Brigham Minerals (NYSE:MNRL) PT Raised to $15.00 at UBS Group

Brigham Minerals (NYSE:MNRL) had its price objective increased by UBS Group from $14.00 to $15.00 in a research note published on Monday morning, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the stock.

MNRL has been the topic of several other research reports. Capital One Financial lowered Brigham Minerals from an overweight rating to an equal weight rating and set a $14.00 target price on the stock. in a research report on Thursday, May 21st. KeyCorp cut their target price on Brigham Minerals from $20.00 to $14.00 and set an overweight rating on the stock in a research report on Monday, March 30th. Raymond James lowered Brigham Minerals from a strong-buy rating to an outperform rating and cut their price target for the stock from $21.00 to $13.00 in a research report on Tuesday, March 17th. Credit Suisse Group lowered Brigham Minerals from an outperform rating to a neutral rating in a research report on Thursday, May 14th. Finally, Wells Fargo & Co reaffirmed an overweight rating and set a $13.00 price target on shares of Brigham Minerals in a research report on Monday, June 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $14.78.

Shares of NYSE MNRL opened at $12.54 on Monday. Brigham Minerals has a fifty-two week low of $5.86 and a fifty-two week high of $23.29. The firm has a market capitalization of $705.88 million, a PE ratio of 35.83 and a beta of 2.70. The stock’s 50-day simple moving average is $13.13 and its 200-day simple moving average is $14.35.

Brigham Minerals (NYSE:MNRL) last issued its earnings results on Wednesday, May 13th. The company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. Brigham Minerals had a return on equity of 6.98% and a net margin of 9.58%. The business had revenue of $32.28 million for the quarter, compared to analyst estimates of $29.82 million. On average, sell-side analysts forecast that Brigham Minerals will post 0.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 27th were paid a $0.37 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.48 annualized dividend and a dividend yield of 11.80%. Brigham Minerals’s dividend payout ratio (DPR) is currently 259.65%.

In other Brigham Minerals news, Director Warburg Pincus & Co Us, Llc sold 4,427,052 shares of Brigham Minerals stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $13.46, for a total value of $59,588,119.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.35% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Brigham Minerals by 53.6% in the 1st quarter. State Street Corp now owns 512,814 shares of the company’s stock valued at $4,241,000 after purchasing an additional 178,882 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Brigham Minerals by 42.0% in the 1st quarter. Royal Bank of Canada now owns 11,646 shares of the company’s stock valued at $96,000 after purchasing an additional 3,447 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Brigham Minerals by 34.6% in the first quarter. Voloridge Investment Management LLC now owns 30,729 shares of the company’s stock valued at $254,000 after buying an additional 7,894 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Brigham Minerals in the first quarter valued at approximately $38,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Brigham Minerals by 117.0% in the first quarter. Meeder Asset Management Inc. now owns 6,980 shares of the company’s stock valued at $58,000 after buying an additional 3,763 shares in the last quarter. Institutional investors own 68.65% of the company’s stock.

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.

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