Wealth Enhancement Advisory Services LLC Decreases Stock Holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Wealth Enhancement Advisory Services LLC cut its holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 39.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,893 shares of the energy company’s stock after selling 5,882 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Alliance Resource Partners were worth $222,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ARLP. Pathway Financial Advisers LLC lifted its position in Alliance Resource Partners by 2,400.0% during the third quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company’s stock valued at $1,692,000 after purchasing an additional 64,968 shares during the last quarter. Dakota Wealth Management bought a new position in shares of Alliance Resource Partners in the 3rd quarter valued at about $251,000. International Assets Investment Management LLC purchased a new stake in Alliance Resource Partners during the third quarter valued at approximately $7,500,000. Eastern Bank purchased a new position in shares of Alliance Resource Partners in the 3rd quarter worth approximately $72,000. Finally, Cadent Capital Advisors LLC increased its position in shares of Alliance Resource Partners by 11.3% during the 3rd quarter. Cadent Capital Advisors LLC now owns 23,363 shares of the energy company’s stock valued at $584,000 after purchasing an additional 2,377 shares during the last quarter. Institutional investors own 18.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com upgraded Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Benchmark raised their target price on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th.

Alliance Resource Partners Trading Up 1.9 %

ARLP opened at $26.17 on Tuesday. Alliance Resource Partners, L.P. has a one year low of $18.32 and a one year high of $27.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 7.43 and a beta of 1.14. The stock’s 50 day moving average price is $24.83 and its 200-day moving average price is $24.22.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.16). The business had revenue of $613.57 million during the quarter, compared to analysts’ expectations of $646.17 million. Alliance Resource Partners had a return on equity of 23.80% and a net margin of 18.52%. During the same quarter in the previous year, the business earned $1.18 EPS. On average, equities analysts forecast that Alliance Resource Partners, L.P. will post 3.2 EPS for the current year.

Alliance Resource Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.80 dividend on an annualized basis and a yield of 10.70%. Alliance Resource Partners’s payout ratio is 79.55%.

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.