Seaport Global Securities Weighs in on Natural Resource Partners LP’s Q3 2017 Earnings (NYSE:NRP)
Natural Resource Partners LP (NYSE:NRP) – Equities researchers at Seaport Global Securities dropped their Q3 2017 EPS estimates for shares of Natural Resource Partners in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Levin now forecasts that the energy company will earn $0.90 per share for the quarter, down from their prior forecast of $1.18. Seaport Global Securities also issued estimates for Natural Resource Partners’ FY2017 earnings at $2.72 EPS.
NRP has been the topic of several other research reports. ValuEngine raised Natural Resource Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 16th. Zacks Investment Research raised Natural Resource Partners from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub lowered Natural Resource Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Stifel Nicolaus set a $31.00 target price on Natural Resource Partners and gave the stock a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.75.
Shares of Natural Resource Partners (NYSE NRP) opened at 27.25 on Friday. The stock’s 50 day moving average price is $27.73 and its 200-day moving average price is $33.04. Natural Resource Partners has a 52 week low of $16.60 and a 52 week high of $45.60. The stock has a market cap of $333.32 million, a price-to-earnings ratio of 8.67 and a beta of 0.65.
Natural Resource Partners (NYSE:NRP) last issued its quarterly earnings results on Wednesday, May 10th. The energy company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.67 by $1.64. Natural Resource Partners had a return on equity of 36.75% and a net margin of 19.14%. The business had revenue of $88.70 million for the quarter, compared to analysts’ expectations of $89.49 million.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRP. Chicago Partners Investment Group LLC raised its position in Natural Resource Partners by 1.1% in the first quarter. Chicago Partners Investment Group LLC now owns 4,062 shares of the energy company’s stock valued at $147,000 after buying an additional 44 shares during the period. Wedbush Securities Inc. raised its position in Natural Resource Partners by 1.8% in the first quarter. Wedbush Securities Inc. now owns 7,383 shares of the energy company’s stock valued at $267,000 after buying an additional 127 shares during the period. Marshall Wace North America L.P. purchased a new position in Natural Resource Partners during the second quarter valued at approximately $308,000. Bank of America Corp DE raised its position in Natural Resource Partners by 5.5% in the first quarter. Bank of America Corp DE now owns 15,188 shares of the energy company’s stock valued at $549,000 after buying an additional 790 shares during the period. Finally, Van ECK Associates Corp purchased a new position in Natural Resource Partners during the first quarter valued at approximately $2,607,000. 21.59% of the stock is currently owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a dividend of $0.45 per share. This is a positive change from Natural Resource Partners’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, August 3rd. This represents a $1.80 annualized dividend and a yield of 6.61%. Natural Resource Partners’s payout ratio is 30.46%.
About Natural Resource Partners
Natural Resource Partners L.P. owns, operates, manages and leases a portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, construction aggregates and other natural resources. Coal Royalty and Other segment consists primarily of coal royalty and coal related transportation and processing assets.
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