Founders Financial Securities LLC bought a new stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 9,910 shares of the energy company’s stock, valued at approximately $242,000.
Several other institutional investors have also recently made changes to their positions in ARLP. Prevail Innovative Wealth Advisors LLC purchased a new position in Alliance Resource Partners in the first quarter valued at $3,566,000. Goldman Sachs Group Inc. raised its holdings in Alliance Resource Partners by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 858,939 shares of the energy company’s stock worth $18,192,000 after purchasing an additional 7,870 shares during the period. J.W. Cole Advisors Inc. grew its holdings in Alliance Resource Partners by 18.4% in the first quarter. J.W. Cole Advisors Inc. now owns 20,102 shares of the energy company’s stock valued at $403,000 after purchasing an additional 3,131 shares during the period. Commonwealth Equity Services LLC grew its holdings in Alliance Resource Partners by 36.5% in the first quarter. Commonwealth Equity Services LLC now owns 53,357 shares of the energy company’s stock valued at $1,070,000 after purchasing an additional 14,255 shares during the period. Finally, MONECO Advisors LLC purchased a new stake in shares of Alliance Resource Partners in the second quarter valued at approximately $230,000. 18.11% of the stock is owned by hedge funds and other institutional investors.
Alliance Resource Partners Trading Up 0.6 %
Shares of ARLP stock opened at $22.97 on Friday. Alliance Resource Partners, L.P. has a fifty-two week low of $18.32 and a fifty-two week high of $26.21. 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’s fifty day moving average is $24.26 and its two-hundred day moving average is $22.59. The firm has a market capitalization of $2.94 billion, a P/E ratio of 5.03 and a beta of 1.13.
Alliance Resource Partners Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.19%. The ex-dividend date of this dividend was Wednesday, August 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 61.27%.
Wall Street Analysts Forecast Growth
ARLP has been the topic of a number of research analyst reports. StockNews.com cut shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Benchmark boosted their price objective on Alliance Resource Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th.
Get Our Latest Research Report on Alliance Resource Partners
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.
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