Brokerages Expect Noble Midstream Partners LP (NBLX) Will Announce Quarterly Sales of $119.25 Million

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Wall Street analysts expect Noble Midstream Partners LP (NYSE:NBLX) to post $119.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Noble Midstream Partners’ earnings, with the highest sales estimate coming in at $147.10 million and the lowest estimate coming in at $91.40 million. Noble Midstream Partners reported sales of $63.11 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 89%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, November 1st.

On average, analysts expect that Noble Midstream Partners will report full year sales of $474.53 million for the current year, with estimates ranging from $411.60 million to $533.00 million. For the next financial year, analysts forecast that the company will post sales of $585.43 million, with estimates ranging from $423.70 million to $717.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Noble Midstream Partners.

Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings data on Friday, August 3rd. The energy company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. Noble Midstream Partners had a net margin of 45.55% and a return on equity of 21.14%. The company had revenue of $121.97 million during the quarter, compared to analyst estimates of $114.90 million.

NBLX has been the subject of a number of recent analyst reports. Wells Fargo & Co lowered shares of Noble Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, September 24th. Citigroup raised their price target on shares of Noble Midstream Partners from $56.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Robert W. Baird set a $59.00 price target on shares of Noble Midstream Partners and gave the company a “buy” rating in a report on Friday, August 10th. ValuEngine lowered shares of Noble Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 28th. Finally, Barclays lowered their price target on shares of Noble Midstream Partners from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.89.

Shares of Noble Midstream Partners stock traded up $0.98 during trading hours on Friday, hitting $40.36. The company’s stock had a trading volume of 238,696 shares, compared to its average volume of 163,322. Noble Midstream Partners has a 1-year low of $33.51 and a 1-year high of $57.98. The firm has a market capitalization of $1.40 billion, a P/E ratio of 9.84, a PEG ratio of 0.57 and a beta of 1.71. The company has a quick ratio of 0.45, a current ratio of 0.48 and a debt-to-equity ratio of 0.45.

A number of hedge funds have recently made changes to their positions in NBLX. Wells Fargo & Company MN grew its holdings in Noble Midstream Partners by 3,128.6% during the 1st quarter. Wells Fargo & Company MN now owns 345,108 shares of the energy company’s stock worth $16,092,000 after acquiring an additional 334,419 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Noble Midstream Partners during the 1st quarter worth $252,000. Stratos Wealth Partners LTD. acquired a new position in Noble Midstream Partners during the 1st quarter worth $103,000. JPMorgan Chase & Co. grew its holdings in Noble Midstream Partners by 17.2% during the 1st quarter. JPMorgan Chase & Co. now owns 527,932 shares of the energy company’s stock worth $24,618,000 after acquiring an additional 77,306 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in Noble Midstream Partners by 17.0% during the 1st quarter. First Republic Investment Management Inc. now owns 14,118 shares of the energy company’s stock worth $659,000 after acquiring an additional 2,053 shares in the last quarter. 56.43% of the stock is owned by institutional investors.

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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