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Natural Resource Partners

NYSE:NRP
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NRP
NYSE
$413M
Market Cap
  1. Home
  2. US
  3. Energy
Company description

Natural Resource Partners L.P., through its subsidiaries, owns, operates, manages, and leases mineral properties in the United States. The last earnings update was 5 days ago. More info.


Add to Portfolio Compare Print
  • Natural Resource Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
NRP Share Price and Events
7 Day Returns
-0.8%
NYSE:NRP
-3%
US Oil and Gas
-1.4%
US Market
1 Year Returns
29.8%
NYSE:NRP
1.4%
US Oil and Gas
10%
US Market
NRP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Natural Resource Partners (NRP) -0.8% -0.8% 6.9% 29.8% 104.5% -83.1%
US Oil and Gas -3% -7.5% -4.9% 1.4% 13.5% -3.5%
US Market -1.4% -1% -3.3% 10% 55.6% 97.4%
1 Year Return vs Industry and Market
  • NRP outperformed the Oil and Gas industry which returned 1.4% over the past year.
  • NRP outperformed the Market in United States of America which returned 10% over the past year.
Price Volatility
NRP
Industry
5yr Volatility vs Market

NRP Value

 Is Natural Resource Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Natural Resource Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Natural Resource Partners.

NYSE:NRP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 17.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:NRP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 21%) (191.62%))
2.293
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (2 * 7.05%)
17.05%

Discounted Cash Flow Calculation for NYSE:NRP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Natural Resource Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:NRP DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 63.53 64.26 64.99 65.73 66.48
Source Est @ 1.14% Est @ 1.14% Est @ 1.14% Est @ 1.14% Est @ 1.14%
Present Value
Discounted (@ 17.05%)
54.28 46.90 40.53 35.02 30.26
Present value of next 5 years cash flows $206.98
NYSE:NRP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $66.48 × (1 + 2.95%) ÷ (17.05% – 2.95%)
$485.41
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $485.41 ÷ (1 + 17.05%)5
$220.93
NYSE:NRP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $206.98 + $220.93
$427.91
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $427.91 / 12.25
$34.94
NYSE:NRP Discount to Share Price
Calculation Result
Value per share (USD) From above. $34.94
Current discount Discount to share price of $33.74
= -1 x ($33.74 - $34.94) / $34.94
3.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Natural Resource Partners is available for.
Intrinsic value
3%
Share price is $33.74 vs Future cash flow value of $34.94
Current Discount Checks
For Natural Resource Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Natural Resource Partners's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Natural Resource Partners's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Natural Resource Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Natural Resource Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:NRP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $7.29
NYSE:NRP Share Price ** NYSE (2018-11-13) in USD $33.74
United States of America Oil and Gas Industry PE Ratio Median Figure of 85 Publicly-Listed Oil and Gas Companies 13.47x
United States of America Market PE Ratio Median Figure of 2,976 Publicly-Listed Companies 18x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Natural Resource Partners.

NYSE:NRP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NRP Share Price ÷ EPS (both in USD)

= 33.74 ÷ 7.29

4.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Natural Resource Partners is good value based on earnings compared to the US Oil and Gas industry average.
  • Natural Resource Partners is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Natural Resource Partners's expected growth come at a high price?
Raw Data
NYSE:NRP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
7.1%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 63 Publicly-Listed Oil and Gas Companies 0.44x
United States of America Market PEG Ratio Median Figure of 2,095 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

NYSE:NRP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.63x ÷ 7.1%

0.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Natural Resource Partners is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Natural Resource Partners's assets?
Raw Data
NYSE:NRP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $31.23
NYSE:NRP Share Price * NYSE (2018-11-13) in USD $33.74
United States of America Oil and Gas Industry PB Ratio Median Figure of 180 Publicly-Listed Oil and Gas Companies 1.23x
United States of America Market PB Ratio Median Figure of 4,976 Publicly-Listed Companies 1.86x
NYSE:NRP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NRP Share Price ÷ Book Value per Share (both in USD)

= 33.74 ÷ 31.23

1.08x

* Primary Listing of Natural Resource Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Natural Resource Partners is good value based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Natural Resource Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Natural Resource Partners has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NRP Future Performance

