Noble Midstream Partners LP (NYSE:NBLX) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 906,900 shares, a growth of 20.9% from the June 30th total of 750,200 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average daily trading volume, of 182,400 shares, the days-to-cover ratio is presently 5.0 days.
Noble Midstream Partners stock traded down $1.27 during trading on Wednesday, reaching $24.94. The company had a trading volume of 305,285 shares, compared to its average volume of 227,950. Noble Midstream Partners has a 52 week low of $24.64 and a 52 week high of $49.01. The business’s 50-day moving average is $30.96. The stock has a market capitalization of $992.57 million, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.75 and a quick ratio of 0.75.
Noble Midstream Partners (NYSE:NBLX) last announced its earnings results on Friday, August 2nd. The energy company reported $0.79 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.10). Noble Midstream Partners had a return on equity of 12.28% and a net margin of 28.24%. The company had revenue of $158.26 million during the quarter, compared to the consensus estimate of $136.40 million. On average, sell-side analysts forecast that Noble Midstream Partners will post 4.01 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were issued a $0.6418 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.57 dividend on an annualized basis and a yield of 10.29%. Noble Midstream Partners’s dividend payout ratio is currently 64.90%.
A number of institutional investors have recently made changes to their positions in the stock. Northern Oak Wealth Management Inc. bought a new stake in Noble Midstream Partners during the second quarter valued at about $26,000. Icon Wealth Partners LLC bought a new stake in Noble Midstream Partners during the first quarter valued at about $36,000. Signaturefd LLC bought a new stake in Noble Midstream Partners during the first quarter valued at about $56,000. BNP Paribas Arbitrage SA bought a new stake in Noble Midstream Partners during the second quarter valued at about $176,000. Finally, American Century Companies Inc. bought a new stake in Noble Midstream Partners during the fourth quarter valued at about $248,000. 54.96% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on NBLX shares. Rowe lowered their price target on Noble Midstream Partners to $49.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Zacks Investment Research raised Noble Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut Noble Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $48.00 to $41.00 in a report on Friday, June 7th. Finally, Piper Jaffray Companies started coverage on Noble Midstream Partners in a report on Wednesday, July 17th. They set a “neutral” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.91.
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.
See Also: Net Asset Value
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