Waverly Advisors LLC Takes Position in Natural Resource Partners LP $NRP

Waverly Advisors LLC purchased a new position in Natural Resource Partners LP (NYSE:NRP) in the first quarter, HoldingsChannel.com reports. The firm purchased 26,000 shares of the energy company’s stock, valued at approximately $3,146,000.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Natural Resource Partners by 23.7% in the first quarter. Royal Bank of Canada now owns 9,199 shares of the energy company’s stock valued at $956,000 after purchasing an additional 1,761 shares during the period. Jump Financial LLC grew its stake in shares of Natural Resource Partners by 8.1% during the second quarter. Jump Financial LLC now owns 2,444 shares of the energy company’s stock valued at $233,000 after acquiring an additional 184 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Natural Resource Partners by 144.0% during the second quarter. NewEdge Advisors LLC now owns 266 shares of the energy company’s stock worth $25,000 after acquiring an additional 157 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Natural Resource Partners in the second quarter worth about $137,000. Finally, Progeny 3 Inc. boosted its holdings in Natural Resource Partners by 4.3% in the second quarter. Progeny 3 Inc. now owns 302,550 shares of the energy company’s stock valued at $28,897,000 after purchasing an additional 12,370 shares during the last quarter. Hedge funds and other institutional investors own 31.77% of the company’s stock.

Natural Resource Partners Price Performance

Shares of NYSE NRP opened at $98.69 on Thursday. The business has a 50 day simple moving average of $100.99 and a 200-day simple moving average of $112.18. Natural Resource Partners LP has a twelve month low of $95.51 and a twelve month high of $128.60. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.60 and a beta of 0.15. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.07.

Natural Resource Partners (NYSE:NRP) last released its earnings results on Wednesday, May 6th. The energy company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $0.25 by $1.19. Natural Resource Partners had a net margin of 61.28% and a return on equity of 18.49%. The firm had revenue of $47.18 million during the quarter, compared to analyst estimates of $37.80 million.

Natural Resource Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 19th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.00 dividend on an annualized basis and a yield of 3.0%. Natural Resource Partners’s dividend payout ratio (DPR) is currently 35.25%.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Natural Resource Partners from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Insider Activity at Natural Resource Partners

In related news, EVP Kevin J. Craig bought 336 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $102.18 per share, with a total value of $34,332.48. Following the completion of the acquisition, the executive vice president owned 47,019 shares of the company’s stock, valued at $4,804,401.42. This trade represents a 0.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 35.30% of the company’s stock.

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.