Brigham Minerals, Inc. (NYSE:MNRL) – Investment analysts at Piper Sandler increased their FY2021 earnings per share estimates for Brigham Minerals in a research note issued on Tuesday, May 11th. Piper Sandler analyst P. Hammond now anticipates that the company will post earnings per share of $1.04 for the year, up from their previous estimate of $0.94. Piper Sandler also issued estimates for Brigham Minerals’ Q4 2022 earnings at $0.24 EPS.
A number of other equities analysts have also weighed in on MNRL. Zacks Investment Research lowered shares of Brigham Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reaffirmed a “buy” rating and set a $18.00 price target on shares of Brigham Minerals in a report on Sunday, February 14th. TheStreet raised Brigham Minerals from a “d-” rating to a “c-” rating in a research report on Friday, May 7th. Finally, Credit Suisse Group boosted their target price on Brigham Minerals from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 3rd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Brigham Minerals has an average rating of “Buy” and an average price target of $15.60.
Brigham Minerals (NYSE:MNRL) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). Brigham Minerals had a positive return on equity of 1.70% and a negative net margin of 3.67%.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 21st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.88%. The ex-dividend date is Thursday, May 20th. This is a boost from Brigham Minerals’s previous quarterly dividend of $0.26. Brigham Minerals’s payout ratio is currently 182.46%.
In related news, Director W Howard Keenan, Jr. sold 30,941 shares of the firm’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $16.41, for a total value of $507,741.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Howard Keenan, Jr. sold 11,854 shares of Brigham Minerals stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $14.37, for a total transaction of $170,341.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,470 shares of company stock valued at $1,573,277. 3.35% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in MNRL. QV Investors Inc. purchased a new stake in Brigham Minerals in the 4th quarter worth about $53,000. Rockefeller Capital Management L.P. raised its holdings in shares of Brigham Minerals by 10,374.3% in the first quarter. Rockefeller Capital Management L.P. now owns 7,332 shares of the company’s stock worth $107,000 after buying an additional 7,262 shares during the period. Walleye Trading LLC purchased a new stake in shares of Brigham Minerals in the fourth quarter worth approximately $111,000. Walleye Capital LLC bought a new stake in shares of Brigham Minerals during the 4th quarter worth approximately $112,000. Finally, Arizona State Retirement System boosted its holdings in Brigham Minerals by 11.2% during the 4th quarter. Arizona State Retirement System now owns 12,458 shares of the company’s stock valued at $137,000 after acquiring an additional 1,254 shares during the period. 70.57% of the stock is owned by hedge funds and other institutional investors.
Brigham Minerals Company Profile
Brigham Minerals, Inc owns and operates a portfolio of mineral and royalty interests in the continental United States. The company primarily holds mineral and royalty interests in the Permian Basin in West Texas and New Mexico; the South Central Oklahoma Oil Province and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties plays in the Anadarko Basin of Oklahoma; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.
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