NBLX's current price/earnings ratio is 6.57, which is higher than only 6.28% of US stocks with positive earnings.
Of note is the ratio of Noble Midstream Partners LP's sales and general administrative expense to its total operating expenses; only 6.25% of US stocks have a lower such ratio.
Noble Midstream Partners LP's shareholder yield -- a measure of how much capital is returned to stockholders via dividends and buybacks -- is -92.13%, greater than the shareholder yield of only 3.85% of stocks in our set.
If you're looking for stocks that are quantitatively similar to Noble Midstream Partners LP, a group of peers worth examining would be ALGT, CCR, CNO, MDU, and ETM.
Noble Midstream Partners LP Common Limited Partner Interests (NBLX) Company Bio
Noble Midstream Partners LP provides crude oil, natural gas, and water-related midstream services. The Company owns, operates, develops, and acquires a wide range of domestic midstream infrastructure assets. Noble Midstream Partners conducts business in the United States. The company was founded in 2014 and is based in Houston, Texas.
NBLX Price Forecast Based on DCF Valuation
DCF Fair Value Target:
The table below illustrates the output of a discounted cash flow forecast using a variety of scenarios for Noble Midstream Partners LP. To summarize, we found that Noble Midstream Partners LP ranked in the 96th percentile in terms of potential gain offered. Moreover, under all the scenarios we modelled, the output consistently forecasted positive returns. In terms of the factors that were most noteworthy in this DCF analysis for NBLX, they are:
33% of the company's capital comes from equity, which is greater than merely 12.03% of stocks in our cash flow based forecasting set.
Noble Midstream Partners LP's weighted average cost of capital (WACC) is 6%; for context, that number is higher than merely 0.41% of tickers in our DCF set.
The company's cost of debt, derived from its interest coverage, tax rate, and market capitalization, is greater than only 11.97% of stocks in its sector (Energy).
Terminal Growth Rate in Free Cash Flow
Return Relative to Current Share Price
CVIAQ, NEBLQ, AM, WTI, and SND can be thought of as valuation peers to NBLX, in the sense that they are in the Energy sector and have a similar price forecast based on DCF valuation.
Chevron (NYSE: CVX) recently agreed to acquire Noble Energy (NASDAQ: NBL) for $13 billion, which includes the assumption of debt. While the main draw was Noble's oil and gas assets -- especially its positions in the Permian Basin and offshore Israel -- Chevron would pick up several other intriguing assets, including Noble's stake in master limited partnership Noble Midstream Partners (NYSE: NBLX). Noble Energy currently owns a 63% stake in Noble Midstream following a strategic transaction late last year to eliminate management fees and acquire its remaining midstream assets.
Noble Midstream Partners LP (NASDAQ: NBLX) ("Noble Midstream" or the "Partnership") today announced that the Board of Directors of its general partner, Noble Midstream GP LLC, declared a cash distribution of $0.1875 per unit for second-quarter 2020.