Bank of America Corp DE Decreases Stake in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Bank of America Corp DE lessened its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,878,623 shares of the energy company's stock after selling 323,454 shares during the period. Bank of America Corp DE owned 1.47% of Alliance Resource Partners worth $49,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Alliance Resource Partners during the 4th quarter worth approximately $14,564,000. Castalian Partners LLC acquired a new position in shares of Alliance Resource Partners during the fourth quarter valued at about $3,353,000. GraniteShares Advisors LLC acquired a new position in Alliance Resource Partners in the fourth quarter worth about $2,493,000. Orvieto Partners L.P. acquired a new position in Alliance Resource Partners in the fourth quarter worth about $2,070,000. Finally, Horizon Kinetics Asset Management LLC acquired a new position in Alliance Resource Partners in the fourth quarter worth about $1,440,000. Institutional investors own 18.11% of the company's stock.

Alliance Resource Partners Stock Performance

ARLP traded up $0.03 on Tuesday, reaching $26.57. The company had a trading volume of 27,603 shares, compared to its average volume of 357,656. 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 market cap of $3.41 billion, a P/E ratio of 9.64 and a beta of 0.52. Alliance Resource Partners, L.P. has a fifty-two week low of $22.18 and a fifty-two week high of $30.56. The company's fifty day moving average is $26.41 and its 200 day moving average is $26.66.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). The business had revenue of $540.47 million for the quarter, compared to the consensus estimate of $556.31 million. Alliance Resource Partners had a net margin of 14.74% and a return on equity of 19.09%. As a group, analysts predict that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current fiscal year.

Alliance Resource Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.80 dividend on an annualized basis and a yield of 10.54%. Alliance Resource Partners's dividend payout ratio is presently 132.08%.

Wall Street Analysts Forecast Growth

ARLP has been the topic of several research analyst reports. Benchmark reissued a "buy" rating and set a $29.00 price target on shares of Alliance Resource Partners in a research note on Tuesday, April 29th. StockNews.com raised shares of Alliance Resource Partners from a "hold" rating to a "buy" rating in a research report on Sunday, May 4th.

Insider Transactions at Alliance Resource Partners

In related news, SVP Timothy J. Whelan sold 50,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were 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 in the company, valued at $2,358,450.50. This represents a 34.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.80% of the company's stock.

Alliance Resource Partners Company 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.