Zacks Investment Research cut shares of Natural Resource Partners LP (NYSE:NRP) from a hold rating to a strong sell rating in a report issued on Friday morning.
According to Zacks, “Year to date, loss in units of Natural Resource Partners was wider than the industry. The partnership’s earnings per unit in the third quarter missed the Zacks Consensus Estimate and total revenues were lower than the year-ago period. The year-over-year decline was due to lower production of coal and drop in Soda ash segment revenues. The partnership depends on a few customers for coal royalty revenues, which could adverse impact its future performance. The partnership's ongoing dispute with Foresight Energy could lead to loss of another major customer and can adversely impact its coal royalty revenue. Natural Resource Partners is well poised to reap the benefits of improving metallurgical coal prices and President Trump’s decision to relax the stringent environmental regulations. The partnership is also lowering its debt burden, which will have a positive impact on its interest expenses.”
Several other research analysts have also recently commented on the company. BidaskClub raised Natural Resource Partners from a strong sell rating to a sell rating in a research report on Sunday, July 16th. Stifel Nicolaus reissued a hold rating on shares of Natural Resource Partners in a research report on Friday, October 13th. Finally, ValuEngine cut Natural Resource Partners from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of Hold and an average target price of $27.50.
Shares of Natural Resource Partners (NYSE:NRP) traded up $0.05 during midday trading on Friday, reaching $25.95. The company had a trading volume of 10,900 shares, compared to its average volume of 36,124. Natural Resource Partners has a 1 year low of $22.81 and a 1 year high of $45.60. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 3.12. The firm has a market capitalization of $317.42, a PE ratio of 12.85 and a beta of 0.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th will be given a $0.45 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.94%. Natural Resource Partners’s payout ratio is 72.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of Natural Resource Partners by 16.7% in the second quarter. Goldman Sachs Group Inc. now owns 518,356 shares of the energy company’s stock valued at $14,281,000 after buying an additional 74,138 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Natural Resource Partners in the second quarter valued at approximately $254,000. JPMorgan Chase & Co. lifted its position in shares of Natural Resource Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 657,207 shares of the energy company’s stock valued at $18,106,000 after buying an additional 257,912 shares during the last quarter. Morgan Stanley lifted its position in shares of Natural Resource Partners by 488.5% in the first quarter. Morgan Stanley now owns 341,621 shares of the energy company’s stock valued at $12,350,000 after buying an additional 283,574 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Natural Resource Partners in the second quarter valued at approximately $308,000. 20.32% of the stock is owned by institutional investors.
About Natural Resource Partners
Natural Resource Partners L.P. owns, operates, manages and leases a portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, construction aggregates and other natural resources. Coal Royalty and Other segment consists primarily of coal royalty and coal related transportation and processing assets.
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