Pinnacle Financial Partners Inc. lifted its holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 9.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,548 shares of the energy company’s stock after purchasing an additional 1,478 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Alliance Resource Partners were worth $298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Magnolia Group LLC raised its stake in Alliance Resource Partners by 18.9% in the second quarter. Magnolia Group LLC now owns 3,094,092 shares of the energy company’s stock worth $52,538,000 after buying an additional 490,984 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Alliance Resource Partners during the 1st quarter worth $1,956,000. Foundry Partners LLC boosted its position in Alliance Resource Partners by 11.0% during the second quarter. Foundry Partners LLC now owns 389,237 shares of the energy company’s stock valued at $6,609,000 after purchasing an additional 38,480 shares in the last quarter. Moody Aldrich Partners LLC boosted its position in Alliance Resource Partners by 346.5% during the second quarter. Moody Aldrich Partners LLC now owns 44,307 shares of the energy company’s stock valued at $752,000 after purchasing an additional 34,383 shares in the last quarter. Finally, HAP Trading LLC bought a new stake in Alliance Resource Partners during the first quarter valued at about $552,000. Hedge funds and other institutional investors own 23.16% of the company’s stock.

A number of equities analysts have commented on ARLP shares. BidaskClub upgraded shares of Alliance Resource Partners from a “sell” rating to a “hold” rating in a report on Friday, September 6th. TheStreet cut shares of Alliance Resource Partners from a “b-” rating to a “c+” rating in a report on Monday, August 19th. Zacks Investment Research downgraded shares of Alliance Resource Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. downgraded shares of Alliance Resource Partners from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Monday, August 19th. Finally, Clarkson Capital began coverage on shares of Alliance Resource Partners in a research note on Tuesday, July 9th. They set a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.75.

Shares of ARLP traded down $0.14 during midday trading on Wednesday, hitting $16.54. 7,929 shares of the company’s stock traded hands, compared to its average volume of 379,836. Alliance Resource Partners, L.P. has a 1 year low of $14.41 and a 1 year high of $20.99. The firm’s fifty day moving average is $18.01 and its 200-day moving average is $21.25. The company has a current ratio of 1.02, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 6.78 and a beta of 0.98.

Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Friday, July 26th. The energy company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.21). Alliance Resource Partners had a return on equity of 27.63% and a net margin of 22.14%. The business had revenue of $517.10 million for the quarter, compared to analysts’ expectations of $531.10 million. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Alliance Resource Partners, L.P. will post 2.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a $0.54 dividend. The ex-dividend date was Tuesday, August 6th. This is a boost from Alliance Resource Partners’s previous quarterly dividend of $0.54. This represents a $2.16 dividend on an annualized basis and a yield of 13.06%. Alliance Resource Partners’s dividend payout ratio (DPR) is 88.52%.

In other news, Director Robert J. Druten sold 12,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $17.13, for a total transaction of $205,560.00. Following the transaction, the director now owns 25,628 shares in the company, valued at $439,007.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Wilson M. Torrence acquired 5,600 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $15.42 per share, for a total transaction of $86,352.00. Following the acquisition, the director now owns 39,096 shares of the company’s stock, valued at $602,860.32. The disclosure for this purchase can be found here. 44.03% of the stock is currently owned by company insiders.

Alliance Resource Partners Company Profile

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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