 How is Natural Resource Partners expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Natural Resource Partners expected to grow at an attractive rate?
  • Natural Resource Partners's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Natural Resource Partners's earnings growth is positive but not above the United States of America market average.
  • Natural Resource Partners's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:NRP Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:NRP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 7.1%
NYSE:NRP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 1.9%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 18.6%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:NRP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:NRP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 376 156 116 1
2019-12-31 377 151 113 1
2018-12-31 388 144 115 1
NYSE:NRP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 344 154 89
2018-06-30 343 146 87
2018-03-31 334 127 77
2017-12-31 334 127 62
2017-09-30 323 106 44
2017-06-30 319 119 41
2017-03-31 345 102 71
2016-12-31 331 108 94
2016-09-30 347 125 87
2016-06-30 366 142 -251
2016-03-31 365 175 -264
2015-12-31 383 203 -248

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Natural Resource Partners's earnings are expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).
  • Natural Resource Partners's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:NRP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Natural Resource Partners Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NRP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 5.32 5.32 5.32 1.00
2019-12-31 5.18 5.18 5.18 1.00
2018-12-31 5.29 5.29 5.29 1.00
NYSE:NRP Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 7.29
2018-06-30 7.08
2018-03-31 6.30
2017-12-31 5.11
2017-09-30 3.58
2017-06-30 3.38
2017-03-31 5.82
2016-12-31 7.65
2016-09-30 7.14
2016-06-30 -20.50
2016-03-31 -21.59
2015-12-31 -20.27

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Natural Resource Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Natural Resource Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Natural Resource Partners has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NRP Past Performance

  How has Natural Resource Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Natural Resource Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Natural Resource Partners's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Natural Resource Partners's 1-year earnings growth exceeds its 5-year average (103.7% vs -12.6%)
  • Natural Resource Partners's earnings growth has not exceeded the US Oil and Gas industry average in the past year (103.7% vs 119.5%).
Earnings and Revenue History
Natural Resource Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Natural Resource Partners Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NRP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 344.40 89.21 15.34
2018-06-30 342.50 86.69 16.02
2018-03-31 334.09 77.10 15.64
2017-12-31 333.70 62.49 18.50
2017-09-30 322.66 43.79 21.16
2017-06-30 319.23 41.33 22.44
2017-03-31 345.18 71.21 23.60
2016-12-31 330.92 93.55 20.57
2016-09-30 346.62 87.36 15.87
2016-06-30 365.51 -250.79 14.97
2016-03-31 365.01 -264.11 13.15
2015-12-31 382.83 -247.94 12.35
2015-09-30 425.72 -255.33 -2.35
2015-06-30 404.54 102.26 1.32
2015-03-31 373.70 98.59 8.13
2014-12-31 308.12 98.65 10.55
2014-09-30 301.86 144.22 31.77
2014-06-30 294.45 144.18 31.17
2014-03-31 291.74 153.64 31.02
2013-12-31 323.93 168.64 14.74
2013-09-30 314.41 181.50 33.28
2013-06-30 333.99 197.06 34.20
2013-03-31 346.25 205.75 32.35
2012-12-31 363.87 209.09 29.71
2012-09-30 363.56 132.54 31.60
2012-06-30 370.42 51.63 28.90
2012-03-31 369.53 57.77 28.31
2011-12-31 363.99 52.95 29.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Natural Resource Partners has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Natural Resource Partners used its assets more efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • Natural Resource Partners's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Natural Resource Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Natural Resource Partners has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NRP Health

 How is Natural Resource Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Natural Resource Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Natural Resource Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Natural Resource Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Natural Resource Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Natural Resource Partners Company Filings, last reported 1 month ago.

