NGP Capital Resources Company (NGPC, Financial) filed Quarterly Report for the period ended 2010-06-30.
Ngp Capital Resources Company has a market cap of $164.16 million; its shares were traded at around $7.59 with a P/E ratio of 36.14 and P/S ratio of 6.69. The dividend yield of Ngp Capital Resources Company stocks is 8.96%.NGPC is in the portfolios of Chuck Royce of Royce& Associates.
For the six months ended June 30, 2010, investment income decreased by $2.8 million, or 20.2%, to $11.2 million from $14.1 million for the same period in 2009. For the six months ended June 30, 2010, we recorded $10.0 million attributable to targeted investments in portfolio companies, a $0.2 million net loss attributable to royalty income net of amortization and $1.4 million from corporate notes, investments in cash and cash equivalents and fee income from third parties and affiliates. This compares to $12.1 million attributable to targeted investments in portfolio companies, $5.1 million attributable to income from commodity derivative instruments, a $3.7 million net loss attributable to royalty income net of amortization and $0.6 million from corporate notes, investments in cash and cash equivalents and fee income from third parties and affiliates for the six months ended June 30, 2009.
For the six months ended June 30, 2010, operating expenses were $6.0 million compared to $8.0 million for the six months ended June 30, 2009. The 2010 amount consisted of investment advisory and management and incentive fees of $2.8 million, insurance expenses, administrative services fees, professional fees, directors fees and other general and administrative expenses of $2.6 million and credit facility interest expense and fees of $0.6 million. This compares to investment advisory and management and incentive fees of $3.5 million, insurance expenses, administrative services fees, professional fees, directors fees and other general and administrative expenses of $2.4 million and credit facility interest expense and fees of $2.1 million for the six months ended June 30, 2009. Overall lower portfolio balances in 2010 resulted in lower investment advisory and management fees, and lowered levels of borrowings reduced our credit facility interest expense and fees.
For the six months ended June 30, 2010, the increase in net unrealized appreciation before income tax provision of $0.6 million was $3.8 million, comprised of an increase in targeted portfolio fair value of $3.3 million and a $0.5 million increase in the fair value of our corporate notes. By comparison, for the six months ended June 30, 2009, the increase in net unrealized depreciation before income tax benefit of $1.6 million was $29.0 million, comprised of a decrease in targeted portfolio fair value of $24.2 million and a $6.3 million decrease in the fair value of commodity derivative instruments, offset by a $1.5 million increase in the fair value of our corporate notes.
For the quarter ended June 30, 2010, we had a net increase in stockholders equity (net assets) resulting from operations of $3.9 million, or $0.18 per share, compared to a net decrease of $2.6 million, or $0.12 per share decrease for the quarter ended June 30, 2009. The $6.5 million or $0.30 per share net increase is attributable to the $1.7 million increase in net investment income after income taxes and the $4.8 million increase in unrealized appreciation on our investments during the second quarter of 2010, compared to the second quarter of 2009.
For the six months ended June 30, 2010, the net increase in stockholders equity (net assets) resulting from operations was $8.9 million, or $0.42 per share, compared to an decrease of $21.2 million, or $0.98 per share decrease, for the six months ended June 30, 2009. The $30.1 million or $1.40 per share net increase is attributable to the $27.3 million increase in unrealized depreciation recorded on our investments during the six months ended June 30, 2009, compared to $3.2 million in unrealized appreciation recorded on our investments during the six months ended June 30, 2010.
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Ngp Capital Resources Company has a market cap of $164.16 million; its shares were traded at around $7.59 with a P/E ratio of 36.14 and P/S ratio of 6.69. The dividend yield of Ngp Capital Resources Company stocks is 8.96%.NGPC is in the portfolios of Chuck Royce of Royce& Associates.
Highlight of Business Operations:
Investment income for the quarter ended June 30, 2010 was $6.0 million, primarily attributable to $5.2 million in interest from targeted investments in ten portfolio companies and to $0.8 million from corporate notes, investments in cash and cash equivalents and fee income from third parties and affiliates. This compares to investment income for the quarter ended June 30, 2009 of $5.5 million, with $6.2 million attributable to interest from targeted investments in eleven portfolio companies, $1.9 million attributable to income from commodity derivative instruments, a $2.8 million net loss attributable to royalty income net of amortization, and $0.2 million from corporate notes, investments in cash and cash equivalents and fee income from third parties and affiliates.For the six months ended June 30, 2010, investment income decreased by $2.8 million, or 20.2%, to $11.2 million from $14.1 million for the same period in 2009. For the six months ended June 30, 2010, we recorded $10.0 million attributable to targeted investments in portfolio companies, a $0.2 million net loss attributable to royalty income net of amortization and $1.4 million from corporate notes, investments in cash and cash equivalents and fee income from third parties and affiliates. This compares to $12.1 million attributable to targeted investments in portfolio companies, $5.1 million attributable to income from commodity derivative instruments, a $3.7 million net loss attributable to royalty income net of amortization and $0.6 million from corporate notes, investments in cash and cash equivalents and fee income from third parties and affiliates for the six months ended June 30, 2009.
For the six months ended June 30, 2010, operating expenses were $6.0 million compared to $8.0 million for the six months ended June 30, 2009. The 2010 amount consisted of investment advisory and management and incentive fees of $2.8 million, insurance expenses, administrative services fees, professional fees, directors fees and other general and administrative expenses of $2.6 million and credit facility interest expense and fees of $0.6 million. This compares to investment advisory and management and incentive fees of $3.5 million, insurance expenses, administrative services fees, professional fees, directors fees and other general and administrative expenses of $2.4 million and credit facility interest expense and fees of $2.1 million for the six months ended June 30, 2009. Overall lower portfolio balances in 2010 resulted in lower investment advisory and management fees, and lowered levels of borrowings reduced our credit facility interest expense and fees.
For the six months ended June 30, 2010, the increase in net unrealized appreciation before income tax provision of $0.6 million was $3.8 million, comprised of an increase in targeted portfolio fair value of $3.3 million and a $0.5 million increase in the fair value of our corporate notes. By comparison, for the six months ended June 30, 2009, the increase in net unrealized depreciation before income tax benefit of $1.6 million was $29.0 million, comprised of a decrease in targeted portfolio fair value of $24.2 million and a $6.3 million decrease in the fair value of commodity derivative instruments, offset by a $1.5 million increase in the fair value of our corporate notes.
For the quarter ended June 30, 2010, we had a net increase in stockholders equity (net assets) resulting from operations of $3.9 million, or $0.18 per share, compared to a net decrease of $2.6 million, or $0.12 per share decrease for the quarter ended June 30, 2009. The $6.5 million or $0.30 per share net increase is attributable to the $1.7 million increase in net investment income after income taxes and the $4.8 million increase in unrealized appreciation on our investments during the second quarter of 2010, compared to the second quarter of 2009.
For the six months ended June 30, 2010, the net increase in stockholders equity (net assets) resulting from operations was $8.9 million, or $0.42 per share, compared to an decrease of $21.2 million, or $0.98 per share decrease, for the six months ended June 30, 2009. The $30.1 million or $1.40 per share net increase is attributable to the $27.3 million increase in unrealized depreciation recorded on our investments during the six months ended June 30, 2009, compared to $3.2 million in unrealized appreciation recorded on our investments during the six months ended June 30, 2010.
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