Progeny 3 Inc. raised its position in Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 comprises about 6.1% of Progeny 3 Inc.'s portfolio, making the stock its 4th largest holding. Progeny 3 Inc. owned approximately 2.30% of Alliance Resource Partners worth $77,351,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Alliance Resource Partners in the fourth quarter worth approximately $26,000. USA Financial Formulas acquired a new stake in Alliance Resource Partners during the 4th quarter worth $33,000. Summit Securities Group LLC grew its holdings in shares of Alliance Resource Partners by 350.0% during the fourth quarter. Summit Securities Group LLC now owns 1,800 shares of the energy company's stock worth $47,000 after buying an additional 1,400 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Alliance Resource Partners by 223.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,406 shares of the energy company's stock valued at $90,000 after buying an additional 2,353 shares during the last quarter. Finally, Bogart Wealth LLC acquired a new stake in shares of Alliance Resource Partners in the fourth quarter valued at about $127,000. 18.11% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Alliance Resource Partners
In other Alliance Resource Partners news, SVP Timothy J. Whelan sold 50,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $25.13, for a total value of $1,256,500.00. Following the completion of the transaction, the senior vice president now owns 93,850 shares in the company, valued at $2,358,450.50. The trade was a 34.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.80% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
ARLP has been the topic of a number of research reports. StockNews.com raised shares of Alliance Resource Partners from a "hold" rating to a "buy" rating in a research note on Sunday, May 4th. Benchmark reissued a "buy" rating and set a $29.00 price objective on shares of Alliance Resource Partners in a research note on Tuesday, April 29th.
Read Our Latest Research Report on ARLP
Alliance Resource Partners Trading Up 0.6%
Shares of NASDAQ:ARLP traded up $0.17 during midday trading on Tuesday, reaching $26.71. 54,279 shares of the company's stock were exchanged, compared to its average volume of 357,757. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 9.69 and a beta of 0.52. Alliance Resource Partners, L.P. has a fifty-two week low of $22.18 and a fifty-two week high of $30.56. The firm's 50 day simple moving average is $26.41 and its two-hundred day simple moving average is $26.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.36 and a quick ratio of 1.69.
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 net margin of 14.74% and a return on equity of 19.09%. The company had revenue of $540.47 million for the quarter, compared to analyst estimates of $556.31 million. As a group, sell-side analysts forecast that Alliance Resource Partners, L.P. will post 2.72 EPS for the current fiscal year.
Alliance Resource Partners Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 10.48%. The ex-dividend date of this dividend was Thursday, May 8th. Alliance Resource Partners's payout ratio is 132.08%.
Alliance Resource Partners 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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