Hidden Cove Wealth Management LLC raised its stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 100.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,159 shares of the energy company's stock after purchasing an additional 35,100 shares during the period. Alliance Resource Partners accounts for 1.5% of Hidden Cove Wealth Management LLC's portfolio, making the stock its 14th largest position. Hidden Cove Wealth Management LLC owned about 0.05% of Alliance Resource Partners worth $1,914,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Progeny 3 Inc. increased its holdings in shares of Alliance Resource Partners by 1.3% during the 4th quarter. Progeny 3 Inc. now owns 2,942,211 shares of the energy company's stock worth $77,351,000 after buying an additional 38,030 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 last quarter. Recurrent Investment Advisors LLC increased its holdings in shares of Alliance Resource Partners by 0.5% during the 4th quarter. Recurrent Investment Advisors LLC now owns 1,151,070 shares of the energy company's stock worth $30,262,000 after buying an additional 5,925 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Alliance Resource Partners during the 4th quarter worth $14,564,000. Finally, Huntleigh Advisors Inc. acquired a new stake in shares of Alliance Resource Partners during the 1st quarter worth $14,190,000. Hedge funds and other institutional investors own 18.11% of the company's stock.
Alliance Resource Partners Stock Up 2.3%
Alliance Resource Partners stock traded up $0.60 during trading on Monday, reaching $26.14. 229,852 shares of the company's stock were exchanged, compared to its average volume of 341,224. The company's 50-day moving average is $26.24 and its two-hundred day moving average is $26.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 1.93. Alliance Resource Partners, L.P. has a 52-week low of $22.18 and a 52-week high of $30.56. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 12.33 and a beta of 0.56.
Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The energy company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.03). Alliance Resource Partners had a return on equity of 15.77% and a net margin of 11.84%. The business had revenue of $540.47 million for the quarter, compared to analysts' expectations of $556.31 million. On average, analysts predict that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current year.
Alliance Resource Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 dividend on an annualized basis and a yield of 10.71%. Alliance Resource Partners's dividend payout ratio (DPR) is 132.08%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on ARLP shares. Wall Street Zen upgraded Alliance Resource Partners from a "hold" rating to a "buy" rating in a report on Sunday, May 4th. Benchmark reaffirmed a "buy" rating and set a $29.00 price target on shares of Alliance Resource Partners in a research report on Tuesday, April 29th.
Read Our Latest Stock Report on Alliance Resource Partners
Alliance Resource Partners Company 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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