Alliance Resource Partners, L.P. (NASDAQ:ARLP) Short Interest Down 7.5% in September

Alliance Resource Partners, L.P. (NASDAQ:ARLP) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 3,830,000 shares, a decline of 7.5% from the August 31st total of 4,140,000 shares. Based on an average daily trading volume, of 300,100 shares, the short-interest ratio is presently 12.8 days. Currently, 4.3% of the shares of the company are sold short.

Alliance Resource Partners Price Performance

ARLP stock opened at $25.00 on Tuesday. The firm has a 50 day moving average of $23.87 and a 200-day moving average of $23.17. The firm has a market capitalization of $3.20 billion, a P/E ratio of 5.47 and a beta of 1.13. Alliance Resource Partners has a 12 month low of $18.32 and a 12 month high of $26.21. The company has a current ratio of 2.53, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

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

Alliance Resource Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 11.20%. Alliance Resource Partners’s dividend payout ratio (DPR) is currently 61.27%.

Institutional Trading of Alliance Resource Partners

Institutional investors have recently made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC purchased a new stake in Alliance Resource Partners in the 1st quarter worth approximately $23,567,000. Oppenheimer & Co. Inc. purchased a new position in shares of Alliance Resource Partners in the 2nd quarter valued at approximately $6,595,000. Magnolia Group LLC boosted its position in shares of Alliance Resource Partners by 7.1% during the first quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock valued at $69,050,000 after purchasing an additional 229,700 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in Alliance Resource Partners in the first quarter worth $3,566,000. Finally, Progeny 3 Inc. raised its holdings in Alliance Resource Partners by 5.1% in the first quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock worth $54,778,000 after purchasing an additional 132,630 shares in the last quarter. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARLP. StockNews.com downgraded Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Benchmark increased their price objective on Alliance Resource Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th.

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.