Noble Midstream Partners (NYSE:NBLX) Issues Earnings Results, Misses Estimates By $0.04 EPS

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Noble Midstream Partners (NYSE:NBLX) issued its earnings results on Thursday. The energy company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.04), Fidelity Earnings reports. The firm had revenue of $169.32 million for the quarter, compared to analyst estimates of $170.05 million. Noble Midstream Partners had a return on equity of 12.28% and a net margin of 28.24%.

NBLX stock traded down $0.21 during midday trading on Friday, reaching $22.68. 306,854 shares of the company were exchanged, compared to its average volume of 244,683. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50-day moving average price of $24.38 and a two-hundred day moving average price of $28.83. Noble Midstream Partners has a one year low of $22.16 and a one year high of $40.30. The firm has a market capitalization of $905.55 million, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 0.49 and a beta of 1.42.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Monday, November 4th will be given a dividend of $0.6716 per share. This represents a $2.69 dividend on an annualized basis and a yield of 11.84%. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Friday, November 1st. Noble Midstream Partners’s payout ratio is 67.93%.

NBLX has been the topic of a number of recent analyst reports. Barclays set a $30.00 target price on shares of Noble Midstream Partners and gave the stock a “buy” rating in a report on Tuesday, October 15th. Credit Suisse Group restated an “outperform” rating and set a $40.00 target price (down from $45.00) on shares of Noble Midstream Partners in a report on Monday, August 19th. Zacks Investment Research upgraded shares of Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, October 16th. Scotiabank initiated coverage on shares of Noble Midstream Partners in a report on Tuesday, September 3rd. They set a “sector perform” rating and a $29.00 target price on the stock. Finally, Robert W. Baird lowered their target price on shares of Noble Midstream Partners from $39.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $36.33.

About Noble Midstream Partners

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.

Further Reading: Quantitative Easing

Earnings History for Noble Midstream Partners (NYSE:NBLX)

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