Progeny 3 Inc. Sells 161,175 Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Progeny 3 Inc. trimmed its holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 5.9% during the second quarter, Holdings Channel reports. The firm owned 2,570,886 shares of the energy company’s stock after selling 161,175 shares during the quarter. Alliance Resource Partners comprises about 6.2% of Progeny 3 Inc.’s holdings, making the stock its 3rd largest position. Progeny 3 Inc.’s holdings in Alliance Resource Partners were worth $62,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC bought a new position in Alliance Resource Partners during the first quarter worth $3,566,000. Goldman Sachs Group Inc. raised its holdings in shares of Alliance Resource Partners by 0.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 858,939 shares of the energy company’s stock valued at $18,192,000 after purchasing an additional 7,870 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of Alliance Resource Partners by 18.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,102 shares of the energy company’s stock worth $403,000 after purchasing an additional 3,131 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Alliance Resource Partners by 36.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 53,357 shares of the energy company’s stock valued at $1,070,000 after buying an additional 14,255 shares during the period. Finally, MONECO Advisors LLC acquired a new stake in shares of Alliance Resource Partners in the 2nd quarter valued at about $230,000. Institutional investors own 18.11% of the company’s stock.

Analyst Ratings Changes

ARLP has been the topic of several recent research reports. Benchmark increased their price target on Alliance Resource Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com lowered Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

Alliance Resource Partners Stock Down 0.5 %

Alliance Resource Partners stock opened at $24.19 on Tuesday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 5.29 and a beta of 1.13. The firm’s fifty day moving average price is $23.94 and its two-hundred day moving average price is $22.99. Alliance Resource Partners, L.P. has a 1-year low of $18.32 and a 1-year high of $26.21. The company has a current ratio of 2.53, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, July 29th. The energy company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.16). The business had revenue of $593.35 million during the quarter, compared to analyst estimates of $624.72 million. Alliance Resource Partners had a return on equity of 27.54% and a net margin of 21.04%. During the same quarter in the prior year, the company earned $1.30 EPS. On average, equities research analysts predict that Alliance Resource Partners, L.P. will post 3.56 earnings per share for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 11.58%. Alliance Resource Partners’s dividend payout ratio is presently 61.27%.

Alliance Resource Partners Profile

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.