Crescent Grove Advisors LLC Increases Stock Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Crescent Grove Advisors LLC increased its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,793 shares of the energy company's stock after purchasing an additional 28,016 shares during the quarter. Crescent Grove Advisors LLC owned approximately 0.16% of Alliance Resource Partners worth $5,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC purchased a new stake in Alliance Resource Partners in the 1st quarter worth $3,566,000. Pathway Financial Advisers LLC increased its holdings in shares of Alliance Resource Partners by 2,400.0% in the third quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company's stock worth $1,692,000 after purchasing an additional 64,968 shares during the last quarter. Creative Planning lifted its position in shares of Alliance Resource Partners by 89.8% in the second quarter. Creative Planning now owns 72,099 shares of the energy company's stock worth $1,764,000 after buying an additional 34,106 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Alliance Resource Partners during the 3rd quarter valued at approximately $7,500,000. Finally, Progeny 3 Inc. increased its stake in Alliance Resource Partners by 2.8% in the 2nd quarter. Progeny 3 Inc. now owns 2,807,401 shares of the energy company's stock worth $68,669,000 after acquiring an additional 75,340 shares during the last quarter. Institutional investors own 18.11% of the company's stock.

Alliance Resource Partners Trading Up 3.3 %

ARLP stock traded up $0.87 during midday trading on Wednesday, reaching $27.59. 803,660 shares of the company traded hands, compared to its average volume of 383,554. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 7.59 and a beta of 1.14. Alliance Resource Partners, L.P. has a 52-week low of $18.32 and a 52-week high of $27.80. The business has a 50 day moving average of $24.62 and a 200-day moving average of $24.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.16). Alliance Resource Partners had a net margin of 18.52% and a return on equity of 23.80%. The company had revenue of $613.57 million for the quarter, compared to analysts' expectations of $646.17 million. During the same quarter in the previous year, the company posted $1.18 EPS. As a group, sell-side analysts expect that Alliance Resource Partners, L.P. will post 3.2 earnings per share for the current fiscal year.

Alliance Resource Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.80 annualized dividend and a yield of 10.15%. Alliance Resource Partners's payout ratio is 79.55%.

Analyst Ratings Changes

A number of research analysts have recently commented on ARLP shares. StockNews.com downgraded Alliance Resource Partners from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 31st. Benchmark lifted their price objective on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th.

About Alliance Resource Partners

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.