Alliance Resource Partners, L.P. (NASDAQ:ARLP) Holdings Increased by Progeny 3 Inc.

Progeny 3 Inc. raised its position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,904,181 shares of the energy company’s stock after purchasing an additional 96,780 shares during the period. Alliance Resource Partners accounts for 6.1% of Progeny 3 Inc.’s investment portfolio, making the stock its 4th biggest position. Progeny 3 Inc. owned about 2.27% of Alliance Resource Partners worth $72,605,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ARLP. Atlanta Consulting Group Advisors LLC bought a new stake in Alliance Resource Partners during the third quarter valued at $29,144,000. Adams Asset Advisors LLC boosted its position in shares of Alliance Resource Partners by 1.6% during the 2nd quarter. Adams Asset Advisors LLC now owns 315,967 shares of the energy company’s stock valued at $7,729,000 after acquiring an additional 5,082 shares during the last quarter. Fairbanks Capital Management Inc. grew its holdings in shares of Alliance Resource Partners by 5.8% during the second quarter. Fairbanks Capital Management Inc. now owns 306,993 shares of the energy company’s stock worth $7,509,000 after purchasing an additional 16,844 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Alliance Resource Partners in the second quarter valued at approximately $6,595,000. Finally, Crescent Grove Advisors LLC lifted its position in Alliance Resource Partners by 15.5% during the third quarter. Crescent Grove Advisors LLC now owns 208,793 shares of the energy company’s stock valued at $5,220,000 after purchasing an additional 28,016 shares during the last quarter. 18.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARLP has been the topic of a number of research analyst reports. StockNews.com lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Benchmark raised their price target on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th.

Alliance Resource Partners Stock Performance

NASDAQ:ARLP opened at $28.23 on Friday. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 8.02 and a beta of 1.14. The business has a 50 day moving average of $25.93 and a 200 day moving average of $24.64. 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, L.P. has a 1-year low of $18.32 and a 1-year high of $29.44.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, October 28th. The energy company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.16). Alliance Resource Partners had a return on equity of 23.74% and a net margin of 18.52%. The business had revenue of $613.57 million during the quarter, compared to the consensus estimate of $646.17 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share. On average, sell-side analysts predict that Alliance Resource Partners, L.P. will post 3.2 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.80 annualized dividend and a yield of 9.92%. Alliance Resource Partners’s payout ratio is 79.55%.

Alliance Resource Partners Company 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.