Alliance Resource Partners (NASDAQ:ARLP) Stock Price Up 4.4% After Dividend Announcement

Alliance Resource Partners, L.P. (NASDAQ:ARLP - Get Free Report) traded up 4.4% on Monday after the company announced a dividend. The stock traded as high as $28.31 and last traded at $28.33. 232,564 shares traded hands during trading, a decline of 37% from the average session volume of 371,175 shares. The stock had previously closed at $27.14.The newly announced dividend which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 9.92%. Alliance Resource Partners's dividend payout ratio is currently 101.45%.

Wall Street Analyst Weigh In

Several research analysts have commented on ARLP shares. StockNews.com downgraded Alliance Resource Partners from a "buy" rating to a "hold" rating in a research note on Saturday. Benchmark reaffirmed a "buy" rating and set a $29.00 price target (up from $27.00) on shares of Alliance Resource Partners in a report on Tuesday, February 4th.

Alliance Resource Partners Stock Up 4.0 %

The company has a current ratio of 2.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.63 billion, a P/E ratio of 10.24 and a beta of 0.62. The stock has a 50 day moving average price of $26.19 and a 200 day moving average price of $26.53.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The energy company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.03). Alliance Resource Partners had a net margin of 14.74% and a return on equity of 19.09%. On average, research analysts anticipate that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alliance Resource Partners news, SVP Timothy J. Whelan sold 50,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $25.13, for a total value of $1,256,500.00. Following the completion of the transaction, the senior vice president now directly owns 93,850 shares in the company, valued at approximately $2,358,450.50. This represents a 34.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.80% of the stock is owned by corporate insiders.

Institutional Trading of Alliance Resource Partners

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in Alliance Resource Partners by 2.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,815,453 shares of the energy company's stock worth $47,728,000 after buying an additional 44,636 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Alliance Resource Partners in the fourth quarter worth approximately $495,000. Raymond James Financial Inc. bought a new stake in Alliance Resource Partners in the fourth quarter valued at approximately $14,564,000. Avantax Advisory Services Inc. acquired a new stake in Alliance Resource Partners during the 4th quarter valued at approximately $271,000. Finally, Commonwealth Equity Services LLC raised its holdings in Alliance Resource Partners by 13.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 80,841 shares of the energy company's stock worth $2,125,000 after purchasing an additional 9,451 shares during the last quarter. Institutional investors own 18.11% of the company's stock.

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.

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