In last trading session, Noble Midstream Partners LP (NASDAQ:NBLX) saw 1,414,401 shares changing hands with its beta currently measuring 3.94. Company’s recent per share price level of $8.99 trading at -$0.1 or -1.53% at ring of the bell on the day assigns it a market valuation of $812.45 Million. That closing price of NBLX’s stock is at a discount of -283.76% from its 52-week high price of $34.5 and is indicating a premium of 79.87% from its 52-week low price of $1.81. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 763.09 Million shares which gives us an average trading volume of 992.41 Million if we extend that period to 3-months.
For Noble Midstream Partners LP (NBLX), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 3. Splitting up the data highlights that, out of 6 analysts covering the stock, none rated the stock as a Sell while none recommended an Overweight rating for the stock. 6 suggested the stock as a Hold whereas none see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.53 in the current quarter.
Noble Midstream Partners LP (NASDAQ:NBLX) trade information
In the face of being in the red today for losing -1.53%, in the last five days NBLX remained trading in the green while hitting it’s week-highest on Friday, Jun 19 when the stock touched $10.78- price level, adding 16.64% to its value on the day. Noble Midstream Partners LP’s shares saw a change of -66.15% in year-to-date performance and have moved -10.55% in past 5-day. Noble Midstream Partners LP (NASDAQ:NBLX) showed a performance of 9.5% in past 30-days. Number of shares sold short was 824.7 Million shares which calculate 0.83 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $7.25 to the stock, which implies targetted prices is already lagging behind -19.35% to its current value. Analysts have been projecting $5 as a low price target for the stock while placing it at a high target of $10. It follows that stock’s current price would jump +11.23% in reaching the projected high whereas dropping to the targeted low would mean a loss of -44.38% for stock’s current value.
Noble Midstream Partners LP (NBLX) estimates and forecasts
Statistics highlight that Noble Midstream Partners LP is scoring comparatively lower than the scores of other players of the relevant industry. The company lessened -65.3% of value to its shares in past 6 months, showing an annual growth rate of -57.47% while that of industry is -31.9. Apart from that, the company came lowering its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to decline by -33.8% in the current quarter and calculating -37.5% decline in the next quarter. This year revenue growth is estimated to drop -7.8% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $132.75 Million for the same. And 3 analysts are in estimates of company making revenue of $144.05 Million in the next quarter that will end in September 01, 2020. Company posted $158.26 Million and $148.69 Million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to drop by -16.1% while estimating it to be -3.1% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 54.2% during past 5 years. In 2020, company’s earnings growth rate is likely to be around -19.7% while estimates for its earnings growth in next 5 years are of -11.63%
Noble Midstream Partners LP is more likely to be releasing its next quarterly report between July 31 and August 04, 2020, and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 8.21%, the share has a forward dividend of 0.75 which implies that company’s dividend yield remained growing in trailing twelve months.
Noble Midstream Partners LP (NASDAQ:NBLX)’s Major holders
Insiders are in possession of 62.76% of company’s total shares while institution are holding 37.55% percent of that, with stock having share float percentage of 100.82%. Investors also watch the number of corporate investors in a company very closely, which is 106 institutions for Noble Midstream Partners LP that are currently holding shares of the company. Tortoise Capital Advisors, LLC is the top institutional holder at NBLX for having 4.33 Million shares of worth $15.16 Million. And as of March 30, 2020, it was holding 4.8% of the company’s outstanding shares.
The second largest institutional holder is Alps Advisors Inc., which was holding about 4.27 Million shares on March 30, 2020. The number of shares represents firm’s hold over 4.74% of outstanding shares, having a total worth of $14.96 Million.
On the other hand, Alps ETF Tr-Alerian MLP ETF and Center Coast Brookfield Midstream Focus Fd are the top two Mutual Funds which own company’s shares. As of February 28, 2020, the former fund manager was holding 3868131 shares of worth $59.38 Million or 4.29% of the total outstanding shares. The later fund manager was in possession of 2.55 Million shares on March 30, 2020, making its stake of worth around $8.92 Million in the company or a holder of 2.82% of company’s stock.