Brigham Minerals, Inc. (NYSE:MNRL) Forecasted to Post Q3 2022 Earnings of $0.74 Per Share

Brigham Minerals, Inc. (NYSE:MNRLGet Rating) – Equities research analysts at KeyCorp issued their Q3 2022 EPS estimates for Brigham Minerals in a report released on Monday, September 19th. KeyCorp analyst T. Rezvan anticipates that the company will earn $0.74 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Brigham Minerals’ current full-year earnings is $2.74 per share. KeyCorp also issued estimates for Brigham Minerals’ Q4 2022 earnings at $0.75 EPS, FY2022 earnings at $2.79 EPS, Q1 2023 earnings at $0.75 EPS, Q2 2023 earnings at $0.67 EPS, Q3 2023 earnings at $0.67 EPS, Q4 2023 earnings at $0.70 EPS and FY2023 earnings at $2.61 EPS.

Brigham Minerals (NYSE:MNRLGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.69 by $0.09. The company had revenue of $90.88 million for the quarter, compared to analyst estimates of $81.38 million. Brigham Minerals had a net margin of 41.17% and a return on equity of 14.52%. The firm’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share.

Other equities analysts have also issued reports about the stock. Barclays lowered their target price on shares of Brigham Minerals from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. Raymond James raised their target price on shares of Brigham Minerals from $41.00 to $49.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 30th. Finally, Piper Sandler lowered their target price on shares of Brigham Minerals from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Brigham Minerals Stock Performance

Shares of Brigham Minerals stock opened at $26.18 on Thursday. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.58 billion, a P/E ratio of 12.71 and a beta of 1.80. The firm’s 50 day moving average is $27.46 and its two-hundred day moving average is $26.96. Brigham Minerals has a 52 week low of $19.08 and a 52 week high of $33.64.

Brigham Minerals Increases Dividend

The business also recently declared a None dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 19th were issued a dividend of $0.77 per share. The ex-dividend date was Thursday, August 18th. This is an increase from Brigham Minerals’s previous None dividend of $0.60. This represents a dividend yield of 2.2%. Brigham Minerals’s dividend payout ratio (DPR) is currently 31.07%.

Institutional Investors Weigh In On Brigham Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. lifted its holdings in Brigham Minerals by 654.9% in the second quarter. Federated Hermes Inc. now owns 338,922 shares of the company’s stock valued at $8,348,000 after acquiring an additional 294,025 shares during the period. Verition Fund Management LLC acquired a new stake in Brigham Minerals in the second quarter valued at $231,000. Legal & General Group Plc lifted its holdings in Brigham Minerals by 13.2% in the second quarter. Legal & General Group Plc now owns 17,842 shares of the company’s stock valued at $439,000 after acquiring an additional 2,084 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Brigham Minerals in the second quarter valued at $1,672,000. Finally, Captrust Financial Advisors lifted its holdings in Brigham Minerals by 61.3% in the second quarter. Captrust Financial Advisors now owns 1,360 shares of the company’s stock valued at $33,000 after acquiring an additional 517 shares during the period. Institutional investors and hedge funds own 78.20% 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.

Further Reading

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

Receive News & Ratings for Brigham Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brigham Minerals and related companies with MarketBeat.com's FREE daily email newsletter.