SteelPeak Wealth LLC Acquires New Position in Alliance Resource Partners, L.P. $ARLP

SteelPeak Wealth LLC bought a new position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the first quarter, HoldingsChannel.com reports. The firm bought 50,540 shares of the energy company’s stock, valued at approximately $1,397,000.

Other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its holdings in Alliance Resource Partners by 95.4% in the fourth quarter. Morgan Stanley now owns 3,363,174 shares of the energy company’s stock valued at $78,127,000 after purchasing an additional 1,641,741 shares during the period. Progeny 3 Inc. increased its holdings in Alliance Resource Partners by 0.3% during the 4th quarter. Progeny 3 Inc. now owns 3,282,671 shares of the energy company’s stock worth $76,256,000 after purchasing an additional 8,290 shares during the period. ING Groep NV raised its position in Alliance Resource Partners by 76.7% in the 4th quarter. ING Groep NV now owns 668,000 shares of the energy company’s stock valued at $15,518,000 after purchasing an additional 289,900 shares in the last quarter. Barclays PLC raised its position in Alliance Resource Partners by 3.3% in the 3rd quarter. Barclays PLC now owns 657,191 shares of the energy company’s stock valued at $16,617,000 after purchasing an additional 21,116 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alliance Resource Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company’s stock valued at $13,552,000 after purchasing an additional 23,579 shares in the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

Alliance Resource Partners Stock Performance

NASDAQ:ARLP opened at $24.42 on Friday. The firm has a market capitalization of $3.14 billion, a PE ratio of 12.85 and a beta of 0.23. The business’s fifty day moving average price is $24.71 and its 200 day moving average price is $25.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.46 and a quick ratio of 0.95. Alliance Resource Partners, L.P. has a 12 month low of $22.20 and a 12 month high of $29.45.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings data on Monday, April 27th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.28). The business had revenue of $516.02 million for the quarter, compared to analyst estimates of $518.24 million. Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%. On average, sell-side analysts anticipate that Alliance Resource Partners, L.P. will post 2.53 earnings per share for the current fiscal year.

Alliance Resource Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a $0.60 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.40 annualized dividend and a dividend yield of 9.8%. Alliance Resource Partners’s dividend payout ratio is presently 126.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARLP. Zacks Research raised Alliance Resource Partners from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen cut shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $30.00.

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.