Noble Midstream Partners LP (NYSE:NBLX) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 358,808 shares, a decrease of 40.2% from the October 13th total of 599,768 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average daily volume of 55,688 shares, the short-interest ratio is presently 6.4 days.
A number of research firms recently issued reports on NBLX. Scotiabank set a $50.00 target price on Noble Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, August 3rd. ValuEngine raised Noble Midstream Partners from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Zacks Investment Research raised Noble Midstream Partners from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Wednesday, October 18th. Robert W. Baird reissued a “buy” rating and set a $57.00 target price on shares of Noble Midstream Partners in a research note on Thursday, August 31st. Finally, BidaskClub raised Noble Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Noble Midstream Partners presently has a consensus rating of “Buy” and a consensus target price of $52.50.
In other news, insider Thomas W. Christensen sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $54.00, for a total value of $81,000.00. Following the completion of the sale, the insider now directly owns 2,868 shares of the company’s stock, valued at approximately $154,872. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of institutional investors have recently made changes to their positions in NBLX. FMR LLC lifted its holdings in Noble Midstream Partners by 58.0% during the 2nd quarter. FMR LLC now owns 2,162,276 shares of the energy company’s stock valued at $95,648,000 after purchasing an additional 794,168 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in Noble Midstream Partners by 34.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,945,365 shares of the energy company’s stock valued at $130,760,000 after purchasing an additional 754,345 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in Noble Midstream Partners by 103.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,090,730 shares of the energy company’s stock valued at $56,576,000 after purchasing an additional 555,000 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Noble Midstream Partners by 41.9% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,875,518 shares of the energy company’s stock valued at $82,281,000 after purchasing an additional 553,618 shares during the last quarter. Finally, Harvest Fund Advisors LLC lifted its holdings in Noble Midstream Partners by 31.8% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,754,116 shares of the energy company’s stock valued at $90,986,000 after purchasing an additional 422,734 shares during the last quarter. 83.92% of the stock is owned by institutional investors and hedge funds.
Shares of Noble Midstream Partners (NYSE NBLX) opened at $51.60 on Tuesday. The company has a market capitalization of $1,039.29, a P/E ratio of 14.02, a PEG ratio of 0.65 and a beta of 0.89. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.59. Noble Midstream Partners has a twelve month low of $29.40 and a twelve month high of $56.33.
Noble Midstream Partners (NYSE:NBLX) last released its quarterly earnings data on Monday, October 30th. The energy company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.05 by $0.10. The company had revenue of $63.11 million during the quarter, compared to the consensus estimate of $60.29 million. Noble Midstream Partners had a return on equity of 36.74% and a net margin of 55.83%. analysts forecast that Noble Midstream Partners will post 4.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were issued a $0.467 dividend. This represents a $1.87 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, November 3rd. This is an increase from Noble Midstream Partners’s previous quarterly dividend of $0.45. Noble Midstream Partners’s dividend payout ratio is presently 50.54%.
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About Noble Midstream Partners
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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