Short Interest in Alliance Resource Partners, L.P. (NASDAQ:ARLP) Grows By 6.8%

Alliance Resource Partners, L.P. (NASDAQ:ARLP) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totalling 4,060,000 shares, a growth of 6.8% from the June 30th total of 3,800,000 shares. Approximately 4.6% of the company’s stock are short sold. Based on an average daily volume of 413,200 shares, the days-to-cover ratio is currently 9.8 days.

Institutional Investors Weigh In On Alliance Resource Partners

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Alliance Resource Partners by 23.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 348,187 shares of the energy company’s stock valued at $7,375,000 after purchasing an additional 65,611 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Alliance Resource Partners during the 1st quarter worth about $3,566,000. Crescent Grove Advisors LLC grew its position in shares of Alliance Resource Partners by 87.6% during the 4th quarter. Crescent Grove Advisors LLC now owns 169,498 shares of the energy company’s stock valued at $3,590,000 after acquiring an additional 79,155 shares during the period. Custom Index Systems LLC purchased a new position in shares of Alliance Resource Partners in the 4th quarter valued at about $1,495,000. Finally, Magnolia Group LLC raised its holdings in Alliance Resource Partners by 6.0% in the 4th quarter. Magnolia Group LLC now owns 3,214,171 shares of the energy company’s stock worth $68,076,000 after purchasing an additional 180,720 shares during the period. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Stock Performance

NASDAQ ARLP traded up $0.24 on Wednesday, hitting $24.69. 100,834 shares of the company’s stock traded hands, compared to its average volume of 431,854. The firm’s 50-day moving average price is $24.47 and its two-hundred day moving average price is $22.10. The firm has a market capitalization of $3.16 billion, a PE ratio of 5.35 and a beta of 1.15. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.18. Alliance Resource Partners has a 1-year low of $18.32 and a 1-year high of $26.21.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings results on Monday, July 29th. The energy company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.16). The business had revenue of $593.35 million during the quarter, compared to analysts’ expectations of $624.72 million. Alliance Resource Partners had a net margin of 21.04% and a return on equity of 27.75%. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, analysts expect that Alliance Resource Partners will post 3.72 EPS for the current year.

Alliance Resource Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 11.34%. The ex-dividend date of this dividend is Wednesday, August 7th. Alliance Resource Partners’s dividend payout ratio is currently 61.27%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARLP. StockNews.com upgraded shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Benchmark boosted their price target on Alliance Resource Partners from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday.

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.