Natural Resource Partners (NRP) Hits 52-Week Low on April 22

Mayur Sontakke, FRM
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Movers and Shakers in Utilities, Coal, and Solar on April 22 (Part 3 of 4)

(Continued from Part 2)

Coal ETF rebounds

After dropping 1.3% on April 21, the Market Vectors Coal ETF (KOL), the representative of the global coal industry, gained 0.6% on April 22. Stocks of US coal producers account for around 33% of the ETF’s total holdings. The broad based SPDR S&P 500 (SPY) gained 0.5%.

Top gainers

  • Arch Coal (ACI) rebounded 2% to $1.02 after losing 5.7% on April 21 with a market capitalization of $216.9 million.

  • Consol Energy (CNX) gained 1.8% to $30.02 with a market capitalization of $6.9 billion.

  • Peabody Energy (BTU) gained 1.2% to end at $4.87 with a market capitalization of $1.4 billion.

  • Cloud Peak Energy (CLD) gained 1.2% to end at $6.0 with a market capitalization of $366.2 million.

Top losers

  • Natural Resource Partners (NRP), a coal MLP, dropped 19.9% on April 22 to end at $5.54. The drop came in after the company’s announcement of cutting quarterly distributions. The company lowered its quarterly dividend to $0.09 a share from $0.35 a share to strengthen its balance sheet and improve its liquidity position. Coal producers are undertaking various measures to sail through the difficult time.

  • Westmoreland Coal Company (WLB) dropped 1.9% to $27.70 with a market capitalization of $496 million.

  • Walter Energy (WLT) dropped 1.6% to end at $0.57 after being the only gainer in the industry the previous day.

  • Alpha Natural Resources (ANR) lost 1.1% to end at $0.84.

Continue to Part 4

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