Yahoo Finance Reasons to Invest in Noble Midstream Partners (NBLX) Now
Noble Midstream Partners LP’s NBLX strong fundamentals and healthy liquidity along with solid growth projections make it an attractive investment option.
Let’s analyze the factors that make this currently Zacks Rank #2 (Buy) stock an ideal investment bet. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Estimate Revision
The Zacks Consensus Estimate for 2020 earnings per unit has moved north to $1.57, indicating a 14.6% improvement in the past 60 days.
The Zacks Consensus Estimate for 2021 earnings is pegged at $1.79 per unit, suggesting a 14.7% rise in the past 60 days.
Surprise History
Noble Midstream Partners’ trailing four-quarter earnings surprise is 52.47%, on average.
Liquidity Position
As of Jun 30, 2020, Noble Midstream Partners had $428 million in liquidity available under its revolving facility and cash in hand worth $12.7 million, enough to meet its near-term obligations.
Also, the firm’s times interest earned (TIE) ratio at the end of the second quarter was 7.19. The TIE ratio greater than 1 reflects the partnership’s ability to clear its debt load in the near future.
Return on Equity (ROE)
The firm’s ROE for the trailing 12 months is 20.39%, comparing favorably with the industry’s 3.77%. This uptrend highlights its higher efficiency in utilizing its shareholders’ funds than its peers.
Stock Outperformance
The stock has rallied 64.2%, outperforming the industry’s rise of 42.4% in the past six months.
Favorable VGM Score
Noble Midstream Partners currently has a VGM Score of A. Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1 or 2 offer the best upside potential.
Other Stocks to Consider
A few other top-ranked stocks in the same industry are Concho Resources Inc. CXO, EOG Resources, Inc. EOG and Parsley Energy, Inc. PE, all stocks are carrying the same Zacks Rank as Noble Midstream Partners, presently.
Concho Resources delivered an earnings surprise of 67.15%, on average, in the last four quarters. It has a long-term (three-five years) earnings growth rate of 11.93%.
EOG Resources has a long-term earnings growth rate of 8.38%. The Zacks Consensus Estimate for 2020 earnings has moved 8.5% north in the past 30 days.
Parsley Energy delivered an earnings surprise of 28.26%, on average, in the trailing four quarters. It has a long-term earnings growth rate of 36.53%.
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EOG Resources, Inc. (EOG) : Free Stock Analysis Report
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Parsley Energy, Inc. (PE) : Free Stock Analysis Report
Noble Midstream Partners LP (NBLX) : Free Stock Analysis Report
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