Oppenheimer & Co. Inc. Makes New Investment in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Oppenheimer & Co. Inc. purchased a new stake in Alliance Resource Partners, L.P. (NASDAQ:ARLP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 269,638 shares of the energy company’s stock, valued at approximately $6,595,000. Oppenheimer & Co. Inc. owned about 0.21% of Alliance Resource Partners at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new position in Alliance Resource Partners in the first quarter valued at about $23,567,000. ING Groep NV lifted its holdings in shares of Alliance Resource Partners by 62.9% during the 4th quarter. ING Groep NV now owns 684,000 shares of the energy company’s stock valued at $14,487,000 after purchasing an additional 264,000 shares in the last quarter. Magnolia Group LLC grew its position in shares of Alliance Resource Partners by 7.1% in the 1st quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock valued at $69,050,000 after purchasing an additional 229,700 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new stake in Alliance Resource Partners during the 1st quarter worth approximately $3,566,000. Finally, Progeny 3 Inc. raised its holdings in Alliance Resource Partners by 5.1% during the 1st quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock worth $54,778,000 after buying an additional 132,630 shares during the period. 18.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ARLP shares. Benchmark upped their price target on shares of Alliance Resource Partners from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st.

Alliance Resource Partners Stock Up 0.9 %

NASDAQ:ARLP opened at $23.47 on Friday. The company has a market cap of $3.01 billion, a PE ratio of 5.14 and a beta of 1.13. The stock has a 50-day simple moving average of $24.06 and a 200 day simple moving average of $22.73. 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, L.P. has a 52-week low of $18.32 and a 52-week high of $26.21.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, July 29th. The energy company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.16). The business had revenue of $593.35 million for the quarter, compared to the consensus estimate of $624.72 million. Alliance Resource Partners had a return on equity of 27.54% and a net margin of 21.04%. During the same period in the prior year, the business earned $1.30 earnings per share. On average, sell-side analysts expect that Alliance Resource Partners, L.P. will post 3.56 EPS for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 7th. This represents a $2.80 annualized dividend and a yield of 11.93%. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 61.27%.

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.