North American Energy Partners, Inc. (NOA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “NORTH AMERICAN ENERGY PARTNERS INC. is one of the largest providers of heavy construction, mining, piling and pipeline services in Western Canada. For more than fifty years, NAEP has provided services to large oil, natural gas and resource companies, with a principal focus on the Canadian oil sands. The Company maintains one of the largest independently owned equipment fleets in the region. “

North American Energy Partners (NYSE NOA) remained flat at $4.25 during midday trading on Wednesday. 11,217 shares of the stock were exchanged. The stock has a 50 day moving average price of $4.15 and a 200-day moving average price of $4.41. North American Energy Partners has a 12 month low of $2.75 and a 12 month high of $5.70. The company has a market capitalization of $114.14 million, a P/E ratio of 103.66 and a beta of 0.62.

WARNING: This report was first published by Transcript Daily and is owned by of Transcript Daily. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://transcriptdaily.com/2017/10/07/north-american-energy-partners-inc-noa-upgraded-at-zacks-investment-research.html.

The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Thursday, August 31st were issued a dividend of $0.016 per share. This is an increase from North American Energy Partners’s previous quarterly dividend of $0.01. The ex-dividend date was Tuesday, August 29th. This represents a $0.06 annualized dividend and a dividend yield of 1.51%. North American Energy Partners’s payout ratio is presently 600.00%.

Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of North American Energy Partners by 5.9% during the 2nd quarter. Royal Bank of Canada now owns 59,904 shares of the oil and gas company’s stock worth $264,000 after buying an additional 3,311 shares during the period. Intact Investment Management Inc. boosted its holdings in shares of North American Energy Partners by 2.9% during the 2nd quarter. Intact Investment Management Inc. now owns 419,300 shares of the oil and gas company’s stock worth $2,344,000 after buying an additional 11,700 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of North American Energy Partners by 42.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,048 shares of the oil and gas company’s stock worth $193,000 after buying an additional 11,717 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of North American Energy Partners during the 1st quarter worth about $104,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of North American Energy Partners by 144.7% during the 1st quarter. Russell Investments Group Ltd. now owns 35,687 shares of the oil and gas company’s stock worth $177,000 after buying an additional 21,101 shares during the period. 39.52% of the stock is owned by institutional investors and hedge funds.

About North American Energy Partners

North American Energy Partners Inc provides a range of mining and heavy construction services to customers in the resource development and industrial construction sectors within Western Canada. The Company’s operating divisions include Heavy Construction and Mining; Industrial, and Tailings & Environmental Construction.

Get a free copy of the Zacks research report on North American Energy Partners (NOA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for North American Energy Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for North American Energy Partners Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply