Ronna Mcdaniel Buys 3,000 Shares of Alliance Resource Partners (NASDAQ:ARLP) Stock

Alliance Resource Partners, L.P. (NASDAQ:ARLP) Director Ronna Mcdaniel acquired 3,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $26.11 per share, with a total value of $78,330.00. Following the completion of the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at approximately $78,330. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Alliance Resource Partners Price Performance

NASDAQ ARLP opened at $25.40 on Thursday. 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 market capitalization of $3.27 billion, a PE ratio of 12.39 and a beta of 0.22. The company’s 50 day simple moving average is $24.81 and its 200 day simple moving average is $25.60. 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 (NASDAQ:ARLP) last released its earnings results on Monday, July 27th. The energy company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Alliance Resource Partners had a return on equity of 17.61% and a net margin of 12.25%.The firm had revenue of $551.56 million during the quarter, compared to analyst estimates of $554.30 million. As a group, equities research analysts forecast that Alliance Resource Partners, L.P. will post 2.65 EPS for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.40 annualized dividend and a yield of 9.4%. Alliance Resource Partners’s dividend payout ratio (DPR) is currently 117.07%.

Hedge Funds Weigh In On Alliance Resource Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its stake in Alliance Resource Partners by 734.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,302 shares of the energy company’s stock worth $64,000 after purchasing an additional 2,026 shares in the last quarter. Dayah Capital LLC acquired a new position in shares of Alliance Resource Partners in the first quarter worth about $1,825,000. Bank of America Corp DE increased its position in shares of Alliance Resource Partners by 74.2% in the first quarter. Bank of America Corp DE now owns 269,655 shares of the energy company’s stock worth $7,456,000 after acquiring an additional 114,880 shares in the last quarter. Parvin Asset Management LLC increased its position in shares of Alliance Resource Partners by 29.5% in the first quarter. Parvin Asset Management LLC now owns 20,075 shares of the energy company’s stock worth $555,000 after acquiring an additional 4,575 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Alliance Resource Partners by 26.9% in the 1st quarter. Royal Bank of Canada now owns 27,356 shares of the energy company’s stock valued at $756,000 after acquiring an additional 5,794 shares in the last quarter. Institutional investors and hedge funds own 18.11% of the company’s stock.

Analyst Ratings Changes

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