Ninepoint Partners LP acquired a new stake in Hi-Crush Partners LP (NYSE:HCLP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,600,000 shares of the basic materials company’s stock, valued at approximately $15,200,000. Hi-Crush Partners accounts for 1.1% of Ninepoint Partners LP’s investment portfolio, making the stock its 21st biggest position. Ninepoint Partners LP owned about 1.76% of Hi-Crush Partners as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of HCLP. ING Groep NV increased its stake in shares of Hi-Crush Partners by 653.7% during the second quarter. ING Groep NV now owns 1,390,552 shares of the basic materials company’s stock worth $15,087,000 after acquiring an additional 1,206,058 shares during the period. SG Capital Management LLC acquired a new position in shares of Hi-Crush Partners during the second quarter worth about $6,630,000. Atlantic Trust Group LLC acquired a new position in shares of Hi-Crush Partners during the second quarter worth about $6,227,000. Clear Harbor Asset Management LLC acquired a new position in shares of Hi-Crush Partners during the second quarter worth about $4,368,000. Finally, HITE Hedge Asset Management LLC increased its stake in shares of Hi-Crush Partners by 187.2% during the second quarter. HITE Hedge Asset Management LLC now owns 587,625 shares of the basic materials company’s stock worth $6,376,000 after acquiring an additional 383,044 shares during the period. Institutional investors own 49.69% of the company’s stock.
HCLP has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Hi-Crush Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Jefferies Group LLC set a $15.00 price target on shares of Hi-Crush Partners and gave the stock a “buy” rating in a research note on Monday, August 28th. Cowen and Company reissued a “buy” rating and set a $12.00 price objective on shares of Hi-Crush Partners in a report on Sunday, September 17th. UBS AG decreased their price objective on shares of Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Finally, Piper Jaffray Companies set a $12.00 price objective on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.60.
Shares of Hi-Crush Partners LP (HCLP) traded down $0.45 during midday trading on Thursday, hitting $9.25. 2,207,200 shares of the company’s stock traded hands, compared to its average volume of 1,863,091. Hi-Crush Partners LP has a 12 month low of $7.25 and a 12 month high of $23.30. The stock has a market capitalization of $853.41, a P/E ratio of 30.31 and a beta of 1.02. The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.
Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The business had revenue of $167.58 million during the quarter, compared to analysts’ expectations of $168.95 million. During the same period last year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 259.9% on a year-over-year basis. equities research analysts expect that Hi-Crush Partners LP will post 0.97 earnings per share for the current fiscal year.
Hi-Crush Partners announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 17th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.49%. The ex-dividend date was Monday, October 30th. Hi-Crush Partners’s dividend payout ratio (DPR) is presently 187.50%.
Hi-Crush Partners Profile
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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