MGO One Seven LLC Takes $6.22 Million Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Key Points

• MGO One Seven LLC has acquired a new stake in Alliance Resource Partners, L.P., purchasing 228,014 shares valued at approximately $6.22 million.
• Despite a recent 3.4% decline in share price, several analysts have upgraded their ratings, with Wall Street Zen raising Alliance Resource Partners from a "hold" to a "buy" rating.
• The company's quarterly earnings report indicated earnings per share of $0.55, missing estimates, and it also announced a quarterly dividend of $0.60 per share, resulting in a high dividend payout ratio of 132.08%.

MGO One Seven LLC acquired a new position in Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 228,014 shares of the energy company's stock, valued at approximately $6,220,000. MGO One Seven LLC owned approximately 0.18% of Alliance Resource Partners at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Alliance Resource Partners in the 4th quarter valued at about $14,564,000. Huntleigh Advisors Inc. bought a new position in Alliance Resource Partners in the 1st quarter valued at about $14,190,000. Jackson Hole Capital Partners LLC lifted its position in shares of Alliance Resource Partners by 7.3% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 2,098,619 shares of the energy company's stock worth $57,250,000 after buying an additional 142,071 shares in the last quarter. Castalian Partners LLC bought a new position in shares of Alliance Resource Partners during the 4th quarter worth approximately $3,353,000. Finally, Orvieto Partners L.P. bought a new position in shares of Alliance Resource Partners during the 4th quarter worth approximately $2,070,000. 18.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on ARLP shares. 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. Benchmark reissued a "buy" rating and set a $29.00 target price on shares of Alliance Resource Partners in a research report on Tuesday, April 29th.

Alliance Resource Partners Stock Performance

Shares of NASDAQ:ARLP traded up $0.11 during mid-day trading on Friday, reaching $26.59. The company had a trading volume of 352,240 shares, compared to its average volume of 265,149. 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 has a market cap of $3.41 billion, a price-to-earnings ratio of 13.10 and a beta of 0.56. The company's 50-day moving average price is $26.41 and its 200-day moving average price is $26.56. Alliance Resource Partners, L.P. has a one year low of $22.18 and a one year high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The energy company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.06). The company had revenue of $547.46 million during the quarter, compared to the consensus estimate of $583.57 million. Alliance Resource Partners had a return on equity of 14.16% and a net margin of 10.30%. As a group, equities research analysts anticipate that Alliance Resource Partners, L.P. will post 2.72 EPS for the current fiscal year.

Alliance Resource Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Thursday, August 7th. Alliance Resource Partners's payout ratio is 154.70%.

Alliance Resource Partners Profile

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.