International Assets Investment Management LLC Acquires New Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

International Assets Investment Management LLC purchased a new stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the energy company's stock, valued at approximately $7,500,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC acquired a new stake in Alliance Resource Partners during the 1st quarter worth approximately $3,566,000. Creative Planning increased its holdings in Alliance Resource Partners by 89.8% in the 2nd quarter. Creative Planning now owns 72,099 shares of the energy company's stock valued at $1,764,000 after purchasing an additional 34,106 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Alliance Resource Partners by 36.5% in the first quarter. Commonwealth Equity Services LLC now owns 53,357 shares of the energy company's stock valued at $1,070,000 after purchasing an additional 14,255 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of Alliance Resource Partners by 18.4% in the first quarter. J.W. Cole Advisors Inc. now owns 20,102 shares of the energy company's stock worth $403,000 after buying an additional 3,131 shares during the period. Finally, Progeny 3 Inc. raised its holdings in shares of Alliance Resource Partners by 2.8% during the 2nd quarter. Progeny 3 Inc. now owns 2,807,401 shares of the energy company's stock valued at $68,669,000 after buying an additional 75,340 shares during the period. 18.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on ARLP shares. StockNews.com cut shares of Alliance Resource Partners from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 31st. Benchmark increased their price target on Alliance Resource Partners from $26.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday.

Alliance Resource Partners Stock Up 0.8 %

Shares of ARLP stock traded up $0.20 during mid-day trading on Friday, reaching $26.37. 475,814 shares of the company were exchanged, compared to its average volume of 380,036. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53. The business's 50 day simple moving average is $24.47 and its 200 day simple moving average is $23.92. The company has a market capitalization of $3.38 billion, a P/E ratio of 7.43 and a beta of 1.13. Alliance Resource Partners, L.P. has a fifty-two week low of $18.32 and a fifty-two week high of $26.67.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last released its 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). The company had revenue of $613.57 million during the quarter, compared to the consensus estimate of $646.17 million. Alliance Resource Partners had a return on equity of 23.80% and a net margin of 18.52%. During the same period in the previous year, the firm posted $1.18 EPS. Research analysts predict that Alliance Resource Partners, L.P. will post 3.2 earnings per share for the current year.

Alliance Resource Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.80 annualized dividend and a dividend yield of 10.62%. 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.