Brokers Set Expectations for Brigham Minerals, Inc.’s Q2 2022 Earnings (NYSE:MNRL)

Brigham Minerals, Inc. (NYSE:MNRLGet Rating) – Piper Sandler raised their Q2 2022 EPS estimates for shares of Brigham Minerals in a note issued to investors on Thursday, April 7th. Piper Sandler analyst M. Lear now forecasts that the company will post earnings per share of $1.01 for the quarter, up from their previous forecast of $0.56. Piper Sandler has a “Overweight” rating and a $31.00 price target on the stock. Piper Sandler also issued estimates for Brigham Minerals’ Q3 2022 earnings at $1.13 EPS, Q4 2022 earnings at $1.19 EPS, FY2022 earnings at $3.94 EPS, Q1 2023 earnings at $1.19 EPS, Q2 2023 earnings at $1.16 EPS, Q3 2023 earnings at $0.99 EPS, Q4 2023 earnings at $0.91 EPS, FY2023 earnings at $4.24 EPS, Q1 2024 earnings at $0.86 EPS and FY2024 earnings at $3.53 EPS.

Other analysts have also issued reports about the company. Raymond James raised their price objective on Brigham Minerals from $35.00 to $39.00 and gave the company a “strong-buy” rating in a report on Friday, March 25th. Zacks Investment Research lowered Brigham Minerals from a “buy” rating to a “hold” rating in a report on Saturday. Barclays raised their price objective on Brigham Minerals from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, February 15th. Finally, Wells Fargo & Company raised their price objective on Brigham Minerals from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, March 25th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brigham Minerals currently has a consensus rating of “Buy” and an average target price of $29.50.

Brigham Minerals stock opened at $27.55 on Monday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 24.82 and a beta of 2.12. Brigham Minerals has a 52 week low of $15.07 and a 52 week high of $28.20. The business’s 50-day moving average price is $24.11 and its 200 day moving average price is $22.57. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.13.

Brigham Minerals (NYSE:MNRLGet Rating) last announced its quarterly earnings data 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). The firm had revenue of $47.67 million during the quarter, compared to analyst estimates of $47.23 million. Brigham Minerals had a net margin of 31.19% and a return on equity of 7.55%. During the same period in the prior year, the company posted $0.07 earnings per share.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. purchased a new stake in Brigham Minerals during the 3rd quarter worth about $13,194,000. Eagle Asset Management Inc. purchased a new stake in Brigham Minerals during the 4th quarter worth about $5,220,000. Westwood Holdings Group Inc. lifted its holdings in Brigham Minerals by 16.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,571,366 shares of the company’s stock worth $33,140,000 after buying an additional 224,462 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in Brigham Minerals by 16.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,442,498 shares of the company’s stock worth $30,422,000 after buying an additional 204,245 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Brigham Minerals by 875.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 214,132 shares of the company’s stock worth $4,103,000 after buying an additional 192,184 shares during the last quarter. 66.80% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Pbra, Llc sold 47,431 shares of Brigham Minerals stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $24.05, for a total value of $1,140,715.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 780,440 shares of company stock valued at $19,456,167 over the last ninety days. Insiders own 3.70% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 18th were paid a $0.45 dividend. The ex-dividend date was Thursday, March 17th. This is a boost from Brigham Minerals’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.53%. Brigham Minerals’s payout ratio is presently 50.45%.

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.

See Also

Earnings History and Estimates for Brigham Minerals (NYSE:MNRL)

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