JPMorgan Chase & Co. Trims Stock Position in Alliance Resource Partners, L.P. $ARLP

Key Points

• JPMorgan Chase & Co. cut its position in Alliance Resource Partners by 55.1% in Q3, selling 99,541 shares and leaving 81,244 shares worth about $2.05 million (≈0.06% of the company).
• High dividend yield: ARLP pays $0.60 quarterly (annualized $2.40) for an 8.5% yield, though the dividend payout ratio is 100%.
• Mixed performance and analyst view: the company beat EPS estimates ($0.75 vs. $0.61) but missed revenue, and analysts’ consensus rating is a "Hold" with a $29.50 target price.

JPMorgan Chase & Co. cut its position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 55.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,244 shares of the energy company's stock after selling 99,541 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Alliance Resource Partners worth $2,054,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ARLP. Nomura Holdings Inc. purchased a new position in Alliance Resource Partners during the second quarter worth about $7,842,000. Mercer Global Advisors Inc. ADV raised its stake in Alliance Resource Partners by 1,636.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 268,637 shares of the energy company's stock worth $6,792,000 after purchasing an additional 253,165 shares during the period. ING Groep NV raised its stake in Alliance Resource Partners by 167.8% during the third quarter. ING Groep NV now owns 378,100 shares of the energy company's stock worth $9,560,000 after purchasing an additional 236,900 shares during the period. UBS Group AG raised its stake in Alliance Resource Partners by 383.5% during the third quarter. UBS Group AG now owns 269,165 shares of the energy company's stock worth $6,806,000 after purchasing an additional 213,496 shares during the period. Finally, Progeny 3 Inc. raised its stake in Alliance Resource Partners by 6.9% during the third quarter. Progeny 3 Inc. now owns 3,274,381 shares of the energy company's stock worth $82,793,000 after purchasing an additional 211,400 shares during the period. 18.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ARLP. Benchmark reaffirmed a "buy" rating on shares of Alliance Resource Partners in a research note on Tuesday, February 3rd. Wall Street Zen lowered shares of Alliance Resource Partners from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings lowered shares of Alliance Resource Partners from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, March 16th. Finally, Zacks Research lowered shares of Alliance Resource Partners from a "hold" rating to a "strong sell" rating in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $29.50.

Alliance Resource Partners Stock Performance

Shares of ARLP stock opened at $28.18 on Tuesday. The firm's 50 day moving average price is $26.58 and its 200-day moving average price is $25.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.41 and a current ratio of 2.10. Alliance Resource Partners, L.P. has a one year low of $22.20 and a one year high of $29.45. The firm has a market cap of $3.63 billion, a P/E ratio of 11.74 and a beta of 0.31.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last issued its quarterly earnings data on Monday, February 2nd. The energy company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.61 by $0.14. Alliance Resource Partners had a net margin of 14.18% and a return on equity of 18.41%. The firm had revenue of $535.51 million for the quarter, compared to analyst estimates of $556.82 million. As a group, equities research analysts predict that Alliance Resource Partners, L.P. will post 2.72 EPS for the current year.

Alliance Resource Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend was Friday, February 6th. Alliance Resource Partners's dividend payout ratio is presently 100.00%.

Alliance Resource Partners Company Profile

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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