This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

NGP Capital Resources Company Announces First Quarter Financial Results And Portfolio Activity

HOUSTON, May 7, 2014 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (Nasdaq:NGPC) (the "Company") today announced its financial results for the first quarter of 2014.

Highlights for the quarter ended March 31, 2014 : Operating Results: Total investment income: $5.9 million Net investment income: $1.9 million, or $0.09 per share Net realized loss on investments: $9.6 million, or $0.47 per share Net unrealized appreciation on investments: $1.3 million, or $0.06 per share Net asset value: $178.9 million, or $8.73 per share Quarterly dividends declared: $0.16 per share

Portfolio and investment activity: New investments in portfolio securities during the quarter: $1.1 million Redemption of portfolio securities during the quarter: $1.3 million Fair value of portfolio investments at March 31, 2014: $203.4 million Weighted average yield on portfolio investments: 10.4% Number of portfolio companies at March 31, 2014: 15

Portfolio and Investment Activity

During the first quarter of 2014, we invested $1.1 million with existing portfolio companies and received proceeds from redemption and repayments of portfolio securities totaling $1.3 million.

In April 2014, we sold our $13.0 million face amount of Midstates Petroleum Company ("Midstates") 10.75% Senior Subordinated Notes at an average price of 108.1, resulting in a capital gain of $0.7 million, or $0.03 per common share. Our investment in the Midstates Senior Subordinated Notes, which originated in October 2012, generated an internal rate of return of 15.2% with a return on investment of 1.2x.

In January 2014, we accepted a third party bid to purchase our GMX Resources, Inc. ("GMX") Senior Secured Second-Priority Notes due 2018 ("the GMX Notes") for $70,000. This transaction resulted in a realized capital loss of $9.4 million, or $0.47 per share, which was entirely offset by the reversal of previously recognized unrealized depreciation on this investment. GMX's bankruptcy filing in 2013 severely impacted our investment, which generated an internal rate of return of -21.2% and a return on investment of 0.5x.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,686.50 -32.04 -0.18%
S&P 500 2,057.86 -3.19 -0.15%
NASDAQ 4,865.28 -11.2390 -0.23%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs