Noble Midstream Partners LP [NASDAQ: NBLX] stock went on a downward path that fall over -0.59% on Monday, amounting to a one-week price increase of more than 3.40%. The company report on May 8, 2021 that TortoiseEcofin Announces Constituent Changes Due to Merger and Acquisition Activity.
TortoiseEcofin announced that Noble Midstream Partners LP (NASDAQ:NBLX) will be removed from the Tortoise MLP Index® (TMLP) and the Tortoise North American Pipeline IndexSM (TNAP) pending the close of the announced merger transaction with Chevron Corp (NYSE:CVX). If approved, NBLX will be removed from both indices at market open on Tuesday, May 11, 2021.
For Tortoise MLP Index® (TMLP) and Tortoise North American Pipeline IndexSM (TNAP), NBLX will be removed without a special rebalancing, because the current weight in both indices is below the weighting threshold that would trigger such action.
Over the last 12 months, NBLX stock rose by 143.36%. The one-year Noble Midstream Partners LP stock forecast points to a potential downside of -11.59. The average equity rating for NBLX stock is currently 3.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.36 billion, with 90.21 million shares outstanding and 33.86 million shares in the current float. Compared to the average trading volume of 824.25K shares, NBLX stock reached a trading volume of 11344793 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Noble Midstream Partners LP [NBLX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NBLX shares is $13.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NBLX stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Noble Midstream Partners LP shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 18, 2021. The new note on the price target was released on February 16, 2021, representing the official price target for Noble Midstream Partners LP stock. Previously, the target price had yet another raise to $12, while Wells Fargo analysts kept a Equal Weight rating on NBLX stock. On December 17, 2020, analysts increased their price target for NBLX shares from 7 to 13.50.
The Average True Range (ATR) for Noble Midstream Partners LP is set at 0.33, with the Price to Sales ratio for NBLX stock in the period of the last 12 months amounting to 1.66. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 0.26. Price to Free Cash Flow for NBLX in the course of the last twelve months was 6.29 with Quick ratio for the last quarter at 0.20.
NBLX Stock Performance Analysis:
Noble Midstream Partners LP [NBLX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.40. With this latest performance, NBLX shares gained by 6.66% in over the last four-week period, additionally plugging by 87.55% over the last 6 months – not to mention a rise of 143.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NBLX stock in for the last two-week period is set at 61.70, with the RSI for the last a single of trading hit 65.28, and the three-weeks RSI is set at 59.74 for Noble Midstream Partners LP [NBLX]. The present Moving Average for the last 50 days of trading for this stock 14.66, while it was recorded at 15.12 for the last single week of trading, and 11.13 for the last 200 days.
Insight into Noble Midstream Partners LP Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Noble Midstream Partners LP [NBLX] shares currently have an operating margin of +35.46 and a Gross Margin at +38.69. Noble Midstream Partners LP’s Net Margin is presently recorded at +17.53.
Return on Total Capital for NBLX is now 9.56, given the latest momentum, and Return on Invested Capital for the company is 6.32. Return on Equity for this stock inclined to 16.37, with Return on Assets sitting at 4.50. When it comes to the capital structure of this company, Noble Midstream Partners LP [NBLX] has a Total Debt to Total Equity ratio set at 195.70. Additionally, NBLX Total Debt to Total Capital is recorded at 66.18, with Total Debt to Total Assets ending up at 53.06. Long-Term Debt to Equity for the company is recorded at 134.75, with the Long-Term Debt to Total Capital now at 45.57.
Reflecting on the efficiency of the workforce at the company, Noble Midstream Partners LP [NBLX] managed to generate an average of $595,693 per employee. Receivables Turnover for the company is 8.17 with a Total Asset Turnover recorded at a value of 0.26.Noble Midstream Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.
NBLX Stock EPS
With the latest financial reports released by the company, Noble Midstream Partners LP posted 1.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 91.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NBLX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Noble Midstream Partners LP go to -6.40%.
Noble Midstream Partners LP [NBLX] Insider Position Details
There are presently around $377 million, or 28.80% of NBLX stock, in the hands of institutional investors. The top three institutional holders of NBLX stocks are: ALPS ADVISORS INC with ownership of 4,515,431, which is approximately 5.338% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKSTONE GROUP INC, holding 2,716,517 shares of the stock with an approximate value of $41.56 million in NBLX stocks shares; and CIBC PRIVATE WEALTH GROUP, LLC, currently with $35.05 million in NBLX stock with ownership of nearly -11.105% of the company’s market capitalization.
Positions in Noble Midstream Partners LP stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 39 institutional holders increased their position in Noble Midstream Partners LP [NASDAQ:NBLX] by around 4,816,747 shares. Additionally, 41 investors decreased positions by around 3,968,769 shares, while 10 investors held positions by with 15,833,917 shares. The mentioned changes placed institutional holdings at 24,619,433 shares, according to the latest SEC report filing. NBLX stock had 16 new institutional investments in for a total of 1,536,405 shares, while 17 institutional investors sold positions of 984,544 shares during the same period.