North American Energy Partners, Inc. (NOA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

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. “

Shares of North American Energy Partners (NOA) opened at 4.20 on Wednesday. The company has a market capitalization of $112.80 million, a PE ratio of 107.69 and a beta of 0.67. The company’s 50-day moving average is $4.04 and its 200-day moving average is $4.47. North American Energy Partners has a one year low of $2.43 and a one year high of $5.70.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Thursday, August 31st will be paid a dividend of $0.016 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.52%. This is an increase from North American Energy Partners’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Tuesday, August 29th. North American Energy Partners’s payout ratio is 600.00%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of North American Energy Partners by 5.9% during the second quarter. Royal Bank of Canada now owns 59,904 shares of the oil and gas company’s stock worth $264,000 after buying an additional 3,311 shares during the last quarter. Intact Investment Management Inc. raised its stake in shares of North American Energy Partners by 2.9% during the second quarter. Intact Investment Management Inc. now owns 419,300 shares of the oil and gas company’s stock worth $2,344,000 after buying an additional 11,700 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of North American Energy Partners by 42.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,048 shares of the oil and gas company’s stock worth $193,000 after buying an additional 11,717 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of North American Energy Partners during the first quarter worth approximately $104,000. Finally, Russell Investments Group Ltd. raised its stake in shares of North American Energy Partners by 144.7% during the first quarter. Russell Investments Group Ltd. now owns 35,687 shares of the oil and gas company’s stock worth $177,000 after buying an additional 21,101 shares during the last quarter. 39.52% of the stock is owned by institutional investors and hedge funds.

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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