Wealth Enhancement Advisory Services LLC increased its holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP – Free Report) by 119.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,506 shares of the energy company’s stock after purchasing an additional 10,613 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Alliance Resource Partners were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ARLP. Raymond James Financial Inc. bought a new position in Alliance Resource Partners in the 4th quarter worth approximately $14,564,000. Castalian Partners LLC bought a new position in Alliance Resource Partners during the 4th quarter valued at $3,353,000. GraniteShares Advisors LLC bought a new position in Alliance Resource Partners during the 4th quarter valued at $2,493,000. Orvieto Partners L.P. bought a new position in Alliance Resource Partners during the 4th quarter valued at $2,070,000. Finally, Horizon Kinetics Asset Management LLC bought a new position in Alliance Resource Partners during the 4th quarter valued at $1,440,000. 18.11% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $29.00 price target on shares of Alliance Resource Partners in a research note on Tuesday, April 29th. Wall Street Zen raised Alliance Resource Partners from a “hold” rating to a “buy” rating in a research note on Sunday, May 4th.
Alliance Resource Partners Stock Performance
Shares of NASDAQ ARLP opened at $25.96 on Thursday. The firm has a market cap of $3.33 billion, a P/E ratio of 9.41 and a beta of 0.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 2.36. The stock has a fifty day moving average price of $26.38 and a two-hundred day moving average price of $26.56. Alliance Resource Partners, L.P. has a 1 year low of $22.18 and a 1 year high of $30.56.
Alliance Resource Partners (NASDAQ:ARLP – Get Free Report) last released its quarterly earnings data on Monday, April 28th. The energy company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.03). The company had revenue of $540.47 million for the quarter, compared to the consensus estimate of $556.31 million. Alliance Resource Partners had a return on equity of 19.09% and a net margin of 14.74%. Research analysts forecast that Alliance Resource Partners, L.P. will post 2.72 EPS for the current fiscal year.
Alliance Resource Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 10.79%. The ex-dividend date was Thursday, May 8th. Alliance Resource Partners’s dividend payout ratio is presently 132.08%.
Insider Transactions at Alliance Resource Partners
In other news, SVP Timothy J. Whelan sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $25.13, for a total transaction of $1,256,500.00. Following the completion of the sale, the senior vice president now directly owns 93,850 shares of the company’s stock, valued at $2,358,450.50. This trade represents a 34.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 16.80% of the company’s stock.
Alliance Resource Partners Profile
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.
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