Aveo Capital Partners LLC purchased a new position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the first quarter, HoldingsChannel reports. The fund purchased 9,976 shares of the energy company’s stock, valued at approximately $203,000.
Other large investors have also modified their holdings of the company. Dividend Assets Capital LLC boosted its holdings in Alliance Resource Partners by 37.2% in the fourth quarter. Dividend Assets Capital LLC now owns 123,510 shares of the energy company’s stock valued at $2,142,000 after purchasing an additional 33,510 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Alliance Resource Partners during the fourth quarter valued at $1,411,000. First Trust Advisors LP acquired a new stake in shares of Alliance Resource Partners during the fourth quarter valued at $389,000. Acima Private Wealth LLC acquired a new stake in shares of Alliance Resource Partners during the fourth quarter valued at $69,000. Finally, Abacus Planning Group Inc. acquired a new stake in shares of Alliance Resource Partners during the fourth quarter valued at $364,000. Institutional investors own 26.85% of the company’s stock.
ARLP has been the topic of a number of analyst reports. BidaskClub lowered Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Zacks Investment Research raised Alliance Resource Partners from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Thursday, April 25th. Finally, ValuEngine raised Alliance Resource Partners from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.50.
Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, April 29th. The energy company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. Alliance Resource Partners had a return on equity of 30.52% and a net margin of 23.51%. The firm had revenue of $526.60 million for the quarter, compared to analyst estimates of $523.00 million. During the same period last year, the company earned $1.16 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts predict that Alliance Resource Partners, L.P. will post 3.1 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were given a dividend of $0.535 per share. The ex-dividend date was Tuesday, May 7th. This is a positive change from Alliance Resource Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 11.59%. Alliance Resource Partners’s payout ratio is 87.70%.
About Alliance Resource Partners
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.
Further Reading: Rule of 72
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