates Corp now owns 20,747 shares of the energy company’s stock worth $690,000 after purchasing an additional 653 shares during the last quarter. Northern Oak Wealth Management Inc. bought a new stake in Noble Midstream Partners in the second quarter worth about $26,000. First Republic Investment Management Inc. lifted its stake in Noble Midstream Partners by 4.1% in the second quarter. First Republic Investment Management Inc. now owns 20,093 shares of the energy company’s stock worth $668,000 after purchasing an additional 783 shares during the last quarter. Finally, Cutler Group LP lifted its stake in Noble Midstream Partners by 100.0% in the third quarter. Cutler Group LP now owns 1,800 shares of the energy company’s stock worth $43,000 after purchasing an additional 900 shares during the last quarter. 56.34% of the stock is 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 and Estimates for Noble Midstream Partners (NYSE:NBLX)

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