Alliance Resource Partners, L.P. $ARLP Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC cut its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 9.6% in the 2nd quarter, Holdings Channel reports. The fund owned 14,150 shares of the energy company’s stock after selling 1,500 shares during the period. DAVENPORT & Co LLC’s holdings in Alliance Resource Partners were worth $370,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ARLP. Farther Finance Advisors LLC grew its stake in shares of Alliance Resource Partners by 321.3% during the first quarter. Farther Finance Advisors LLC now owns 969 shares of the energy company’s stock valued at $26,000 after acquiring an additional 739 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Alliance Resource Partners by 39.4% during the first quarter. Exchange Traded Concepts LLC now owns 101,131 shares of the energy company’s stock valued at $2,759,000 after acquiring an additional 28,608 shares in the last quarter. Inscription Capital LLC acquired a new stake in shares of Alliance Resource Partners during the first quarter valued at about $356,000. Vista Investment Partners LLC grew its stake in shares of Alliance Resource Partners by 4.6% during the first quarter. Vista Investment Partners LLC now owns 363,672 shares of the energy company’s stock valued at $9,921,000 after acquiring an additional 16,041 shares in the last quarter. Finally, Huntleigh Advisors Inc. acquired a new stake in shares of Alliance Resource Partners during the first quarter valued at about $14,190,000. 18.11% of the stock is currently owned by institutional investors and hedge funds.

Alliance Resource Partners Stock Performance

Shares of ARLP stock opened at $25.05 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.37 and a current ratio of 1.96. The company’s 50-day simple moving average is $24.12 and its 200-day simple moving average is $25.65. Alliance Resource Partners, L.P. has a one year low of $22.20 and a one year high of $30.56. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 13.84 and a beta of 0.51.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, July 28th. The energy company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). Alliance Resource Partners had a net margin of 10.30% and a return on equity of 14.27%. The company had revenue of $547.46 million during the quarter, compared to analyst estimates of $583.57 million. Equities analysts anticipate that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current fiscal year.

Alliance Resource Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date was Thursday, August 7th. Alliance Resource Partners’s payout ratio is presently 132.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Alliance Global Partners assumed coverage on shares of Alliance Resource Partners in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Resource Partners in a research report on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $30.00 price target on shares of Alliance Resource Partners in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

About Alliance Resource Partners

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.