Natural Resource Partners (NYSE:NRP) Reaches New 52-Week High – Here’s Why

Natural Resource Partners L.P. (NYSE:NRP) hit a new 52-week high on Friday . The company traded as high as $113.04 and last traded at $113.04, with a volume of 4628 shares trading hands. The stock had previously closed at $106.75.

Analyst Ratings Changes

Separately, StockNews.com cut Natural Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 17th.

Natural Resource Partners Stock Performance

The company’s fifty day simple moving average is $98.96 and its two-hundred day simple moving average is $93.41. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.33 and a current ratio of 2.33.

Natural Resource Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, November 19th. Natural Resource Partners’s payout ratio is currently 24.14%.

Institutional Investors Weigh In On Natural Resource Partners

A number of institutional investors have recently made changes to their positions in NRP. Northwestern Mutual Wealth Management Co. acquired a new position in Natural Resource Partners in the second quarter valued at approximately $34,000. Covestor Ltd acquired a new stake in Natural Resource Partners in the 3rd quarter valued at approximately $60,000. Exchange Traded Concepts LLC raised its stake in shares of Natural Resource Partners by 14.0% during the third quarter. Exchange Traded Concepts LLC now owns 7,322 shares of the energy company’s stock valued at $716,000 after purchasing an additional 898 shares in the last quarter. Stokes Family Office LLC lifted its stake in shares of Natural Resource Partners by 17.8% in the 2nd quarter. Stokes Family Office LLC now owns 6,625 shares of the energy company’s stock worth $594,000 after acquiring an additional 1,000 shares during the period. Finally, Pekin Hardy Strauss Inc. boosted its stake in Natural Resource Partners by 7.5% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 17,950 shares of the energy company’s stock valued at $1,756,000 after purchasing an additional 1,260 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.