Energy Income Partners LLC Makes New Investment in Core Natural Resources, Inc. $CNR

Key Points

• Energy Income Partners LLC has invested approximately $6.20 million in Core Natural Resources, acquiring 80,354 shares and owning 0.15% of the company.
• Core Natural Resources reported a loss of $0.70 per share in its latest quarterly earnings, significantly missing analysts' expectations of $1.31.
• The company recently declared a $0.10 dividend with a yield of 56.0%, payable on September 15th to stockholders of record.

Energy Income Partners LLC purchased a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,354 shares of the energy company's stock, valued at approximately $6,195,000. Energy Income Partners LLC owned approximately 0.15% of Core Natural Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new stake in Core Natural Resources during the first quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Core Natural Resources in the first quarter valued at approximately $29,000. Farther Finance Advisors LLC purchased a new position in Core Natural Resources in the first quarter worth approximately $30,000. Whipplewood Advisors LLC purchased a new stake in shares of Core Natural Resources during the 1st quarter worth approximately $31,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Core Natural Resources during the 1st quarter worth approximately $33,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Stock Performance

CNR stock traded down $0.65 during midday trading on Wednesday, hitting $71.47. The stock had a trading volume of 464,579 shares, compared to its average volume of 694,061. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 17.64 and a beta of 0.76. Core Natural Resources, Inc. has a 52 week low of $58.19 and a 52 week high of $134.59. The stock has a 50-day simple moving average of $73.71 and a 200 day simple moving average of $72.86. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing the consensus estimate of $1.31 by ($2.01). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.04 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. As a group, equities research analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 56.0%. Core Natural Resources's dividend payout ratio is 18.35%.

Analysts Set New Price Targets

Several research firms recently commented on CNR. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price target (up previously from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Benchmark decreased their price target on shares of Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. B. Riley decreased their price target on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Finally, UBS Group reiterated a "buy" rating and set a $86.00 price objective (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Core Natural Resources currently has an average rating of "Moderate Buy" and a consensus price target of $105.80.

About Core Natural Resources

Core Natural Resources, Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company's PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users.