Magnolia Group LLC lifted its position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 124.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,478,520 shares of the energy company’s stock after acquiring an additional 1,374,271 shares during the quarter. Alliance Resource Partners makes up about 6.7% of Magnolia Group LLC’s investment portfolio, making the stock its 6th largest position. Magnolia Group LLC owned approximately 1.90% of Alliance Resource Partners worth $42,978,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of ARLP. Abacus Planning Group Inc. acquired a new stake in Alliance Resource Partners during the fourth quarter worth about $364,000. Marshall Wace LLP acquired a new position in Alliance Resource Partners in the third quarter worth $7,969,000. Jane Street Group LLC bought a new stake in shares of Alliance Resource Partners in the third quarter worth about $757,000. LPL Financial LLC lifted its position in shares of Alliance Resource Partners by 32.2% in the third quarter. LPL Financial LLC now owns 39,834 shares of the energy company’s stock valued at $813,000 after buying an additional 9,703 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in Alliance Resource Partners by 50.5% during the 3rd quarter. First Republic Investment Management Inc. now owns 47,148 shares of the energy company’s stock worth $962,000 after buying an additional 15,830 shares during the period. 27.48% of the stock is owned by hedge funds and other institutional investors.
ARLP traded up $0.09 during midday trading on Friday, hitting $19.05. 265,814 shares of the company were exchanged, compared to its average volume of 371,611. The company has a market capitalization of $2.48 billion, a PE ratio of 7.81 and a beta of 1.01. Alliance Resource Partners, L.P. has a 1-year low of $15.55 and a 1-year high of $20.99. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34.
Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, January 28th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.39). The firm had revenue of $531.80 million during the quarter, compared to analysts’ expectations of $538.50 million. Alliance Resource Partners had a return on equity of 26.19% and a net margin of 18.30%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities research analysts predict that Alliance Resource Partners, L.P. will post 2.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Thursday, February 7th were issued a dividend of $0.53 per share. This is a positive change from Alliance Resource Partners’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 11.13%. The ex-dividend date was Wednesday, February 6th. Alliance Resource Partners’s dividend payout ratio is currently 86.89%.
Several brokerages have commented on ARLP. BidaskClub lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 12th. Zacks Investment Research raised shares of Alliance Resource Partners from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a report on Thursday, January 3rd. ValuEngine upgraded shares of Alliance Resource Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, TheStreet upgraded shares of Alliance Resource Partners from a “c+” rating to a “b” rating in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $21.00.
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Alliance Resource Partners Company Profile
Alliance Resource Partners LP produces and markets coal to United States utilities and industrial users. It operates through the following segments: Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment is comprised of Webster County coal’s Dotiki mining complex, Gibson mining complex, which includes the Gibson north mine and the Gibson south project, Hopkins County coal’s Elk Creek mining complex, White County coal’s Pattiki mining complex, Warrior’s mining complex, River View’s mining complex, the Sebree property and certain properties of Alliance Resource Properties and ARP Sebree LLC.
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