Bank of America Corp DE Has $7.46 Million Holdings in Alliance Resource Partners, L.P. $ARLP

Key Points

• Bank of America increased its Alliance Resource Partners stake by 74.2% in the first quarter, acquiring 114,880 additional shares and bringing its holdings to 269,655 shares worth approximately $7.46 million.
• Other institutional investors also raised positions, while director Ronna R. McDaniel purchased 3,000 shares. Institutional investors own 18.11% of ARLP, and insiders own 16.80%.
• Alliance Resource Partners reported quarterly EPS of $0.65, slightly below the $0.66 estimate, but maintains a substantial $0.60 quarterly dividend—a 9.1% indicated yield. Analysts give the stock a “Moderate Buy” consensus rating with a $30 price target.

Bank of America Corp DE boosted its holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 74.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,655 shares of the energy company's stock after purchasing an additional 114,880 shares during the quarter. Bank of America Corp DE owned 0.21% of Alliance Resource Partners worth $7,456,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Parvin Asset Management LLC increased its holdings in shares of Alliance Resource Partners by 29.5% during the first quarter. Parvin Asset Management LLC now owns 20,075 shares of the energy company's stock worth $555,000 after purchasing an additional 4,575 shares during the period. Royal Bank of Canada raised its holdings in Alliance Resource Partners by 26.9% in the 1st quarter. Royal Bank of Canada now owns 27,356 shares of the energy company's stock valued at $756,000 after acquiring an additional 5,794 shares in the last quarter. Energy Income Partners LLC lifted its position in shares of Alliance Resource Partners by 145.9% during the 1st quarter. Energy Income Partners LLC now owns 737,328 shares of the energy company's stock valued at $20,387,000 after acquiring an additional 437,486 shares during the period. Gateway Wealth Partners LLC bought a new stake in shares of Alliance Resource Partners during the 1st quarter valued at $276,000. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of Alliance Resource Partners during the 1st quarter worth $6,830,000. Institutional investors own 18.11% of the company's stock.

Insiders Place Their Bets

In other news, Director Ronna R. Mcdaniel purchased 3,000 shares of the stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $26.11 per share, for a total transaction of $78,330.00. Following the acquisition, the director owned 3,000 shares in the company, valued at $78,330. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.80% of the company's stock.

Alliance Resource Partners Stock Up 0.3%

NASDAQ:ARLP opened at $26.47 on Wednesday. Alliance Resource Partners, L.P. has a one year low of $22.20 and a one year high of $29.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32. The company has a market cap of $3.41 billion, a PE ratio of 12.91 and a beta of 0.22. The firm's 50 day simple moving average is $24.90 and its 200 day simple moving average is $25.70.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $551.56 million for the quarter, compared to the consensus estimate of $554.30 million. Alliance Resource Partners had a net margin of 12.25% and a return on equity of 17.70%. On average, research analysts anticipate that Alliance Resource Partners, L.P. will post 2.65 earnings per share for the current year.

Alliance Resource Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a $0.60 dividend. The ex-dividend date was Friday, August 7th. This represents a $2.40 annualized dividend and a yield of 9.1%. Alliance Resource Partners's dividend payout ratio is presently 117.07%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Alliance Resource Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research cut shares of Alliance Resource Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Weiss Ratings downgraded shares of Alliance Resource Partners from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Alliance Resource Partners currently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

About Alliance Resource Partners

Alliance Resource Partners, L.P. NASDAQ: ARLP is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance's integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.

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