NYSE:NRP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 548.35 791.72 63.39
2018-06-30 554.51 798.34 52.98
2018-03-31 528.84 804.58 21.15
2017-12-31 435.25 809.35 29.83
2017-09-30 414.22 936.58 121.24
2017-06-30 360.35 874.15 40.78
2017-03-31 317.52 970.93 112.95
2016-12-31 148.14 1,130.27 40.37
2016-09-30 149.01 1,200.58 92.39
2016-06-30 131.63 1,208.56 21.39
2016-03-31 90.28 1,321.34 52.10
2015-12-31 72.94 1,287.36 41.20
2015-09-30 100.21 1,424.61 61.16
2015-06-30 711.81 1,432.12 27.53
2015-03-31 692.34 1,459.25 33.28
2014-12-31 720.16 1,475.22 50.08
2014-09-30 622.47 1,098.48 78.13
2014-06-30 617.83 1,114.02 70.01
2014-03-31 614.63 1,126.19 54.83
2013-12-31 616.79 1,165.21 92.51
2013-09-30 632.84 1,145.06 99.68
2013-06-30 658.31 1,147.73 105.20
2013-03-31 678.83 1,147.65 76.15
2012-12-31 617.45 984.27 149.42
2012-09-30 616.83 939.27 122.42
2012-06-30 624.60 916.96 121.97
2012-03-31 634.16 898.88 107.40
2011-12-31 644.92 867.07 214.92
  • Natural Resource Partners's level of debt (144.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (181% vs 144.4% today).
  • Debt is not well covered by operating cash flow (19.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Natural Resource Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Natural Resource Partners has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NRP Dividends

 What is Natural Resource Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.33%
Current annual income from Natural Resource Partners dividends. Estimated to be 5.59% next year.
If you bought $2,000 of Natural Resource Partners shares you are expected to receive $107 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Natural Resource Partners's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.38%).
  • Natural Resource Partners's dividend is above the markets top 25% of dividend payers in United States of America (3.54%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:NRP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 60 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1978 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:NRP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 2.02 2.00
2019-12-31 1.83 2.00
2018-12-31 1.80 2.00
NYSE:NRP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-10-24 1.800 5.460
2018-07-26 1.800 5.719
2018-04-25 1.800 5.580
2018-01-25 1.800 5.944
2017-10-26 1.800 6.723
2017-07-27 1.800 7.039
2017-04-26 1.800 6.178
2017-01-27 1.800 4.827
2016-10-27 1.800 5.289
2016-07-21 1.800 7.428
2016-04-21 1.800 13.065
2016-01-21 1.800 18.780
2015-10-22 1.800 13.785
2015-07-21 3.600 13.117
2015-04-22 3.600 8.992
2015-01-20 14.000 18.224
2014-10-20 14.000 13.128
2014-07-22 14.000 9.616
2014-04-22 14.000 9.008
2014-01-09 14.000 8.870
2013-10-22 22.000 10.963
2013-07-23 22.000 11.094
2013-04-23 22.000 9.908
2013-01-22 22.000 9.697
2012-10-17 22.000 11.393
2012-07-19 22.000 10.351
2012-04-19 22.000 9.556
2012-01-18 22.000 8.655
2011-10-21 22.000 7.888
2011-07-20 21.600 7.527
2011-04-25 21.600 6.688
2011-01-19 21.600 6.112
2010-10-22 21.600 6.885
2010-07-21 21.600 8.177
2010-04-22 21.600 9.270
2010-01-21 21.600 8.537
2009-10-21 21.600 9.134
2009-07-22 21.600 10.549
2009-04-22 21.600 9.578
2009-01-21 21.400 9.684
2008-11-17 21.000 12.152

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Natural Resource Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Natural Resource Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Natural Resource Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Natural Resource Partners has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NRP Management

 What is the CEO of Natural Resource Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Corby Robertson
COMPENSATION $3,425,000
AGE 71
TENURE AS CEO 16.1 years
CEO Bio

