Natural Resource Partners (NYSE:NRP) Shares Gap Up After Dividend Announcement

Natural Resource Partners L.P. (NYSE:NRP)’s share price gapped up prior to trading on Friday following a dividend announcement from the company. The stock had previously closed at $99.00, but opened at $101.91. Natural Resource Partners shares last traded at $105.50, with a volume of 2,693 shares traded.

The newly announced dividend which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.21 per share. This is an increase from Natural Resource Partners’s previous dividend of $0.35. The ex-dividend date of this dividend is Tuesday, March 11th. Natural Resource Partners’s dividend payout ratio is presently 24.14%.

Natural Resource Partners Trading Up 6.5 %

The business has a 50-day moving average price of $105.29 and a two-hundred day moving average price of $100.56. The stock has a market capitalization of $1.37 billion, a P/E ratio of 8.49 and a beta of 0.56. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.35.

Natural Resource Partners (NYSE:NRP) last released its earnings results on Friday, February 28th. The energy company reported $3.15 earnings per share for the quarter. The firm had revenue of $65.73 million during the quarter. Natural Resource Partners had a return on equity of 39.69% and a net margin of 68.22%.

Institutional Trading of Natural Resource Partners

A number of institutional investors have recently modified their holdings of the stock. Formidable Asset Management LLC bought a new stake in shares of Natural Resource Partners during the 4th quarter valued at $222,000. Progeny 3 Inc. acquired a new position in shares of Natural Resource Partners during the 4th quarter worth $15,732,000. Bank of America Corp DE raised its holdings in shares of Natural Resource Partners by 48.9% during the 4th quarter. Bank of America Corp DE now owns 57,085 shares of the energy company’s stock worth $6,336,000 after buying an additional 18,754 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Natural Resource Partners by 90.1% during the 4th quarter. Jane Street Group LLC now owns 5,710 shares of the energy company’s stock worth $634,000 after buying an additional 2,707 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of Natural Resource Partners by 26.1% during the 4th quarter. Covestor Ltd now owns 773 shares of the energy company’s stock worth $86,000 after buying an additional 160 shares in the last quarter. 31.77% of the stock is currently owned by institutional investors.

Natural Resource Partners Company Profile

Natural Resource Partners L.P., together with its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States. It operates in two segments, Mineral Rights and Soda Ash. The company owns interests in coal, soda ash, trona, and other natural resources. Its coal reserves are primarily located in the Appalachia Basin, the Illinois Basin, and the Northern Powder River Basin in the United States; industrial minerals and aggregates properties located in the United States; and oil and gas properties located in Louisiana.