Zacks: Analysts Anticipate Noble Midstream Partners LP (NYSE:NBLX) to Announce $0.45 EPS

Wall Street analysts expect Noble Midstream Partners LP (NYSE:NBLX) to announce earnings of $0.45 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Noble Midstream Partners’ earnings, with estimates ranging from $0.35 to $0.55. Noble Midstream Partners posted earnings per share of $1.00 during the same quarter last year, which would indicate a negative year-over-year growth rate of 55%. The business is expected to report its next earnings results before the market opens on Wednesday, February 12th.

On average, analysts expect that Noble Midstream Partners will report full year earnings of $3.13 per share for the current fiscal year, with EPS estimates ranging from $3.02 to $3.24. For the next financial year, analysts forecast that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $2.03 to $2.20. Zacks’ EPS averages are an average based on a survey of research analysts that follow Noble Midstream Partners.

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

A number of equities analysts recently commented on the company. Robert W. Baird upgraded Noble Midstream Partners from a “neutral” rating to an “outperform” rating and upped their target price for the company from $26.00 to $29.00 in a report on Tuesday, December 3rd. Zacks Investment Research lowered shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. ValuEngine downgraded shares of Noble Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Barclays downgraded Noble Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $29.00 target price on the stock. in a report on Tuesday. Finally, Credit Suisse Group lowered Noble Midstream Partners from an “outperform” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $23.00 in a research report on Monday, November 25th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Noble Midstream Partners presently has an average rating of “Hold” and an average price target of $33.27.

NYSE NBLX traded up $0.10 during trading on Thursday, hitting $26.42. 96,818 shares of the company’s stock traded hands, compared to its average volume of 390,721. The stock has a fifty day moving average of $24.81 and a two-hundred day moving average of $25.93. Noble Midstream Partners has a 12-month low of $20.30 and a 12-month high of $40.30. The firm has a market cap of $1.05 billion, a P/E ratio of 6.67 and a beta of 1.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77.

In related news, Director Andy Viens bought 1,500 shares of the company’s stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $21.79 per share, with a total value of $32,685.00. Following the completion of the acquisition, the director now owns 11,291 shares of the company’s stock, valued at approximately $246,030.89. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brent J. Smolik bought 5,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,000 shares of the company’s stock, valued at approximately $107,500. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 7,500 shares of company stock worth $161,735.

Institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its holdings in Noble Midstream Partners by 37.0% in the third quarter. Alps Advisors Inc. now owns 2,599,302 shares of the energy company’s stock worth $62,695,000 after buying an additional 701,574 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Noble Midstream Partners by 2.0% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,352,968 shares of the energy company’s stock worth $86,576,000 after purchasing an additional 47,204 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Noble Midstream Partners by 12.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,166,691 shares of the energy company’s stock worth $28,141,000 after purchasing an additional 131,208 shares in the last quarter. UBS Group AG increased its holdings in shares of Noble Midstream Partners by 26.8% in the 2nd quarter. UBS Group AG now owns 621,363 shares of the energy company’s stock worth $20,667,000 after purchasing an additional 131,460 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Noble Midstream Partners in the second quarter worth $16,357,000. 53.02% 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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