Crescent Grove Advisors LLC Boosts Stock Holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Crescent Grove Advisors LLC lifted its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 15.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,793 shares of the energy company’s stock after buying an additional 28,016 shares during the quarter. Crescent Grove Advisors LLC owned about 0.16% of Alliance Resource Partners worth $5,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in Alliance Resource Partners during the 1st quarter worth about $23,567,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Alliance Resource Partners in the second quarter worth about $6,595,000. Magnolia Group LLC boosted its position in shares of Alliance Resource Partners by 7.1% in the first quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock valued at $69,050,000 after acquiring an additional 229,700 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in Alliance Resource Partners during the first quarter valued at approximately $3,566,000. Finally, Progeny 3 Inc. grew its stake in Alliance Resource Partners by 5.1% during the first quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock valued at $54,778,000 after acquiring an additional 132,630 shares in the last quarter. 18.11% of the stock is owned by institutional investors.

Alliance Resource Partners Stock Up 1.0 %

ARLP opened at $26.72 on Wednesday. The business’s fifty day simple moving average is $24.57 and its 200 day simple moving average is $24.03. Alliance Resource Partners, L.P. has a 52 week low of $18.32 and a 52 week high of $26.87. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.42 billion, a PE ratio of 7.59 and a beta of 1.14.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, October 28th. The energy company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.16). The business had revenue of $613.57 million for the quarter, compared to the consensus estimate of $646.17 million. Alliance Resource Partners had a net margin of 18.52% and a return on equity of 23.80%. During the same period in the prior year, the business posted $1.18 EPS. As a group, research analysts expect that Alliance Resource Partners, L.P. will post 3.2 earnings per share for the current fiscal year.

Alliance Resource Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 10.48%. The ex-dividend date is Thursday, November 7th. Alliance Resource Partners’s dividend payout ratio (DPR) is currently 79.55%.

Wall Street Analysts Forecast Growth

ARLP has been the subject of several recent analyst reports. StockNews.com lowered Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Benchmark upped their price objective on shares of Alliance Resource Partners from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th.

Alliance Resource Partners Company 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.