Mirae Asset Global Investments Co. Ltd. Buys New Shares in Rattler Midstream LP (NASDAQ:RTLR)

Mirae Asset Global Investments Co. Ltd. bought a new stake in Rattler Midstream LP (NASDAQ:RTLRGet Rating) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,899,115 shares of the company’s stock, valued at approximately $26,531,000. Mirae Asset Global Investments Co. Ltd. owned 1.30% of Rattler Midstream as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Clearbridge Investments LLC grew its holdings in Rattler Midstream by 1.1% in the first quarter. Clearbridge Investments LLC now owns 3,121,548 shares of the company’s stock valued at $43,608,000 after purchasing an additional 35,300 shares during the period. Evergreen Capital Management LLC grew its holdings in Rattler Midstream by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 1,088,414 shares of the company’s stock valued at $12,386,000 after purchasing an additional 10,645 shares during the period. Allianz Asset Management GmbH grew its holdings in Rattler Midstream by 102.4% in the first quarter. Allianz Asset Management GmbH now owns 684,328 shares of the company’s stock valued at $9,560,000 after purchasing an additional 346,300 shares during the period. Wellington Management Group LLP grew its stake in Rattler Midstream by 237.7% during the first quarter. Wellington Management Group LLP now owns 627,795 shares of the company’s stock worth $8,770,000 after buying an additional 441,881 shares during the period. Finally, Longfellow Investment Management Co. LLC grew its stake in Rattler Midstream by 13.6% during the fourth quarter. Longfellow Investment Management Co. LLC now owns 342,137 shares of the company’s stock worth $3,894,000 after buying an additional 40,845 shares during the period. 19.84% of the stock is currently owned by hedge funds and other institutional investors.

Rattler Midstream Price Performance

RTLR opened at $15.22 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. Rattler Midstream LP has a 52-week low of $10.28 and a 52-week high of $18.22. The company has a 50 day moving average of $14.21 and a two-hundred day moving average of $14.32. The company has a market cap of $2.22 billion, a P/E ratio of 16.37 and a beta of 2.86.

Rattler Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.88%. Rattler Midstream’s payout ratio is currently 129.03%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company downgraded shares of Rattler Midstream from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $17.00 to $14.00 in a research note on Tuesday, August 16th.

Rattler Midstream Profile

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Rattler Midstream LP owns, operates, develops, and acquires midstream and energy-related infrastructure assets in the Midland and Delaware Basins of the Permian Basin. The company provides crude oil and water-related midstream services. As of December 31, 2021, it owned and operated 866 miles of crude oil, sourced water, and produced water gathering pipelines on acreage that overlays Diamondback Energy, Inc's core Midland and Delaware Basin development areas.

Further Reading

Institutional Ownership by Quarter for Rattler Midstream (NASDAQ:RTLR)

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