Progeny 3 Inc. lifted its position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,942,211 shares of the energy company's stock after buying an additional 38,030 shares during the period. Alliance Resource Partners makes up approximately 6.1% of Progeny 3 Inc.'s portfolio, making the stock its 4th largest position. Progeny 3 Inc. owned about 2.30% of Alliance Resource Partners worth $77,351,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BCS Wealth Management boosted its position in shares of Alliance Resource Partners by 2.4% during the 4th quarter. BCS Wealth Management now owns 19,971 shares of the energy company's stock worth $525,000 after purchasing an additional 476 shares during the period. Virtus ETF Advisers LLC boosted its position in shares of Alliance Resource Partners by 7.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 7,278 shares of the energy company's stock worth $191,000 after purchasing an additional 511 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Alliance Resource Partners during the 4th quarter worth approximately $26,000. Geode Capital Management LLC boosted its position in shares of Alliance Resource Partners by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 120,294 shares of the energy company's stock worth $3,163,000 after purchasing an additional 1,200 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of Alliance Resource Partners during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 18.11% of the company's stock.
Insider Transactions at Alliance Resource Partners
In related news, SVP Timothy J. Whelan sold 50,000 shares of Alliance Resource Partners stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.13, for a total transaction of $1,256,500.00. Following the sale, the senior vice president now directly owns 93,850 shares in the company, valued at $2,358,450.50. This trade represents a 34.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.80% of the company's stock.
Alliance Resource Partners Stock Up 0.3%
ARLP stock traded up $0.07 during midday trading on Friday, hitting $26.68. The company's stock had a trading volume of 192,624 shares, compared to its average volume of 359,728. The company has a quick ratio of 1.69, a current ratio of 2.36 and a debt-to-equity ratio of 0.24. 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 capitalization of $3.43 billion, a P/E ratio of 9.67 and a beta of 0.52. The firm has a 50-day simple moving average of $26.37 and a 200-day simple moving average of $26.65.
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 analysts' expectations of $556.31 million. Alliance Resource Partners had a return on equity of 19.09% and a net margin of 14.74%. As a group, equities analysts forecast that Alliance Resource Partners, L.P. will post 2.72 EPS for the current year.
Alliance Resource Partners Announces Dividend
The company also recently disclosed 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 10.49%. Alliance Resource Partners's dividend payout ratio (DPR) is currently 132.08%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. StockNews.com 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 issued a $29.00 price target on shares of Alliance Resource Partners in a research report on Tuesday, April 29th.
Check Out Our Latest Research Report on Alliance Resource Partners
About Alliance Resource Partners
(
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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