Natural Resource Partners LP (NYSE:NRP) to Issue Dividend Increase - $2.34 Per Share

Key Points

• Natural Resource Partners raised its quarterly dividend to $2.34 per share, up 212% from $0.75. The annualized payout is $9.36 per share, a 7.9% yield; holders of record December 17 are scheduled to be paid December 24.
• The company reported quarterly EPS of $1.95, beating the consensus estimate of a $0.02 loss, and revenue of $48.94 million versus the $34 million estimate.
• NRP shares rose $2.06 to $119.14 during Wednesday trading.

Natural Resource Partners LP (NYSE:NRP - Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Thursday, December 17th will be given a dividend of $2.34 per share by the energy company on Thursday, December 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 Thursday, December 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

Shares of NRP stock traded up $2.06 during trading hours on Wednesday, hitting $119.14. 81,417 shares of the company were exchanged, compared to its average volume of 40,257. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.20 and a beta of 0.10. The firm has a fifty day simple moving average of $111.64 and a 200 day simple moving average of $111.24. Natural Resource Partners has a 52-week low of $95.51 and a 52-week high of $128.60.

Natural Resource Partners (NYSE:NRP - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The energy company reported $1.95 EPS for the quarter, beating the consensus estimate of ($0.02) by $1.97. The business had revenue of $48.94 million for the quarter, compared to the consensus estimate of $34.00 million. Natural Resource Partners had a net margin of 57.13% and a return on equity of 16.65%.

Insider Activity at Natural Resource Partners

In other Natural Resource Partners news, EVP Gregory Wooten sold 2,200 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $110.89, for a total value of $243,958.00. Following the completion of the sale, the executive vice president directly owned 32,634 shares of the company's stock, valued at $3,618,784.26. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 35.30% of the company's stock.

Hedge Funds Weigh In On Natural Resource Partners

Hedge funds have recently modified their holdings of the company. State of Wyoming lifted its position in shares of Natural Resource Partners by 141.6% in the 3rd quarter. State of Wyoming now owns 1,430 shares of the energy company's stock worth $155,000 after purchasing an additional 838 shares during the period. Morningstar Investment Management LLC purchased a new position in shares of Natural Resource Partners during the first quarter valued at about $391,000. Integrated Wealth Concepts LLC increased its position in shares of Natural Resource Partners by 15.8% during the second quarter. Integrated Wealth Concepts LLC now owns 5,839 shares of the energy company's stock valued at $566,000 after buying an additional 795 shares during the period. Ulland Investment Advisors LLC raised its stake in Natural Resource Partners by 27.3% in the third quarter. Ulland Investment Advisors LLC now owns 7,000 shares of the energy company's stock worth $761,000 after buying an additional 1,500 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Natural Resource Partners by 18.2% in the first quarter. Royal Bank of Canada now owns 18,335 shares of the energy company's stock worth $2,219,000 after buying an additional 2,828 shares in the last quarter. Hedge funds and other institutional investors own 31.77% of the company's stock.

About Natural Resource Partners

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.