Insider Buying: Noble Midstream Partners LP (NYSE:NBLX) CEO Purchases 5,000 Shares of Stock

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Noble Midstream Partners LP (NYSE:NBLX) CEO Brent J. Smolik purchased 5,000 shares of Noble Midstream Partners stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $21.50 per share, with a total value of $107,500.00. Following the transaction, the chief executive officer now owns 5,000 shares in the company, valued at approximately $107,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Noble Midstream Partners stock traded down $1.04 during mid-day trading on Tuesday, reaching $20.73. 461,608 shares of the stock were exchanged, compared to its average volume of 253,234. The company has a market cap of $864.02 million, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42. 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 has a 50-day simple moving average of $23.79 and a 200 day simple moving average of $28.16. Noble Midstream Partners LP has a fifty-two week low of $20.65 and a fifty-two week high of $40.30.

Noble Midstream Partners (NYSE:NBLX) last announced its earnings results on Thursday, November 7th. The energy company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.04). 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 11.62% and a net margin of 26.19%. On average, research analysts predict that Noble Midstream Partners LP will post 3.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 11th. Investors of record on Monday, November 4th were given a dividend of $0.6716 per share. The ex-dividend date was Friday, November 1st. This represents a $2.69 dividend on an annualized basis and a dividend yield of 12.96%. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.64. Noble Midstream Partners’s dividend payout ratio (DPR) is 67.93%.

Several equities research analysts recently commented on NBLX shares. ValuEngine downgraded shares of Noble Midstream Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Bank of America reduced their price target on shares of Noble Midstream Partners from $42.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Barclays set a $30.00 price target on shares of Noble Midstream Partners and gave the company a “buy” rating in a research report on Tuesday, October 15th. Credit Suisse Group dropped their price objective on shares of Noble Midstream Partners from $40.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Noble Financial started coverage on shares of Noble Midstream Partners in a research note on Tuesday, September 3rd. They issued a “sector perform” rating and a $29.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Noble Midstream Partners has a consensus rating of “Hold” and an average target price of $35.58.

Several institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Noble Midstream Partners by 200.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 900 shares of the energy company’s stock worth $30,000 after purchasing an additional 600 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Noble Midstream Partners by 3.2% during the 2nd quarter. Van ECK Associates Corp now owns 20,747 shares of the energy company’s stock worth $690,000 after purchasing an additional 653 shares in the last quarter. Northern Oak Wealth Management Inc. acquired a new stake in shares of Noble Midstream Partners during the 2nd quarter worth about $26,000. First Republic Investment Management Inc. increased its position in Noble Midstream Partners by 4.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 20,093 shares of the energy company’s stock valued at $668,000 after acquiring an additional 783 shares in the last quarter. Finally, Cutler Group LP increased its position in Noble Midstream Partners by 100.0% in the 3rd quarter. Cutler Group LP now owns 1,800 shares of the energy company’s stock valued at $43,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 56.13% of the company’s stock.

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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