Hidden Cove Wealth Management LLC Purchases New Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Hidden Cove Wealth Management LLC acquired a new position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 35,059 shares of the energy company’s stock, valued at approximately $922,000. Alliance Resource Partners accounts for 0.7% of Hidden Cove Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Progeny 3 Inc. grew its position in shares of Alliance Resource Partners by 3.4% during the 3rd quarter. Progeny 3 Inc. now owns 2,904,181 shares of the energy company’s stock worth $72,605,000 after buying an additional 96,780 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in Alliance Resource Partners during the 3rd quarter worth about $29,144,000. Recurrent Investment Advisors LLC grew its holdings in Alliance Resource Partners by 6.2% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,145,145 shares of the energy company’s stock worth $28,629,000 after acquiring an additional 66,761 shares in the last quarter. Crescent Grove Advisors LLC increased its position in Alliance Resource Partners by 15.5% during the 3rd quarter. Crescent Grove Advisors LLC now owns 208,793 shares of the energy company’s stock valued at $5,220,000 after purchasing an additional 28,016 shares during the period. Finally, Optimist Retirement Group LLC raised its holdings in shares of Alliance Resource Partners by 1.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 93,462 shares of the energy company’s stock valued at $2,337,000 after purchasing an additional 1,691 shares in the last quarter. 18.11% of the stock is owned by institutional investors.

Alliance Resource Partners Stock Performance

ARLP stock opened at $26.16 on Thursday. Alliance Resource Partners, L.P. has a one year low of $18.32 and a one year high of $30.56. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 9.48 and a beta of 1.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 2.36. The firm has a 50-day simple moving average of $26.89 and a two-hundred day simple moving average of $25.67.

Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, February 3rd. The energy company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Alliance Resource Partners had a net margin of 14.74% and a return on equity of 19.09%. On average, equities analysts forecast that Alliance Resource Partners, L.P. will post 2.72 EPS for the current fiscal year.

Alliance Resource Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 10.70%. Alliance Resource Partners’s payout ratio is 101.45%.

Insider Buying and Selling

In related news, SVP Timothy J. Whelan sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $28.00, for a total value of $280,000.00. Following the completion of the transaction, the senior vice president now directly owns 157,946 shares of the company’s stock, valued at $4,422,488. This trade represents a 5.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ARLP shares. Singular Research downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, December 2nd. StockNews.com cut Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Benchmark reissued a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of Alliance Resource Partners in a research report on Tuesday, February 4th.

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.