Natural Resource Partners (NYSE:NRP) Sets New 1-Year High Following Dividend Announcement

Natural Resource Partners L.P. (NYSE:NRP)’s stock price reached a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $102.00 and last traded at $101.34, with a volume of 60152 shares traded. The stock had previously closed at $99.00.

The newly announced dividend which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 19th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, November 19th. Natural Resource Partners’s dividend payout ratio (DPR) is 22.49%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Natural Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 17th.

Natural Resource Partners Price Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 2.43 and a quick ratio of 2.43. The company has a 50-day moving average price of $94.39 and a 200-day moving average price of $92.10. The firm has a market capitalization of $1.31 billion, a PE ratio of 7.52 and a beta of 0.50.

Natural Resource Partners (NYSE:NRP) last issued its quarterly earnings data on Wednesday, August 7th. The energy company reported $2.29 earnings per share (EPS) for the quarter. Natural Resource Partners had a return on equity of 44.97% and a net margin of 70.55%. The business had revenue of $65.54 million for the quarter.

Institutional Trading of Natural Resource Partners

Several institutional investors and hedge funds have recently made changes to their positions in NRP. Northwestern Mutual Wealth Management Co. purchased a new position in Natural Resource Partners during the second quarter worth about $34,000. Ruedi Wealth Management Inc. purchased a new position in Natural Resource Partners during the first quarter worth about $51,000. Covestor Ltd purchased a new position in Natural Resource Partners during the third quarter worth about $60,000. PEAK6 Investments LLC purchased a new position in Natural Resource Partners during the first quarter worth about $207,000. Finally, Stokes Family Office LLC purchased a new position in Natural Resource Partners during the first quarter worth about $518,000. 31.77% of the stock is currently owned by hedge funds and other institutional investors.

About Natural Resource Partners

Natural Resource Partners L.P., together with its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States. It operates in two segments, Mineral Rights and Soda Ash. The company owns interests in coal, soda ash, trona, and other natural resources. Its coal reserves are primarily located in the Appalachia Basin, the Illinois Basin, and the Northern Powder River Basin in the United States; industrial minerals and aggregates properties located in the United States; and oil and gas properties located in Louisiana.