Zacks Investment Research cut shares of Natural Resource Partners LP (NYSE:NRP) from a hold rating to a strong sell rating in a report published on Friday, November 10th.
According to Zacks, “Year to date, loss in units of Natural Resource Partners was wider than the industry. The partnership’s earnings per unit in the third quarter missed the Zacks Consensus Estimate and total revenues were lower than the year-ago period. The year-over-year decline was due to lower production of coal and drop in Soda ash segment revenues. The partnership depends on a few customers for coal royalty revenues, which could adverse impact its future performance. The partnership's ongoing dispute with Foresight Energy could lead to loss of another major customer and can adversely impact its coal royalty revenue. Natural Resource Partners is well poised to reap the benefits of improving metallurgical coal prices and President Trump’s decision to relax the stringent environmental regulations. The partnership is also lowering its debt burden, which will have a positive impact on its interest expenses.”
Several other brokerages have also commented on NRP. BidaskClub raised Natural Resource Partners from a strong sell rating to a sell rating in a research note on Sunday, July 16th. Stifel Nicolaus reiterated a hold rating on shares of Natural Resource Partners in a research report on Friday, October 13th. Finally, ValuEngine downgraded Natural Resource Partners from a strong-buy rating to a buy rating in a research report on Monday, October 2nd.
Shares of Natural Resource Partners (NRP) traded down $0.05 during mid-day trading on Friday, reaching $25.45. The company had a trading volume of 14,197 shares, compared to its average volume of 38,747. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 3.12. The firm has a market cap of $311.30, a price-to-earnings ratio of 12.62 and a beta of 0.76. Natural Resource Partners has a twelve month low of $22.81 and a twelve month high of $45.60.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.07%. Natural Resource Partners’s payout ratio is currently 64.98%.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Natural Resource Partners by 5.5% during the first quarter. Bank of America Corp DE now owns 15,188 shares of the energy company’s stock worth $549,000 after acquiring an additional 790 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Natural Resource Partners by 306.1% during the third quarter. Chicago Partners Investment Group LLC now owns 4,768 shares of the energy company’s stock worth $118,000 after acquiring an additional 3,594 shares during the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of Natural Resource Partners by 1.1% during the third quarter. Maple Rock Capital Partners Inc. now owns 686,110 shares of the energy company’s stock worth $16,981,000 after acquiring an additional 7,500 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Natural Resource Partners during the second quarter worth $254,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Natural Resource Partners during the second quarter worth $308,000. Institutional investors own 20.89% of the company’s stock.
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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