Insider Buying: Alliance Resource Partners (NASDAQ:ARLP) Director Purchases 3,000 Shares

Alliance Resource Partners, L.P. (NASDAQ:ARLP) Director Ronna Mcdaniel acquired 3,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $26.11 per share, with a total value of $78,330.00. Following the purchase, the director owned 3,000 shares in the company, valued at $78,330. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Alliance Resource Partners Stock Up 0.4%

ARLP stock traded up $0.09 during midday trading on Tuesday, hitting $26.21. 80,981 shares of the company’s stock were exchanged, compared to its average volume of 370,519. The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Alliance Resource Partners, L.P. has a 12-month low of $22.20 and a 12-month high of $29.45. The firm has a 50 day moving average price of $24.79 and a 200-day moving average price of $25.58. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 12.79 and a beta of 0.22.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, July 27th. The energy company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Alliance Resource Partners had a net margin of 12.25% and a return on equity of 17.61%. The business had revenue of $551.56 million for the quarter, compared to analysts’ expectations of $554.30 million. On average, analysts anticipate that Alliance Resource Partners, L.P. will post 2.65 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.40 annualized dividend and a yield of 9.2%. Alliance Resource Partners’s dividend payout ratio is currently 117.07%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARLP. Weiss Ratings raised shares of Alliance Resource Partners from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Zacks Research raised shares of Alliance Resource Partners from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $30.00.

Hedge Funds Weigh In On Alliance Resource Partners

A number of hedge funds have recently added to or reduced their stakes in ARLP. Morgan Stanley raised its holdings in shares of Alliance Resource Partners by 95.4% during the fourth quarter. Morgan Stanley now owns 3,363,174 shares of the energy company’s stock worth $78,127,000 after purchasing an additional 1,641,741 shares during the period. Progeny 3 Inc. boosted its holdings in shares of Alliance Resource Partners by 0.3% in the 4th quarter. Progeny 3 Inc. now owns 3,282,671 shares of the energy company’s stock valued at $76,256,000 after buying an additional 8,290 shares during the period. Energy Income Partners LLC boosted its holdings in shares of Alliance Resource Partners by 145.9% in the 1st quarter. Energy Income Partners LLC now owns 737,328 shares of the energy company’s stock valued at $20,387,000 after buying an additional 437,486 shares during the period. ING Groep NV grew its position in shares of Alliance Resource Partners by 76.7% during the 4th quarter. ING Groep NV now owns 668,000 shares of the energy company’s stock valued at $15,518,000 after buying an additional 289,900 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Alliance Resource Partners by 3.3% during the 3rd quarter. Barclays PLC now owns 657,191 shares of the energy company’s stock valued at $16,617,000 after buying an additional 21,116 shares during the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

About Alliance Resource Partners

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.