KeyCorp Analysts Boost Earnings Estimates for Brigham Minerals, Inc. (NYSE:MNRL)

Brigham Minerals, Inc. (NYSE:MNRL – Get Rating) – Equities research analysts at KeyCorp upped their Q3 2022 earnings estimates for Brigham Minerals in a report released on Thursday, May 5th. KeyCorp analyst L. Mariani now expects that the company will post earnings per share of $0.41 for the quarter, up from their previous estimate of $0.31. KeyCorp has a “Overweight” rating and a $28.00 price target on the stock. KeyCorp also issued estimates for Brigham Minerals’ Q4 2022 earnings at $0.41 EPS, Q1 2023 earnings at $0.35 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.37 EPS and Q4 2023 earnings at $0.37 EPS.

Brigham Minerals (NYSE:MNRL – Get Rating) last announced its quarterly 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). The business had revenue of $47.67 million for the quarter, compared to analyst estimates of $47.23 million. Brigham Minerals had a net margin of 36.54% and a return on equity of 10.84%. During the same period last year, the firm earned $0.07 earnings per share.

Other equities research analysts also recently issued reports about the stock. Raymond James upped their price target on shares of Brigham Minerals from $39.00 to $41.00 and gave the company a “strong-buy” rating in a report on Monday, April 25th. Wells Fargo & Company increased their target price on shares of Brigham Minerals from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, March 25th. TheStreet upgraded Brigham Minerals from a “c+” rating to a “b” rating in a report on Monday, April 18th. Barclays increased their price objective on Brigham Minerals from $25.00 to $29.00 in a report on Thursday, April 28th. Finally, Zacks Investment Research downgraded shares of Brigham Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, April 9th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Brigham Minerals currently has an average rating of “Buy” and an average price target of $31.00.

MNRL stock opened at $26.36 on Monday. The firm has a fifty day moving average price of $25.81 and a two-hundred day moving average price of $23.40. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 17.23 and a beta of 1.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.53 and a quick ratio of 2.53. Brigham Minerals has a 1-year low of $16.51 and a 1-year high of $28.84.

The firm also recently announced a None dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 20th will be paid a dividend of $0.60 per share. This is an increase from Brigham Minerals’s previous None dividend of $0.14. This represents a dividend yield of 2.2%. The ex-dividend date is Thursday, May 19th. Brigham Minerals’s payout ratio is currently 36.60%.

In other Brigham Minerals news, Director Pbra, Llc sold 81,287 shares of Brigham Minerals 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 780,440 shares of company stock valued at $19,456,167. 3.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNRL. Sugarloaf Wealth Management LLC raised its stake in Brigham Minerals by 153.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,686 shares of the company’s stock worth $57,000 after buying an additional 1,627 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Brigham Minerals in the fourth quarter worth approximately $65,000. Gibson Wealth Advisors LLC purchased a new stake in shares of Brigham Minerals in the fourth quarter worth approximately $84,000. Advisor Group Holdings Inc. raised its stake 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 during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Brigham Minerals in the first quarter valued at approximately $123,000. Hedge funds and other 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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