Natural Resource Partners LP (NYSE:NRP) Raises Dividend to $2.34 Per Share

Key Points

• Natural Resource Partners raised its quarterly dividend to $2.34 per share, up 212% from $0.75. That equals $9.36 annualized and a 7.9% yield; shareholders of record November 17 are scheduled to be paid November 24.
• The company reported quarterly earnings per share of $1.95, far above analysts’ estimate of a $0.02 loss, while revenue of $48.94 million also exceeded the $34 million consensus estimate.
• NRP shares opened at $119.14, within a 52-week range of $95.51 to $128.60; the company had a market capitalization of $1.58 billion.

Natural Resource Partners LP (NYSE:NRP - Get Free Report) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, November 17th will be given a dividend of $2.34 per share by the energy company on Tuesday, November 24th. This represents a $9.36 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Tuesday, November 17th. This is a 212.0% increase from Natural Resource Partners's previous quarterly dividend of $0.75.

Natural Resource Partners has raised its dividend payment by an average of 0.3% annually over the last three years.

Natural Resource Partners Stock Performance

NYSE:NRP opened at $119.14 on Thursday. The firm has a 50-day moving average of $111.85 and a two-hundred day moving average of $111.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market cap of $1.58 billion, a P/E ratio of 15.20 and a beta of 0.10. Natural Resource Partners has a 1-year low of $95.51 and a 1-year high of $128.60.

Natural Resource Partners (NYSE:NRP - Get Free Report) last announced its earnings results on Wednesday, November 4th. The energy company reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $1.97. Natural Resource Partners had a return on equity of 16.65% and a net margin of 57.13%. The business had revenue of $48.94 million for the quarter, compared to analyst estimates of $34.00 million.

Insider Activity at Natural Resource Partners

In other news, EVP Gregory Wooten sold 2,200 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $110.89, for a total transaction of $243,958.00. Following the completion of the transaction, the executive vice president owned 32,634 shares in the company, valued at approximately $3,618,784.26. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 35.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming raised its position in Natural Resource Partners by 141.6% in the third quarter. State of Wyoming now owns 1,430 shares of the energy company's stock worth $155,000 after acquiring an additional 838 shares in the last quarter. Ulland Investment Advisors LLC grew its holdings in shares of Natural Resource Partners by 27.3% during the 3rd quarter. Ulland Investment Advisors LLC now owns 7,000 shares of the energy company's stock valued at $761,000 after acquiring an additional 1,500 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Natural Resource Partners by 15.8% in the second quarter. Integrated Wealth Concepts LLC now owns 5,839 shares of the energy company's stock worth $566,000 after acquiring an additional 795 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Natural Resource Partners by 48.2% during the 1st quarter. Bank of America Corp DE now owns 183,026 shares of the energy company's stock valued at $22,146,000 after acquiring an additional 59,523 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Natural Resource Partners by 18.2% in the 1st quarter. Royal Bank of Canada now owns 18,335 shares of the energy company's stock worth $2,219,000 after acquiring an additional 2,828 shares during the period. 31.77% of the stock is currently owned by institutional investors.

Natural Resource Partners Company Profile

Natural Resource Partners L.P. is a Houston-based master limited partnership that owns and manages a diversified portfolio of natural resource properties. The company generally does not operate mines or other extraction facilities; instead, it leases its mineral interests to operating companies and receives royalty payments and other mineral-related revenues.

NRP's mineral rights include coal reserves and properties associated with oil and natural gas, aggregates, and other industrial minerals.

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