Noble Midstream Partners (NYSE:NBLX) Announces Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Noble Midstream Partners (NYSE:NBLX) released its earnings results on Wednesday. The energy company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.20, Fidelity Earnings reports. Noble Midstream Partners had a return on equity of 11.62% and a net margin of 26.19%. The firm had revenue of $190.77 million during the quarter, compared to analysts’ expectations of $180.80 million.

Shares of NBLX stock traded down $0.52 during trading hours on Friday, hitting $19.53. 6,480 shares of the company’s stock were exchanged, compared to its average volume of 371,702. The company has a market capitalization of $796.13 million, a PE ratio of 4.96 and a beta of 1.35. Noble Midstream Partners has a 12-month low of $20.00 and a 12-month high of $40.30. The business’s 50 day simple moving average is $24.49 and its 200-day simple moving average is $24.52. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be paid a dividend of $0.6878 per share. The ex-dividend date is Monday, February 3rd. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.67. This represents a $2.75 annualized dividend and a dividend yield of 14.09%. Noble Midstream Partners’s dividend payout ratio (DPR) is 69.44%.

In related news, Director Andy Viens acquired 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $21.79 per share, for a total transaction of $32,685.00. Following the purchase, the director now owns 11,291 shares in the company, valued at approximately $246,030.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brent J. Smolik acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $21.50 per share, with a total value of $107,500.00. Following the completion of the purchase, the chief executive officer now owns 5,000 shares in the company, valued at approximately $107,500. The disclosure for this purchase can be found here. Insiders have acquired 7,500 shares of company stock worth $161,735 over the last three months.

Several research firms recently commented on NBLX. Wells Fargo & Co lowered their target price on Noble Midstream Partners from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday. Barclays downgraded Noble Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective for the company. in a research note on Tuesday, January 14th. Zacks Investment Research downgraded Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Piper Sandler dropped their price objective on Noble Midstream Partners from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Robert W. Baird downgraded Noble Midstream Partners from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $27.00 to $23.00 in a research note on Thursday. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $30.75.

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 for Noble Midstream Partners (NYSE:NBLX)

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