Zacks Investment Research downgraded shares of North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “NORTH AMERICAN ENERGY PARTNERS INC. is one of the largest providers of heavy construction, mining, piling and pipeline services in Western Canada. For more than fifty years, NAEP has provided services to large oil, natural gas and resource companies, with a principal focus on the Canadian oil sands. The Company maintains one of the largest independently owned equipment fleets in the region. “
A number of other brokerages have also issued reports on NOA. Canaccord Genuity restated a buy rating and set a $9.00 target price on shares of North American Energy Partners in a research report on Tuesday, May 2nd. National Bank Financial reissued an outperform rating on shares of North American Energy Partners in a report on Wednesday, May 3rd. Four analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average price target of $6.88.
North American Energy Partners (NYSE NOA) remained flat at $4.25 during midday trading on Wednesday. The stock had a trading volume of 6,377 shares. The firm’s 50-day moving average is $4.51 and its 200-day moving average is $4.66. The firm has a market capitalization of $117.02 million, a price-to-earnings ratio of 56.67 and a beta of 0.64. North American Energy Partners has a 12 month low of $2.34 and a 12 month high of $5.70.
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The business also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Wednesday, May 31st were given a dividend of $0.0147 per share. This represents a $0.06 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, May 26th. North American Energy Partners’s dividend payout ratio (DPR) is presently 100.00%.
Several institutional investors have recently made changes to their positions in NOA. Tower Research Capital LLC TRC purchased a new stake in shares of North American Energy Partners during the first quarter valued at $104,000. Renaissance Technologies LLC increased its stake in shares of North American Energy Partners by 45.7% in the first quarter. Renaissance Technologies LLC now owns 1,068,300 shares of the oil and gas company’s stock valued at $5,288,000 after buying an additional 335,040 shares in the last quarter. Morgan Stanley increased its stake in shares of North American Energy Partners by 147.8% in the first quarter. Morgan Stanley now owns 850,366 shares of the oil and gas company’s stock valued at $4,210,000 after buying an additional 507,267 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of North American Energy Partners by 82.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 60,592 shares of the oil and gas company’s stock valued at $300,000 after buying an additional 27,292 shares in the last quarter. Finally, Spark Investment Management LLC acquired a new stake in shares of North American Energy Partners during the first quarter valued at about $1,880,000. 47.71% of the stock is currently owned by institutional investors.
North American Energy Partners Company Profile
North American Energy Partners Inc provides a range of mining and heavy construction services to customers in the resource development and industrial construction sectors within Western Canada. The Company’s operating divisions include Heavy Construction and Mining; Industrial, and Tailings & Environmental Construction.
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