Alliance Holdings GP, L.P. (NASDAQ:AHGP) Shares Up 12.6% Following Dividend Announcement

Alliance Holdings GP, L.P. (NASDAQ:AHGP) shares shot up 12.6% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $29.43 and last traded at $28.63, with a volume of 555,751 shares. The stock had previously closed at $25.42.

The newly announced dividend which will be paid on Friday, August 18th. Shareholders of record on Friday, August 11th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date of this dividend is Wednesday, August 9th. This is a positive change from Alliance Holdings GP, L.P.’s previous quarterly dividend of $0.55. Alliance Holdings GP, L.P.’s payout ratio is 84.39%.

A number of research firms have commented on AHGP. Zacks Investment Research upgraded Alliance Holdings GP, L.P. from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Wednesday. ValuEngine downgraded Alliance Holdings GP, L.P. from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, BidaskClub raised Alliance Holdings GP, L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th.

The company has a 50 day moving average price of $25.84 and a 200 day moving average price of $27.65. The company has a market capitalization of $1.58 billion, a PE ratio of 7.64 and a beta of 0.53.

Alliance Holdings GP, L.P. (NASDAQ:AHGP) last issued its earnings results on Monday, July 31st. The energy company reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Alliance Holdings GP, L.P. had a return on equity of 19.15% and a net margin of 10.69%. The business had revenue of $398.60 million for the quarter, compared to analysts’ expectations of $461.30 million. During the same period last year, the business earned $0.76 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities research analysts predict that Alliance Holdings GP, L.P. will post $3.34 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Alliance Holdings GP, L.P. by 0.6% in the first quarter. Bank of America Corp DE now owns 22,207 shares of the energy company’s stock valued at $609,000 after buying an additional 140 shares in the last quarter. Principal Financial Group Inc. raised its stake in Alliance Holdings GP, L.P. by 2.7% in the second quarter. Principal Financial Group Inc. now owns 15,153 shares of the energy company’s stock valued at $359,000 after buying an additional 400 shares in the last quarter. Global X Management Co. LLC raised its stake in Alliance Holdings GP, L.P. by 3.9% in the first quarter. Global X Management Co. LLC now owns 11,385 shares of the energy company’s stock valued at $312,000 after buying an additional 430 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Alliance Holdings GP, L.P. by 9.3% in the second quarter. Advisor Group Inc. now owns 5,125 shares of the energy company’s stock valued at $122,000 after buying an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Alliance Holdings GP, L.P. by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 156,033 shares of the energy company’s stock valued at $4,280,000 after buying an additional 3,107 shares during the period. Institutional investors own 24.49% of the company’s stock.

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Alliance Holdings GP, L.P. Company Profile

Alliance Holdings GP, L.P. (AHGP) is a limited partnership company. The Company owns directly and indirectly the members’ interest in Alliance Resource Management GP, LLC (MGP), the managing general partner of Alliance Resource Partners, L.P. (ARLP). The Company’s segments include Illinois Basin, Appalachia, and Other and Corporate.

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