Mr. Corbin J. Robertson, Jr., also known as Corby, serves a Managing Partner and Principal of Quintana Capital Group, L.P. Mr. Robertson has been the Chief Executive Officer and Chairman of GP Natural Resource Partners LLC, the general partner of Natural Resource Partners LP since April 2002. He serves as Managing Partner and Principal of Quintana Energy Partners, L.P. He serves as a Principal of Quintana Energy Group, L.P. He serves on the Board of Managers of Premium Resources, LLC. He has extensive experience with oil and gas investments and his board service for several companies in the oil and gas industry. Mr. Robertson has served as the Chief Executive Officer and Chairman of the Board of the General Partner of Western Pocahontas Properties Limited Partnership since 1986 until 2008. He has also served as Co-Chief Executive Officer at Great Northern Properties LP since 1992. Mr. Robertson Founded Quintana Minerals Corporation and served as its Chairman, Chief Executive Officer and President since 1978. He has been Chairman of the Board of Quintana Energy Services Inc. since April 2017. He has been the Chairman of Quintana Shipping Ltd. since October 2010. He serves as a Director of Quintana Energy Services LP. Mr. Robertson served as a Director of Bird Acquisition Corp. since January 2005. He has been a Director of GP Natural Resource Partners LLC since April 2002. He serves as a Director of Quintana Resources Capital ULC. He serves as the Chairman of the Board of the All-American Wildcatters Association, the Baylor College of Medicine, the Cullen Trust for Higher Education and the World Health and Golf Association. He serves on the Boards of the American Petroleum Institute, the National Petroleum Council and the Texas Medical Center. Mr. Robertson has served as the Chairman of the Board of Directors of New Gauley Coal Corporation since 1986. He served as the Chairman of Bird Acquisition Corp. from January 2005 to April 2008. He served as the Chairman of the Board at Great Northern Properties LP since 1992. He was the Chairman of Quintana Maritime Limited on April 15, 2008. In 2006, Mr. Robertson was inducted into the Texas Business Hall of Fame. He holds a BBA from the Business Honors Program of The University of Texas, Austin.

CEO Compensation
  • Insufficient data for Corby to compare compensation growth.
  • Corby's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Natural Resource Partners management team in years:

4.2
Average Tenure
59.5
Average Age
  • The tenure for the Natural Resource Partners management team is about average.
Management Team

Corby Robertson

TITLE
Chairman & CEO of GP Natural Resource Partners LLC
COMPENSATION
$3M
AGE
71
TENURE
16.1 yrs

Craig Nunez

TITLE
President & COO of GP Natural Resource Partners LLC
COMPENSATION
$2M
AGE
57
TENURE
1.3 yrs

Chris Zolas

TITLE
CFO & Treasurer of GP Natural Resource Partners LLC
COMPENSATION
$890K
AGE
43
TENURE
1.3 yrs

Kathryn Wilson

TITLE
VP, General Counsel & Secretary of GP Natural Resource Partners LLC
COMPENSATION
$1M
AGE
43
TENURE
4.9 yrs

Kevin Craig

TITLE
Executive Vice President of Coal - GP Natural Resource Partners LLC
COMPENSATION
$715K
AGE
50
TENURE
4.2 yrs

Jennifer Odinet

TITLE
Chief Accounting Officer of GP Natural Resource Partners LLC
AGE
40
TENURE
1.1 yrs

Kathy Roberts

TITLE
Vice President of Investor Relations of GP Natural Resource Partners LLC
AGE
66
TENURE
16.3 yrs

Gregory Wooten

TITLE
VP & Chief Engineer of GP Natural Resource Partners LLC
AGE
62
TENURE
4.9 yrs

Perry Donahoo

TITLE
Chief Executive Officer of VantaCore Partners LLC
AGE
63
TENURE
1.3 yrs

Nick Carter

TITLE
Consultant of GP Natural Resource Partners LLC
COMPENSATION
$783K
AGE
72
TENURE
4.2 yrs
Board of Directors Tenure

Average tenure and age of the Natural Resource Partners board of directors in years:

5.3
Average Tenure
58.5
Average Age
  • The tenure for the Natural Resource Partners board of directors is about average.
Board of Directors

Corby Robertson

TITLE
Chairman & CEO of GP Natural Resource Partners LLC
COMPENSATION
$3M
AGE
71
TENURE
16.1 yrs

Steve Smith

TITLE
Director
COMPENSATION
$190K
AGE
57
TENURE
14.7 yrs

Leo Vecellio

TITLE
Director of GP Natural Resource Partners LLC
COMPENSATION
$190K
AGE
71
TENURE
11.5 yrs

Rick Navarre

TITLE
Director of GP Natural Resource Partners LLC
COMPENSATION
$205K
AGE
57
TENURE
5.1 yrs

