Oppenheimer & Co. Inc. Takes Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Oppenheimer & Co. Inc. purchased a new position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 269,638 shares of the energy company’s stock, valued at approximately $6,595,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairbanks Capital Management Inc. increased its stake in shares of Alliance Resource Partners by 5.8% during the 2nd quarter. Fairbanks Capital Management Inc. now owns 306,993 shares of the energy company’s stock worth $7,509,000 after purchasing an additional 16,844 shares during the last quarter. Founders Financial Securities LLC acquired a new position in Alliance Resource Partners during the second quarter worth approximately $242,000. Autumn Glory Partners LLC raised its stake in Alliance Resource Partners by 20.8% in the second quarter. Autumn Glory Partners LLC now owns 52,300 shares of the energy company’s stock valued at $1,279,000 after buying an additional 9,000 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Alliance Resource Partners by 6.8% in the second quarter. Commonwealth Equity Services LLC now owns 56,969 shares of the energy company’s stock valued at $1,393,000 after buying an additional 3,612 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Alliance Resource Partners during the 2nd quarter worth approximately $339,000. 18.11% of the stock is owned by institutional investors.

Alliance Resource Partners Stock Up 0.9 %

Alliance Resource Partners stock opened at $23.47 on Friday. Alliance Resource Partners, L.P. has a twelve month low of $18.32 and a twelve month high of $26.21. The stock has a market cap of $3.01 billion, a P/E ratio of 5.14 and a beta of 1.13. The company’s 50-day moving average price is $24.06 and its two-hundred day moving average price is $22.73. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24.

Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Monday, July 29th. The energy company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.16). The firm had revenue of $593.35 million for the quarter, compared to the consensus estimate of $624.72 million. Alliance Resource Partners had a return on equity of 27.54% and a net margin of 21.04%. During the same quarter last year, the business posted $1.30 EPS. As a group, analysts expect that Alliance Resource Partners, L.P. will post 3.56 EPS for the current year.

Alliance Resource Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 11.93%. The ex-dividend date was Wednesday, August 7th. Alliance Resource Partners’s dividend payout ratio is currently 61.27%.

Analyst Ratings Changes

ARLP has been the topic of a number of research analyst reports. Benchmark increased their price target on Alliance Resource Partners from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. StockNews.com lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

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.