Bank of America Corp DE Has $22.15 Million Stock Position in Natural Resource Partners LP $NRP

Key Points

• Bank of America increased its Natural Resource Partners stake by 48.2% in the first quarter, holding 183,026 shares valued at approximately $22.15 million. Institutional investors collectively own 31.77% of NRP.
• Natural Resource Partners reported quarterly EPS of $1.85, far exceeding the $0.30 analyst consensus, while revenue reached $52.97 million versus expectations of $37.70 million.
• The company declared a quarterly dividend of $0.75 per share, equivalent to $3.00 annually and a 2.9% yield. Analysts maintain an overall “Hold” rating, while shares recently traded at $102.89.

Bank of America Corp DE lifted its holdings in Natural Resource Partners LP (NYSE:NRP - Free Report) by 48.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,026 shares of the energy company's stock after purchasing an additional 59,523 shares during the period. Bank of America Corp DE owned 1.38% of Natural Resource Partners worth $22,146,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NRP. Bastion Asset Management Inc. acquired a new position in shares of Natural Resource Partners during the 1st quarter worth about $2,363,000. Fairholme Capital Management LLC acquired a new stake in Natural Resource Partners in the 4th quarter valued at approximately $1,253,000. Mizuho Markets Americas LLC acquired a new stake in Natural Resource Partners in the 1st quarter valued at approximately $3,073,000. Waverly Advisors LLC bought a new position in Natural Resource Partners in the 1st quarter worth approximately $3,146,000. Finally, Solidarity Wealth LLC lifted its holdings in shares of Natural Resource Partners by 9.0% during the fourth quarter. Solidarity Wealth LLC now owns 214,776 shares of the energy company's stock worth $22,423,000 after buying an additional 17,731 shares during the last quarter. Institutional investors own 31.77% of the company's stock.

Natural Resource Partners Stock Performance

NYSE:NRP opened at $102.89 on Wednesday. Natural Resource Partners LP has a 12-month low of $95.51 and a 12-month high of $128.60. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.36 billion, a PE ratio of 13.12 and a beta of 0.15. The firm has a 50-day moving average price of $100.34 and a 200 day moving average price of $110.85.

Natural Resource Partners (NYSE:NRP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $1.55. Natural Resource Partners had a return on equity of 16.65% and a net margin of 57.13%.The company had revenue of $52.97 million during the quarter, compared to analysts' expectations of $37.70 million.

Natural Resource Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.9%. Natural Resource Partners's dividend payout ratio (DPR) is presently 38.27%.

Insider Transactions at Natural Resource Partners

In related news, EVP Kevin J. Craig acquired 336 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was bought at an average price of $102.18 per share, for a total transaction of $34,332.48. Following the acquisition, the executive vice president directly owned 47,019 shares of the company's stock, valued at approximately $4,804,401.42. The trade was a 0.72% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 35.30% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Natural Resource Partners from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold".

Natural Resource Partners Profile

Natural Resource Partners LP NYSE: NRP is a master limited partnership that acquires and manages royalty and other mineral interests in coal and other natural resources across North America and Australia. The partnership was formed in 2010 as a spin-out from a major U.S. coal producer and is headquartered in Fairmont, West Virginia. Its core business model centers on owning gross proceeds interests, gross royalty proceeds interests and fee minerals, which provide the right to receive a portion of revenues from mining and mineral production without operating the mines directly.

NRP's U.S.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source