Brigham Minerals (NYSE:MNRL) Coverage Initiated at KeyCorp

KeyCorp started coverage on shares of Brigham Minerals (NYSE:MNRLGet Rating) in a research note issued to investors on Monday, Marketbeat.com reports. The firm issued a sector weight rating on the stock. KeyCorp also issued estimates for Brigham Minerals’ Q3 2022 earnings at $0.74 EPS, Q4 2022 earnings at $0.75 EPS, FY2022 earnings at $2.79 EPS, Q1 2023 earnings at $0.75 EPS, Q2 2023 earnings at $0.67 EPS, Q3 2023 earnings at $0.67 EPS, Q4 2023 earnings at $0.70 EPS and FY2023 earnings at $2.61 EPS.

Other analysts have also issued reports about the stock. Raymond James upped their price target on shares of Brigham Minerals from $41.00 to $49.00 and gave the stock a strong-buy rating in a research note on Tuesday, August 30th. Piper Sandler reduced their price target on shares of Brigham Minerals from $32.00 to $31.00 and set an overweight rating for the company in a research note on Friday, July 22nd. Barclays reduced their price target on shares of Brigham Minerals from $36.00 to $35.00 and set an overweight rating for the company in a research note on Wednesday, August 31st. Finally, Wells Fargo & Company increased their target price on shares of Brigham Minerals from $29.00 to $30.00 and gave the company an equal weight rating in a research note on Monday, May 23rd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $34.60.

Brigham Minerals Price Performance

NYSE MNRL opened at $26.18 on Monday. Brigham Minerals has a 52 week low of $19.08 and a 52 week high of $33.64. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 12.71 and a beta of 1.80. The company has a 50-day moving average price of $27.46 and a two-hundred day moving average price of $26.96.

Brigham Minerals (NYSE:MNRLGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. The company had revenue of $90.88 million during the quarter, compared to analyst estimates of $81.38 million. Brigham Minerals had a net margin of 41.17% and a return on equity of 14.52%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Analysts forecast that Brigham Minerals will post 2.74 EPS for the current year.

Brigham Minerals Increases Dividend

The firm also recently announced a None dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 19th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, August 18th. This is a positive change from Brigham Minerals’s previous None dividend of $0.60. This represents a yield of 2.2%. Brigham Minerals’s dividend payout ratio is currently 31.07%.

Institutional Trading of Brigham Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its position in shares of Brigham Minerals by 61.3% in the 2nd quarter. Captrust Financial Advisors now owns 1,360 shares of the company’s stock valued at $33,000 after acquiring an additional 517 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Brigham Minerals in the 1st quarter valued at approximately $41,000. Great West Life Assurance Co. Can lifted its position in shares of Brigham Minerals by 58.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,779 shares of the company’s stock valued at $76,000 after acquiring an additional 1,024 shares in the last quarter. Gibson Wealth Advisors LLC purchased a new stake in shares of Brigham Minerals in the 4th quarter valued at approximately $84,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of Brigham Minerals by 20.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,319 shares of the company’s stock valued at $84,000 after acquiring an additional 557 shares in the last quarter. 78.20% of the stock is owned by institutional investors and hedge funds.

Brigham Minerals Company Profile

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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 Delaware and Midland Basins in West Texas and New Mexico; the South Central Oklahoma Oil Province and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties 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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Analyst Recommendations for Brigham Minerals (NYSE:MNRL)

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