Zacks: Analysts Expect Noble Midstream Partners LP (NBLX) Will Announce Earnings of $1.07 Per Share

Brokerages predict that Noble Midstream Partners LP (NYSE:NBLX) will post earnings per share (EPS) of $1.07 for the current quarter, according to Zacks. Two analysts have made estimates for Noble Midstream Partners’ earnings. The lowest EPS estimate is $0.88 and the highest is $1.27. Noble Midstream Partners reported earnings of $1.16 per share during the same quarter last year, which indicates a negative year over year growth rate of 7.8%. The company is scheduled to issue its next earnings results on Tuesday, February 19th.

On average, analysts expect that Noble Midstream Partners will report full year earnings of $3.99 per share for the current year, with EPS estimates ranging from $3.84 to $4.23. For the next year, analysts expect that the business will post earnings of $4.86 per share, with EPS estimates ranging from $3.82 to $5.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Noble Midstream Partners.

Noble Midstream Partners (NYSE:NBLX) last posted its earnings results on Thursday, November 1st. The energy company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $139.16 million during the quarter, compared to the consensus estimate of $119.25 million. Noble Midstream Partners had a net margin of 38.18% and a return on equity of 15.89%.

A number of research firms recently issued reports on NBLX. Credit Suisse Group began coverage on shares of Noble Midstream Partners in a research report on Thursday, October 11th. They set an “outperform” rating and a $47.00 target price for the company. Citigroup boosted their target price on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Wells Fargo & Co downgraded shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. ValuEngine downgraded shares of Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 28th. Finally, Bank of America decreased their target price on shares of Noble Midstream Partners from $59.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, October 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Noble Midstream Partners presently has a consensus rating of “Buy” and an average target price of $57.50.

NYSE NBLX opened at $38.11 on Wednesday. The firm has a market cap of $1.66 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.28. Noble Midstream Partners has a 1 year low of $33.17 and a 1 year high of $57.98. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Monday, November 5th will be given a dividend of $0.5597 per share. The ex-dividend date of this dividend is Friday, November 2nd. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 5.87%. Noble Midstream Partners’s payout ratio is currently 54.63%.

Several institutional investors have recently modified their holdings of the business. Tortoise Index Solutions LLC raised its position in shares of Noble Midstream Partners by 57.1% in the third quarter. Tortoise Index Solutions LLC now owns 3,746 shares of the energy company’s stock worth $133,000 after acquiring an additional 1,361 shares during the period. Bank of New York Mellon Corp raised its position in shares of Noble Midstream Partners by 31.2% in the second 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. Raymond James Financial Services Advisors Inc. raised its position in shares of Noble Midstream Partners by 2.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,539 shares of the energy company’s stock worth $2,989,000 after acquiring an additional 1,539 shares during the period. Baldwin Brothers Inc. MA acquired a new position in shares of Noble Midstream Partners in the second quarter worth about $105,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Noble Midstream Partners in the second quarter worth about $159,000. Institutional investors and hedge funds own 56.37% of the company’s stock.

About Noble Midstream Partners

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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