Ninepoint Partners LP Acquires New Shares in Baytex Energy Corp $BTE

Ninepoint Partners LP bought a new position in shares of Baytex Energy Corp (NYSE:BTE) (TSE:BTE) during the second quarter, HoldingsChannel.com reports. The firm bought 17,000,000 shares of the oil and gas producer’s stock, valued at approximately $68,000,000. Baytex Energy makes up about 5.2% of Ninepoint Partners LP’s portfolio, making the stock its 5th biggest position.

Several other institutional investors also recently modified their holdings of BTE. BlackRock Inc. acquired a new position in Baytex Energy during the second quarter valued at approximately $569,000. Deutsche Bank AG bought a new position in shares of Baytex Energy during the second quarter worth about $197,000. Alberta Investment Management Corp acquired a new stake in shares of Baytex Energy in the second quarter valued at approximately $703,000. Bank of New York Mellon Corp acquired a new stake in Baytex Energy in the 2nd quarter valued at $60,000. Finally, State of Wyoming acquired a new stake in shares of Baytex Energy in the second quarter valued at about $175,000. 46.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BTE has been the topic of several analyst reports. TD Securities reaffirmed a “hold” rating on shares of Baytex Energy in a research report on Monday, August 3rd. Royal Bank Of Canada restated a “sector perform” rating on shares of Baytex Energy in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Baytex Energy in a research report on Friday, July 10th. Weiss Ratings raised Baytex Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Zacks Research lowered shares of Baytex Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Baytex Energy Stock Up 1.9%

BTE stock opened at $4.82 on Friday. The firm has a 50-day moving average price of $4.21 and a 200-day moving average price of $4.29. Baytex Energy Corp has a 12 month low of $1.94 and a 12 month high of $5.36. The company has a current ratio of 2.82, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.37 billion, a P/E ratio of -7.19 and a beta of 0.39.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.09. The company had revenue of $449.32 million for the quarter, compared to analyst estimates of $218.10 million. Baytex Energy had a negative net margin of 26.43% and a negative return on equity of 7.77%. As a group, equities research analysts anticipate that Baytex Energy Corp will post 0.25 EPS for the current fiscal year.

Baytex Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Baytex Energy’s dividend payout ratio is presently -10.45%.

Baytex Energy Profile

Baytex Energy Corp. is an oil & gas exploration and production company. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company was founded on June 3, 1993 and is headquartered in Calgary, Canada.