Pinnacle Holdings LLC acquired a new position in Alliance Resource Partners, L.P. (NASDAQ:ARLP – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 128,211 shares of the energy company’s stock, valued at approximately $3,074,000. Pinnacle Holdings LLC owned approximately 0.10% of Alliance Resource Partners at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Alliance Resource Partners in the 1st quarter worth $28,000. IFC & Insurance Marketing Inc. bought a new stake in Alliance Resource Partners during the fourth quarter valued at about $35,000. Smartleaf Asset Management LLC purchased a new position in shares of Alliance Resource Partners in the fourth quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Alliance Resource Partners by 135.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,523 shares of the energy company’s stock valued at $39,000 after acquiring an additional 875 shares in the last quarter. Finally, Triumph Capital Management bought a new position in shares of Alliance Resource Partners in the third quarter worth about $46,000. 18.11% of the stock is currently owned by institutional investors.
Alliance Resource Partners Stock Performance
Alliance Resource Partners stock opened at $26.30 on Monday. The company’s 50-day moving average price is $24.82 and its 200-day moving average price is $25.67. The company has a quick ratio of 1.32, a current ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.38 billion, a PE ratio of 12.83 and a beta of 0.22. Alliance Resource Partners, L.P. has a twelve month low of $22.20 and a twelve month high of $29.45.
Alliance Resource Partners Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a $0.60 dividend. The ex-dividend date was Friday, August 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.1%. Alliance Resource Partners’s payout ratio is 117.07%.
Analysts Set New Price Targets
Several research firms recently issued reports on ARLP. Weiss Ratings cut Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Alliance Resource Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Zacks Research lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.
Read Our Latest Analysis on ARLP
Insider Activity at Alliance Resource Partners
In related news, Director Ronna R. Mcdaniel bought 3,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $26.11 per share, with a total value of $78,330.00. Following the transaction, the director owned 3,000 shares in the company, valued at $78,330. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.80% of the company’s stock.
Alliance Resource Partners Company Profile
Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.
The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.
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