Energy Income Partners LLC Purchases 91,100 Shares of Core Natural Resources, Inc. $CNR

Key Points

• Energy Income Partners increased its Core Natural Resources position by 68.9%, purchasing 91,100 shares in the first quarter to hold 223,354 shares valued at approximately $23.4 million. Institutional investors collectively own 86.54% of CNR.
• Analyst sentiment remains generally positive, with four Buy ratings, one Hold, and one Sell. The stock has an average “Moderate Buy” rating and a consensus price target of $112.50, although UBS recently reduced its target to $100.
• CNR opened at $82.45, below its 50-day and 200-day moving averages, after reporting quarterly EPS of $0.41 that exceeded estimates but revenue of $899.5 million that fell short of expectations. The company also pays a quarterly dividend of $0.10, representing a 0.5% annualized yield.

Energy Income Partners LLC lifted its position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 68.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,354 shares of the energy company's stock after purchasing an additional 91,100 shares during the period. Energy Income Partners LLC owned about 0.44% of Core Natural Resources worth $23,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Core Natural Resources by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,669,844 shares of the energy company's stock valued at $501,838,000 after buying an additional 39,557 shares in the last quarter. State Street Corp increased its stake in Core Natural Resources by 7.8% in the 4th quarter. State Street Corp now owns 3,707,442 shares of the energy company's stock worth $328,146,000 after buying an additional 267,925 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Core Natural Resources during the fourth quarter valued at about $86,297,000. Charles Schwab Investment Management Inc. raised its holdings in Core Natural Resources by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,224 shares of the energy company's stock valued at $66,491,000 after acquiring an additional 40,383 shares during the period. Finally, Goehring & Rozencwajg Associates LLC lifted its position in shares of Core Natural Resources by 134.0% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 708,225 shares of the energy company's stock valued at $74,172,000 after acquiring an additional 405,505 shares in the last quarter. 86.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CNR shares. Weiss Ratings lowered Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. UBS Group lowered their price target on Core Natural Resources from $107.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Zacks Research upgraded Core Natural Resources from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Core Natural Resources from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Core Natural Resources in a research report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Core Natural Resources currently has an average rating of "Moderate Buy" and an average price target of $112.50.

Core Natural Resources Stock Down 0.9%

CNR opened at $82.45 on Tuesday. The firm has a 50-day simple moving average of $85.60 and a two-hundred day simple moving average of $90.72. Core Natural Resources, Inc. has a 52 week low of $68.78 and a 52 week high of $114.80. The company has a market capitalization of $4.16 billion, a PE ratio of -67.58 and a beta of 0.15. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 0.11.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its earnings results on Thursday, May 7th. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.13. The firm had revenue of $899.48 million for the quarter, compared to analysts' expectations of $1.06 billion. Core Natural Resources had a negative return on equity of 1.69% and a negative net margin of 1.49%.The business's revenue was up 94.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.39 earnings per share. Analysts forecast that Core Natural Resources, Inc. will post 2.45 earnings per share for the current fiscal year.

Core Natural Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Core Natural Resources's payout ratio is presently -32.79%.

Core Natural Resources Company Profile

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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