Noble Midstream Partners LP (NYSE:NBLX) Director Martin Salinas Acquires 1,750 Shares

Noble Midstream Partners LP (NYSE:NBLX) Director Martin Salinas purchased 1,750 shares of the stock in a transaction dated Friday, February 14th. The shares were bought at an average cost of $19.62 per share, for a total transaction of $34,335.00.

Shares of NBLX stock traded down $0.43 during mid-day trading on Friday, reaching $19.62. The stock had a trading volume of 458,206 shares, compared to its average volume of 374,571. The company has a market cap of $796.13 million, a P/E ratio of 4.95 and a beta of 1.35. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. Noble Midstream Partners LP has a 12-month low of $19.50 and a 12-month high of $40.30. The business has a 50-day simple moving average of $24.31 and a 200 day simple moving average of $24.46.

Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings data on Wednesday, February 12th. The energy company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.45 by $0.20. The business had revenue of $190.77 million for the quarter, compared to analyst estimates of $180.80 million. Noble Midstream Partners had a net margin of 26.19% and a return on equity of 11.62%. Research analysts anticipate that Noble Midstream Partners LP will post 3.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.6878 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.75 dividend on an annualized basis and a yield of 14.02%. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.67. Noble Midstream Partners’s payout ratio is presently 69.44%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Brookfield Public Securities Group LLC purchased a new stake in shares of Noble Midstream Partners in the fourth quarter valued at about $46,063,000. Alps Advisors Inc. grew its position in shares of Noble Midstream Partners by 54.8% in the fourth quarter. Alps Advisors Inc. now owns 4,024,280 shares of the energy company’s stock valued at $106,885,000 after purchasing an additional 1,424,978 shares during the last quarter. Kayne Anderson Capital Advisors LP purchased a new position in shares of Noble Midstream Partners during the 4th quarter worth approximately $34,507,000. FMR LLC increased its stake in shares of Noble Midstream Partners by 113.1% during the 4th quarter. FMR LLC now owns 2,101,821 shares of the energy company’s stock worth $54,227,000 after purchasing an additional 1,115,518 shares in the last quarter. Finally, Credit Suisse AG increased its stake in shares of Noble Midstream Partners by 247.4% during the 4th quarter. Credit Suisse AG now owns 326,689 shares of the energy company’s stock worth $8,677,000 after purchasing an additional 232,663 shares in the last quarter. Institutional investors own 53.02% of the company’s stock.

NBLX has been the subject of a number of research analyst reports. Robert W. Baird downgraded shares of Noble Midstream Partners from an “outperform” rating to a “neutral” rating and cut their price target for the company from $27.00 to $23.00 in a report on Thursday. Credit Suisse Group downgraded shares of Noble Midstream Partners from an “outperform” rating to a “hold” rating and decreased their price objective for the stock from $31.00 to $23.00 in a report on Monday, November 25th. Barclays lowered shares of Noble Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $29.00 target price on the stock. in a research report on Tuesday, January 14th. ValuEngine cut shares of Noble Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Zacks Investment Research downgraded shares of Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.75.

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.

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