Natural Resource Partners LP (NYSE:NRP) Raises Dividend to $2.34 Per Share

Natural Resource Partners LP (NYSE:NRP) declared a quarterly dividend on Wednesday, November 4th. Investors of record on Thursday, December 17th will be paid a dividend of $2.34 per share by the energy company on Thursday, December 24th. This represents a $9.36 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Thursday, December 17th. This is a 212.0% increase from Natural Resource Partners’s previous quarterly dividend of $0.75.

Natural Resource Partners has raised its dividend by an average of 0.3% annually over the last three years.

Natural Resource Partners Stock Up 1.8%

Shares of NRP stock traded up $2.06 during trading hours on Wednesday, hitting $119.14. 81,417 shares of the company’s stock traded hands, compared to its average volume of 40,257. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $111.64 and its two-hundred day simple moving average is $111.24. Natural Resource Partners has a 12-month low of $95.51 and a 12-month high of $128.60. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 15.20 and a beta of 0.10.

Natural Resource Partners (NYSE:NRP) last announced its quarterly earnings data on Wednesday, November 4th. The energy company reported $1.95 EPS for the quarter, beating the consensus estimate of ($0.02) by $1.97. Natural Resource Partners had a net margin of 57.13% and a return on equity of 16.65%. The company had revenue of $48.94 million for the quarter, compared to the consensus estimate of $34.00 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Natural Resource Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 27th. One research analyst has rated the stock with a Buy rating. According to MarketBeat.com, Natural Resource Partners currently has an average rating of “Buy”.

About Natural Resource Partners

Natural Resource Partners L.P. is a Houston-based master limited partnership that owns and manages a diversified portfolio of natural resource properties. The company generally does not operate mines or other extraction facilities; instead, it leases its mineral interests to operating companies and receives royalty payments and other mineral-related revenues.

NRP’s mineral rights include coal reserves and properties associated with oil and natural gas, aggregates, and other industrial minerals.