Brigham Minerals Inc (NYSE:MNRL) – Equities researchers at Piper Jaffray Companies increased their Q3 2019 earnings per share (EPS) estimates for shares of Brigham Minerals in a note issued to investors on Tuesday, September 17th. Piper Jaffray Companies analyst P. Hammond now forecasts that the company will post earnings of $0.46 per share for the quarter, up from their previous estimate of $0.45. Piper Jaffray Companies also issued estimates for Brigham Minerals’ Q4 2019 earnings at $0.59 EPS and FY2019 earnings at $1.30 EPS.
Several other research firms have also commented on MNRL. SunTrust Banks initiated coverage on Brigham Minerals in a research report on Monday, June 17th. They issued a “buy” rating and a $28.00 price objective on the stock. Seaport Global Securities reissued a “buy” rating on shares of Brigham Minerals in a research report on Friday, June 21st. Finally, Zacks Investment Research raised Brigham Minerals from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.80.
NYSE:MNRL opened at $21.38 on Thursday. The firm has a 50-day moving average of $20.15. Brigham Minerals has a 12 month low of $18.36 and a 12 month high of $23.29.
Brigham Minerals (NYSE:MNRL) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $24.53 million during the quarter, compared to analysts’ expectations of $23.73 million.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Balter Liquid Alternatives LLC purchased a new stake in shares of Brigham Minerals during the second quarter worth about $820,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Brigham Minerals during the second quarter worth about $10,600,000. Van ECK Associates Corp purchased a new stake in shares of Brigham Minerals during the second quarter worth about $6,180,000. Meridian Wealth Advisors LLC purchased a new stake in shares of Brigham Minerals during the second quarter worth about $499,000. Finally, JHL Capital Group LLC purchased a new stake in shares of Brigham Minerals during the second quarter worth about $3,219,000. 57.70% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced an annual dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.33 per share. This represents a dividend yield of 1.71%. The ex-dividend date was Wednesday, August 21st.
About Brigham Minerals
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 SCOOP/STACK plays in the Anadarko Basin of Oklahoma; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.