Fintel reports that on June 30, 2023, Citigroup reiterated coverage of Kimbell Royalty Partners LP - Units (NYSE:KRP) with a Buy recommendation.
Analyst Price Forecast Suggests 53.25% Upside
As of June 2, 2023, the average one-year price target for Kimbell Royalty Partners LP - Units is 21.93. The forecasts range from a low of 19.19 to a high of $25.20. The average price target represents an increase of 53.25% from its latest reported closing price of 14.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kimbell Royalty Partners LP - Units is 266MM, a decrease of 3.96%. The projected annual non-GAAP EPS is 1.55.
Kimbell Royalty Partners LP - Units Declares $0.35 Dividend
On May 3, 2023 the company declared a regular quarterly dividend of $0.35 per share ($1.40 annualized). Shareholders of record as of May 15, 2023 received the payment on May 22, 2023. Previously, the company paid $0.48 per share.
At the current share price of $14.31 / share, the stock's dividend yield is 9.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 11.62%, the lowest has been 4.39%, and the highest has been 40.41%. The standard deviation of yields is 5.71 (n=236).
The current dividend yield is 0.32 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.02. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.28%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 188 funds or institutions reporting positions in Kimbell Royalty Partners LP - Units. This is a decrease of 15 owner(s) or 7.39% in the last quarter. Average portfolio weight of all funds dedicated to KRP is 0.56%, an increase of 2.71%. Total shares owned by institutions decreased in the last three months by 1.23% to 26,898K shares. 
The put/call ratio of KRP is 0.34, indicating a bullish outlook.
What are Other Shareholders Doing?
EnCap Energy Capital Fund VIII holds 4,542K shares representing 6.93% ownership of the company. No change in the last quarter.
Mill Road Capital Management holds 1,551K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 1,340K shares, representing an increase of 13.63%. The firm decreased its portfolio allocation in KRP by 0.55% over the last quarter.
Epoch Investment Partners holds 1,479K shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 1,327K shares, representing an increase of 10.25%. The firm decreased its portfolio allocation in KRP by 8.94% over the last quarter.
Mirae Asset Global Investments Co. holds 1,374K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 266K shares, representing an increase of 80.66%. The firm increased its portfolio allocation in KRP by 80.68% over the last quarter.
Macquarie Group holds 1,107K shares representing 1.69% ownership of the company. In it's prior filing, the firm reported owning 1,180K shares, representing a decrease of 6.58%. The firm decreased its portfolio allocation in KRP by 28.91% over the last quarter.
Kimbell Royalty Partners Background Information
(This description is provided by the company.)
Kimbell is a leading oil and natural gas mineral and royalty company based in Fort Worth, Texas. Kimbell owns mineral and royalty interests in over 13 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 97,000 gross wells with over 41,000 wells in the Permian Basin.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
