SteelPeak Wealth LLC Purchases New Stake in Alliance Resource Partners, L.P. $ARLP

Key Points

• SteelPeak Wealth LLC initiated a new position in Alliance Resource Partners, buying 50,540 shares worth about $1.4 million in the first quarter.
• Institutional interest in ARLP remains active, with several other hedge funds and advisors also adding or increasing stakes; overall, about 18.11% of the stock is owned by institutions.
• Alliance Resource Partners recently reported mixed fundamentals: quarterly EPS of $0.07 missed estimates, but the company also paid a $0.60 quarterly dividend, implying a high annualized yield of 9.8%.

SteelPeak Wealth LLC bought a new stake in Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,540 shares of the energy company's stock, valued at approximately $1,397,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ARLP. Trifecta Capital Advisors LLC acquired a new stake in Alliance Resource Partners during the first quarter worth about $97,000. Summit Securities Group LLC purchased a new position in Alliance Resource Partners during the first quarter worth about $28,000. Kestra Advisory Services LLC boosted its holdings in Alliance Resource Partners by 19.4% in the 1st quarter. Kestra Advisory Services LLC now owns 39,693 shares of the energy company's stock valued at $1,098,000 after purchasing an additional 6,448 shares during the last quarter. Abel Hall LLC acquired a new position in Alliance Resource Partners in the 1st quarter valued at about $276,000. Finally, Legacy Financial Group Inc. purchased a new stake in shares of Alliance Resource Partners in the 1st quarter valued at approximately $293,000. 18.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Alliance Resource Partners from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Weiss Ratings lowered Alliance Resource Partners from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 18th. Finally, Zacks Research raised Alliance Resource Partners from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Alliance Resource Partners currently has an average rating of "Buy" and a consensus target price of $30.00.

Alliance Resource Partners Price Performance

Shares of ARLP opened at $24.42 on Friday. The firm has a 50-day simple moving average of $24.71 and a two-hundred day simple moving average of $25.44. The stock has a market cap of $3.14 billion, a PE ratio of 12.85 and a beta of 0.23. Alliance Resource Partners, L.P. has a 1-year low of $22.20 and a 1-year high of $29.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.46 and a quick ratio of 0.95.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The energy company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.28). The company had revenue of $516.02 million during the quarter, compared to analyst estimates of $518.24 million. Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%. As a group, analysts forecast that Alliance Resource Partners, L.P. will post 2.53 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.8%. Alliance Resource Partners's payout ratio is presently 126.32%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.