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

Raymond James Financial Inc. bought a new stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and 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 approximately 0.43% of Alliance Resource Partners at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Alliance Resource Partners by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 120,294 shares of the energy company's stock valued at $3,163,000 after buying an additional 1,200 shares during the last quarter. Summit Securities Group LLC boosted its holdings in shares of Alliance Resource Partners by 350.0% during the 4th quarter. Summit Securities Group LLC now owns 1,800 shares of the energy company's stock worth $47,000 after purchasing an additional 1,400 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Alliance Resource Partners by 2.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,815,453 shares of the energy company's stock valued at $47,728,000 after purchasing an additional 44,636 shares in the last quarter. Jackson Thornton Wealth Management LLC acquired a new stake in shares of Alliance Resource Partners in the fourth quarter valued at approximately $380,000. Finally, Horizon Kinetics Asset Management LLC purchased a new position in Alliance Resource Partners during the fourth quarter worth approximately $1,440,000. Institutional investors and hedge funds own 18.11% of the company's stock.

Insider Activity

In other Alliance Resource Partners news, SVP Timothy J. Whelan sold 50,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.13, for a total transaction of $1,256,500.00. Following the sale, the senior vice president now owns 93,850 shares in the company, valued at $2,358,450.50. This represents a 34.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 16.80% of the company's stock.

Analyst Upgrades and Downgrades

ARLP has been the subject of a number of recent research reports. Benchmark reaffirmed a "buy" rating and issued a $29.00 target price (up from $27.00) on shares of Alliance Resource Partners in a research note on Tuesday, February 4th. StockNews.com raised Alliance Resource Partners from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.

Alliance Resource Partners Stock Performance

NASDAQ:ARLP traded down $0.40 during midday trading on Friday, reaching $27.05. The stock had a trading volume of 180,957 shares, compared to its average volume of 372,194. Alliance Resource Partners, L.P. has a 12-month low of $21.10 and a 12-month high of $30.56. The company has a quick ratio of 1.69, a current ratio of 2.36 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $26.18 and a two-hundred day simple moving average of $26.50. The stock has a market cap of $3.47 billion, a P/E ratio of 9.80 and a beta of 0.62.

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

Alliance Resource Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 10.35%. The ex-dividend date was Friday, February 7th. Alliance Resource Partners's dividend payout ratio (DPR) is currently 101.45%.

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.