Alliance Resource Partners, L.P. (NASDAQ:ARLP – Get Free Report) announced a quarterly dividend on Monday, October 26th. Investors of record on Friday, November 6th will be paid a dividend of $0.60 per share by the energy company on Friday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend is Friday, November 6th.
Alliance Resource Partners has raised its dividend by an average of 0.5% annually over the last three years. Alliance Resource Partners has a payout ratio of 90.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Alliance Resource Partners to earn $2.94 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 81.6%.
Alliance Resource Partners Stock Performance
Shares of Alliance Resource Partners stock opened at $26.13 on Wednesday. The firm’s fifty day simple moving average is $25.77 and its 200-day simple moving average is $25.64. Alliance Resource Partners has a 12 month low of $23.01 and a 12 month high of $29.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 10.89 and a beta of 0.30.
Hedge Funds Weigh In On Alliance Resource Partners
Several institutional investors and hedge funds have recently added to or reduced their stakes in ARLP. BCS Wealth Management lifted its stake in shares of Alliance Resource Partners by 2.1% in the third quarter. BCS Wealth Management now owns 27,761 shares of the energy company’s stock valued at $674,000 after purchasing an additional 568 shares during the period. StoneX Group Inc. acquired a new position in Alliance Resource Partners during the third quarter worth about $209,000. Arrow Investment Advisors LLC increased its holdings in Alliance Resource Partners by 17.6% in the third quarter. Arrow Investment Advisors LLC now owns 9,912 shares of the energy company’s stock valued at $241,000 after buying an additional 1,481 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its position in shares of Alliance Resource Partners by 1.3% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 77,859 shares of the energy company’s stock valued at $1,891,000 after acquiring an additional 1,010 shares during the period. Finally, Kestra Advisory Services LLC lifted its position in shares of Alliance Resource Partners by 1.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 44,264 shares of the energy company’s stock valued at $1,075,000 after acquiring an additional 612 shares during the period. Institutional investors and hedge funds own 18.11% of the company’s stock.
Alliance Resource Partners Company Profile
Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a diversified natural resource company headquartered in Tulsa, Oklahoma. The company’s primary business is the production and marketing of coal, which it supplies to electric utilities and industrial customers in the United States.
Alliance Resource Partners operates coal mines in the Illinois Basin and Appalachia, producing primarily thermal coal used for electricity generation. Its operations include underground and surface mining, coal processing, transportation and marketing activities.
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