Moody Aldrich Partners LLC purchased a new position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,137 shares of the energy company’s stock, valued at approximately $248,000.
A number of other hedge funds have also recently modified their holdings of ARLP. Whittier Trust Co. purchased a new stake in Alliance Resource Partners in the third quarter worth $146,000. Intrust Bank NA grew its stake in Alliance Resource Partners by 36.1% in the second quarter. Intrust Bank NA now owns 14,438 shares of the energy company’s stock worth $265,000 after purchasing an additional 3,831 shares during the period. Commonwealth Equity Services LLC grew its stake in Alliance Resource Partners by 29.0% in the second quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock worth $302,000 after purchasing an additional 3,708 shares during the period. Texas Yale Capital Corp. purchased a new stake in Alliance Resource Partners in the second quarter worth $471,000. Finally, Alps Advisors Inc. purchased a new stake in Alliance Resource Partners in the third quarter worth $506,000. 29.16% of the stock is currently owned by institutional investors.
In related news, Director Nick Carter bought 2,219 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were purchased at an average cost of $19.85 per share, with a total value of $44,047.15. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $397,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 44.03% of the company’s stock.
ARLP has been the topic of several recent research reports. Zacks Investment Research raised Alliance Resource Partners from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research note on Monday, October 15th. ValuEngine raised Alliance Resource Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. TheStreet raised Alliance Resource Partners from a “c+” rating to a “b” rating in a research note on Monday, October 29th. Finally, BidaskClub raised Alliance Resource Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.40.
NASDAQ ARLP opened at $19.33 on Friday. Alliance Resource Partners, L.P. has a 12 month low of $15.55 and a 12 month high of $21.90. The firm has a market capitalization of $2.54 billion, a PE ratio of 8.44 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.15.
Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, October 29th. The energy company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.20). Alliance Resource Partners had a return on equity of 25.50% and a net margin of 19.96%. The company had revenue of $497.80 million during the quarter, compared to analysts’ expectations of $506.23 million. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Alliance Resource Partners, L.P. will post 2.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.86%. Alliance Resource Partners’s dividend payout ratio is currently 72.47%.
Alliance Resource Partners Profile
Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.
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