Hidden Cove Wealth Management LLC increased its stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 100.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,159 shares of the energy company's stock after purchasing an additional 35,100 shares during the quarter. Alliance Resource Partners makes up 1.5% of Hidden Cove Wealth Management LLC's holdings, making the stock its 14th largest position. Hidden Cove Wealth Management LLC owned 0.05% of Alliance Resource Partners worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Alliance Resource Partners during the fourth quarter worth about $26,000. Farther Finance Advisors LLC boosted its stake in Alliance Resource Partners by 321.3% in the 1st quarter. Farther Finance Advisors LLC now owns 969 shares of the energy company's stock worth $26,000 after purchasing an additional 739 shares in the last quarter. Summit Securities Group LLC boosted its stake in Alliance Resource Partners by 350.0% in the 4th quarter. Summit Securities Group LLC now owns 1,800 shares of the energy company's stock worth $47,000 after purchasing an additional 1,400 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Alliance Resource Partners by 223.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,406 shares of the energy company's stock worth $90,000 after purchasing an additional 2,353 shares during the last quarter. Finally, First United Bank & Trust acquired a new position in Alliance Resource Partners during the 1st quarter valued at approximately $94,000. 18.11% of the stock is currently owned by hedge funds and other institutional investors.
Alliance Resource Partners Stock Performance
ARLP opened at $25.43 on Friday. Alliance Resource Partners, L.P. has a twelve month low of $22.18 and a twelve month high of $30.56. The firm has a market capitalization of $3.27 billion, a PE ratio of 12.00 and a beta of 0.56. The company has a current ratio of 1.93, a quick ratio of 1.37 and a debt-to-equity ratio of 0.24. The firm's 50-day moving average price is $26.29 and its 200 day moving average price is $26.43.
Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $540.47 million for the quarter, compared to analyst estimates of $556.31 million. Alliance Resource Partners had a return on equity of 15.77% and a net margin of 11.84%. As a group, sell-side analysts expect that Alliance Resource Partners, L.P. will post 2.72 EPS for the current fiscal year.
Alliance Resource Partners Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.80 annualized dividend and a dividend yield of 11.01%. Alliance Resource Partners's dividend payout ratio is presently 132.08%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Benchmark restated a "buy" rating and issued a $29.00 price objective on shares of Alliance Resource Partners in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Alliance Resource Partners from a "hold" rating to a "buy" rating in a research report on Sunday, May 4th.
Check Out Our Latest Report on Alliance Resource Partners
Alliance Resource Partners Profile
(
Free Report)
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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