Gabelli Funds LLC cut its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 11.3% during the third quarter, Holdings Channel reports. The fund owned 44,563 shares of the energy company’s stock after selling 5,694 shares during the period. Gabelli Funds LLC’s holdings in Alliance Resource Partners were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARLP. Whittier Trust Co. bought a new stake in Alliance Resource Partners during the 3rd quarter worth approximately $146,000. Moody Aldrich Partners LLC bought a new stake in Alliance Resource Partners during the 3rd quarter worth approximately $248,000. Intrust Bank NA grew its position in Alliance Resource Partners by 36.1% during the 2nd quarter. Intrust Bank NA now owns 14,438 shares of the energy company’s stock worth $265,000 after acquiring an additional 3,831 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Alliance Resource Partners by 29.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock worth $302,000 after acquiring an additional 3,708 shares during the last quarter. Finally, Texas Yale Capital Corp. bought a new position in Alliance Resource Partners in the 2nd quarter valued at $471,000. Institutional investors and hedge funds own 30.79% of the company’s stock.

ARLP has been the topic of a number of recent research reports. ValuEngine upgraded Alliance Resource Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. BidaskClub upgraded Alliance Resource Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research lowered Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Monday. Finally, TheStreet upgraded Alliance Resource Partners from a “c+” rating to a “b” rating in a research report on Monday, October 29th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.20.

Shares of ARLP opened at $19.75 on Friday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 8.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 1.13. Alliance Resource Partners, L.P. has a 52 week low of $15.55 and a 52 week high of $21.90.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, October 29th. The energy company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.20). The firm had revenue of $497.80 million during the quarter, compared to the consensus estimate of $506.23 million. Alliance Resource Partners had a net margin of 19.96% and a return on equity of 25.32%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. Analysts forecast that Alliance Resource Partners, L.P. will post 2.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th were given a $0.525 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $2.10 dividend on an annualized basis and a yield of 10.63%. Alliance Resource Partners’s payout ratio is 73.17%.

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About Alliance Resource Partners

Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.

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Institutional Ownership by Quarter for Alliance Resource Partners (NASDAQ:ARLP)

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