NGP Resources tumbles post-earnings

|By:, SA News Editor

NGP Capital Resources (NGPC -8.1%) is punished after reporting NII of $1.9M or $0.09 per share vs. $2.2M and $0.11 in Q4, and the quarterly dividend of $0.16. Net asset value per share declines to $8.73 from $9.20.

New portfolio investments were sparse - just $1.1M worth as the company explores strategic alternatives. CEO Stephen Gardner on the earnings call (transcript): "The process is taking longer than many of us expected and it is still ongoing ... There can be no assurance that we will enter into a transaction in the future."