Custom Index Systems LLC Reduces Stock Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Custom Index Systems LLC reduced its stake in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,176 shares of the energy company’s stock after selling 1,291 shares during the period. Alliance Resource Partners makes up about 0.9% of Custom Index Systems LLC’s holdings, making the stock its 26th largest holding. Custom Index Systems LLC owned 0.05% of Alliance Resource Partners worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ARLP. Magnolia Group LLC increased its holdings in Alliance Resource Partners by 7.1% during the 1st quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock worth $69,050,000 after acquiring an additional 229,700 shares during the period. Progeny 3 Inc. increased its holdings in shares of Alliance Resource Partners by 5.1% in the first quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock worth $54,778,000 after purchasing an additional 132,630 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Alliance Resource Partners in the first quarter worth $23,567,000. Goldman Sachs Group Inc. boosted its stake in Alliance Resource Partners by 0.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 858,939 shares of the energy company’s stock valued at $18,192,000 after buying an additional 7,870 shares during the period. Finally, ING Groep NV grew its position in Alliance Resource Partners by 62.9% during the fourth quarter. ING Groep NV now owns 684,000 shares of the energy company’s stock worth $14,487,000 after buying an additional 264,000 shares in the last quarter. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Benchmark increased their price target on shares of Alliance Resource Partners from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th.

Alliance Resource Partners Price Performance

Shares of Alliance Resource Partners stock opened at $22.97 on Friday. The business has a 50 day moving average of $24.26 and a 200 day moving average of $22.62. Alliance Resource Partners, L.P. has a 52 week low of $18.32 and a 52 week high of $26.21. The company has a market cap of $2.94 billion, a PE ratio of 5.03 and a beta of 1.13. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, July 29th. The energy company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.16). Alliance Resource Partners had a net margin of 21.04% and a return on equity of 27.54%. The company had revenue of $593.35 million for the quarter, compared to analysts’ expectations of $624.72 million. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, equities research analysts forecast that Alliance Resource Partners, L.P. will post 3.54 earnings per share for the current year.

Alliance Resource Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.19%. The ex-dividend date of this dividend was Wednesday, August 7th. Alliance Resource Partners’s dividend payout ratio is presently 61.27%.

About Alliance Resource Partners

Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties.