Brigham Minerals, Inc. (NYSE:MNRLGet Rating) announced a None dividend on Wednesday, May 4th, Zacks reports. Investors of record on Friday, May 20th will be given a dividend of 0.60 per share on Friday, May 27th. The ex-dividend date of this dividend is Thursday, May 19th.

Brigham Minerals has a dividend payout ratio of 80.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Brigham Minerals to earn $2.44 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 73.8%.

Shares of NYSE:MNRL opened at $26.64 on Friday. The company has a 50 day moving average of $25.74 and a 200-day moving average of $23.35. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.59 billion, a P/E ratio of 17.41 and a beta of 1.97. Brigham Minerals has a twelve month low of $16.51 and a twelve month high of $28.84.

Brigham Minerals (NYSE:MNRLGet Rating) last released its earnings results on Wednesday, February 23rd. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Brigham Minerals had a return on equity of 7.55% and a net margin of 31.19%. The firm had revenue of $47.67 million during the quarter, compared to analyst estimates of $47.23 million. During the same quarter last year, the company earned $0.07 earnings per share. Equities research analysts forecast that Brigham Minerals will post 2.41 EPS for the current year.

Several brokerages have commented on MNRL. Zacks Investment Research cut shares of Brigham Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, April 9th. Wells Fargo & Company increased their target price on shares of Brigham Minerals from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, March 25th. Piper Sandler raised their target price on shares of Brigham Minerals from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 7th. KeyCorp upped their price target on Brigham Minerals from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, April 11th. Finally, TheStreet raised Brigham Minerals from a “c+” rating to a “b” rating in a research note on Monday, April 18th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $31.00.

In other news, Director Pbra, Llc sold 81,287 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $25.28, for a total value of $2,054,935.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 780,440 shares of company stock valued at $19,456,167. 3.70% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its position in shares of Brigham Minerals by 20.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,319 shares of the company’s stock worth $84,000 after purchasing an additional 557 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Brigham Minerals by 12.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,633 shares of the company’s stock valued at $146,000 after buying an additional 856 shares during the period. Millennium Management LLC purchased a new stake in Brigham Minerals in the 4th quarter worth approximately $258,000. Allstate Corp acquired a new stake in shares of Brigham Minerals during the 4th quarter valued at $330,000. Finally, Zacks Investment Management purchased a new position in shares of Brigham Minerals during the 4th quarter valued at $362,000. Institutional investors own 68.81% of the company’s stock.

About Brigham Minerals (Get Rating)

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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Dividend History for Brigham Minerals (NYSE:MNRL)



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