S. Morian

TITLE
Director of GP Natural Resource Partners LLC
COMPENSATION
$175K
AGE
71
TENURE
16.1 yrs

Corbin Robertson

TITLE
Director of GP Natural Resource Partners LLC
COMPENSATION
$60K
AGE
47
TENURE
5.5 yrs

Russell Gordy

TITLE
Director of GP Natural Resource Partners LLC
COMPENSATION
$180K
AGE
67
TENURE
5.1 yrs

Jas Khaira

TITLE
Director of GP Natural Resource Partners LLC
AGE
36
TENURE
1.7 yrs

Galdino Claro

TITLE
Directors of GP Natural Resource Partners LLC
AGE
59
TENURE
0.7 yrs

Paul Murphy

TITLE
Director of GP Natural Resource Partners LLC
AGE
58
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Max Price ($) Value ($)
11. Jun 18 Buy Paul Murphy Individual 05. Jun 18 07. Jun 18 3,500 $32.50 $113,100.00
X
Management checks
We assess Natural Resource Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Natural Resource Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NRP News

External News
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Simply Wall St News

Should You Be Tempted To Buy Natural Resource Partners LP (NYSE:NRP) Because Of Its PE Ratio?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Natural Resource Partners LP (NYSE:NRP) is currently trading at a trailing P/E of 4.2, which is lower than the industry average of 12.4. … Check out our latest analysis for Natural Resource Partners

Simply Wall St -

Is Natural Resource Partners LP's (NYSE:NRP) ROE Of 20.65% Sustainable?

and want to better understand how you can grow your money by investing in Natural Resource Partners LP (NYSE:NRP). … Natural Resource Partners LP (NYSE:NRP) outperformed the coal and consumable fuels industry on the basis of its ROE – producing a higher 20.65% relative to the peer average of 11.31% over the past 12 months. … With more debt, NRP can invest even more and earn more money, thus pushing up its returns.

Simply Wall St -

Is Natural Resource Partners LP (NYSE:NRP) A Great Dividend Stock?

Natural Resource Partners LP (NYSE:NRP) has returned to shareholders over the past 10 years, an average dividend yield of 9.00% annually. … Let's take a look at Natural Resource Partners in more detail. … See our latest analysis for Natural Resource Partners

Simply Wall St -

Was Natural Resource Partners LP.'s (NYSE:NRP) Earnings Growth Better Than The Industry's?

When Natural Resource Partners LP.'s (NYSE:NRP) announced its latest earnings (31 March 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Natural Resource Partners's average earnings over the past couple of years, and its industry performance. … Check out our latest analysis for Natural Resource Partners Did NRP's recent earnings growth beat the long-term trend and the industry?

Simply Wall St -

May Top Undervalued Energy Companies

Undervalued energy companies, such as Natural Resource Partners and Global Partners, trade at a price less than their true values. … Also, NRP’s PE ratio is currently around 5.08x while its Oil and Gas peer level trades at, 14.14x suggesting that relative to other stocks in the industry, NRP’s shares can be purchased for a lower price. … NYSE:GLP PE PEG Gauge May 15th 18 KNOT Offshore Partners LP (NYSE:KNOP) KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil.

Simply Wall St -

Investors' Favorite Energy Dividend Stocks

NYSE:NRP Historical Dividend Yield May 1st 18 Rice Midstream Partners LP (NYSE:RMP) RMP has a large dividend yield of 6.64% and is distributing 64.24% of earnings as dividends , with the expected payout in three years hitting 80.32%. … Plus, a 6.64% yield places it amidst the market’s top dividend payers. … NYSE:RMP Historical Dividend Yield May 1st 18 BP Midstream Partners LP (NYSE:BPMP) BPMP has a sumptuous dividend yield of 5.64% and distributes 86.47% of its earnings to shareholders as dividends , with the expected payout in three years being 86.76%.

Simply Wall St -

Is Buying Natural Resource Partners LP. (NYSE:NRP) For Its Upcoming $0.45 Dividend A Good Choice?

