Raymond James Financial Inc. Makes New Investment in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Raymond James Financial Inc. bought a new position in Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 553,970 shares of the energy company's stock, valued at approximately $14,564,000. Raymond James Financial Inc. owned about 0.43% of Alliance Resource Partners at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ARLP. JPMorgan Chase & Co. increased its stake in Alliance Resource Partners by 2.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,815,453 shares of the energy company's stock worth $47,728,000 after acquiring an additional 44,636 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Alliance Resource Partners in the fourth quarter worth $495,000. Avantax Advisory Services Inc. bought a new stake in Alliance Resource Partners in the fourth quarter worth $271,000. Commonwealth Equity Services LLC raised its stake in Alliance Resource Partners by 13.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 80,841 shares of the energy company's stock valued at $2,125,000 after purchasing an additional 9,451 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC bought a new position in Alliance Resource Partners during the fourth quarter valued at $1,440,000. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

Alliance Resource Partners Trading Down 1.1 %

ARLP stock traded down $0.31 during mid-day trading on Friday, reaching $27.14. 289,160 shares of the stock traded hands, compared to its average volume of 372,303. The business has a 50-day moving average price of $26.19 and a two-hundred day moving average price of $26.51. The stock has a market capitalization of $3.49 billion, a PE ratio of 9.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 2.36. Alliance Resource Partners, L.P. has a one year low of $21.11 and a one year high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The energy company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.38). Alliance Resource Partners had a net margin of 14.74% and a return on equity of 19.09%. Equities research analysts expect that Alliance Resource Partners, L.P. will post 2.72 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 10.32%. The ex-dividend date was Friday, February 7th. Alliance Resource Partners's dividend payout ratio is currently 101.45%.

Analysts Set New Price Targets

ARLP has been the topic of a number of research reports. StockNews.com downgraded shares of Alliance Resource Partners from a "buy" rating to a "hold" rating in a report on Saturday. Benchmark restated a "buy" rating and set a $29.00 price objective (up from $27.00) on shares of Alliance Resource Partners in a research report on Tuesday, February 4th.

Insider Activity at Alliance Resource Partners

In other news, SVP Timothy J. Whelan sold 50,000 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now directly owns 93,850 shares in the company, valued at approximately $2,358,450.50. This represents a 34.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.80% of the stock is owned by company insiders.

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.