Check out our latest analysis for Natural Resource Partners 5 checks you should do on a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is their annual yield among the top 25% of dividend payers? … NYSE:NRP Historical Dividend Yield Apr 30th 18 How well does Natural Resource Partners fit our criteria? … Next Steps: With this in mind, I definitely rank Natural Resource Partners as a strong dividend stock, and makes it worth further research for anyone who likes steady income generation from their portfolio.

Simply Wall St -

Best NYSE Energy Dividend Payers

NYSE:NRP Historical Dividend Yield Mar 27th 18 BP Midstream Partners LP (NYSE:BPMP) BPMP has an alluring dividend yield of 6.08% and their current payout ratio is 86.47% , with analysts expecting this ratio to be 89.89% in the next three years. … NYSE:BPMP Historical Dividend Yield Mar 27th 18 Rice Midstream Partners LP (NYSE:RMP) RMP has a enticing dividend yield of 6.42% and is paying out 66.41% of profits as dividends , with analysts expecting a 86.71% payout in three years. … NYSE:RMP Historical Dividend Yield Mar 27th 18 For more solid dividend paying companies to add to your portfolio, explore this interactive list of top dividend payers.

Simply Wall St -

What is Behind Natural Resource Partners LP.'s (NYSE:NRP) Superior ROE?

Check out our latest analysis for Natural Resource Partners What you must know about ROE Return on Equity (ROE) is a measure of Natural Resource Partners’s profit relative to its shareholders’ equity. … For now, let’s just look at the cost of equity number for Natural Resource Partners, which is 17.53%. … Since Natural Resource Partners’s return does not cover its cost, with a difference of -2.50%, this means its current use of equity is not efficient and not sustainable.

Simply Wall St -

Best-In-Class Energy Dividend Stocks

NYSE:NRP Historical Dividend Yield Feb 20th 18 Rice Midstream Partners LP (NYSE:RMP) RMP has a great dividend yield of 5.63% and is distributing 67.06% of earnings as dividends , with analysts expecting this ratio in three years to be 89.66%. … NYSE:RMP Historical Dividend Yield Feb 20th 18 TC PipeLines, LP (NYSE:TCP) TCP has a juicy dividend yield of 7.93% and is paying out 125.78% of profits as dividends. … NYSE:TCP Historical Dividend Yield Feb 20th 18 For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.

Simply Wall St -

NRP Company Info

Map
Description

Natural Resource Partners L.P., through its subsidiaries, owns, operates, manages, and leases mineral properties in the United States. The company operates through three segments: Coal Royalty and Other; Soda Ash; and Construction Aggregates. It owns interests in coal, trona and soda ash, construction aggregates, and other natural resources. The company’s coal reserves are primarily located in Appalachia, the Illinois Basin, and the Western United States; aggregates and industrial minerals are located in Pennsylvania, West Virginia, Tennessee, Kentucky, and Louisiana; oil and gas royalty assets located in Louisiana; and trona ore mining operation and soda ash refinery located in the Green River Basin, Wyoming. It also operates four limestone quarries, one underground limestone mine, five sand and gravel plants, two asphalt plants, and two marine terminals. The company leases coal reserves, and aggregates and industrial minerals reserves in exchange for royalty payments; and owns transportation and processing infrastructure related to coal properties. NRP (GP) LP serves as the general partner of the company. Natural Resource Partners L.P. was founded in 2002 and is headquartered in Houston, Texas.

Details
Name: Natural Resource Partners L.P.
NRP
Exchange: NYSE
Founded: 2002
$413,177,340
12,245,920
Website: http://www.nrplp.com
Address: Natural Resource Partners L.P.
1201 Louisiana Street,
Suite 3400,
Houston,
Texas, 77002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NRP Common Units New York Stock Exchange US USD 11. Oct 2002
DB NRZ1 Common Units Deutsche Boerse AG DE EUR 11. Oct 2002
LSE 0S32 Common Units London Stock Exchange GB USD 11. Oct 2002
Number of employees
Current staff
Staff numbers
243
Natural Resource Partners employees.
Industry
Coal and Consumable Fuels
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/14 21:34
End of day share price update: 2018/11/13 00:00
Last estimates confirmation: 2018/11/12
Last earnings filing: 2018/11/09
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.