Alliance Resource Partners, L.P. $ARLP Stake Reduced by Progeny 3 Inc.

Progeny 3 Inc. lowered its stake in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 1.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,229,764 shares of the energy company’s stock after selling 52,907 shares during the quarter. Alliance Resource Partners accounts for 4.8% of Progeny 3 Inc.’s portfolio, making the stock its 6th biggest position. Progeny 3 Inc. owned 2.51% of Alliance Resource Partners worth $89,303,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in ARLP. Gateway Wealth Partners LLC bought a new position in shares of Alliance Resource Partners in the first quarter worth approximately $276,000. Mizuho Markets Americas LLC purchased a new stake in Alliance Resource Partners during the 1st quarter valued at $6,830,000. Orvieto Partners L.P. grew its holdings in Alliance Resource Partners by 7.2% in the 1st quarter. Orvieto Partners L.P. now owns 149,064 shares of the energy company’s stock worth $4,122,000 after acquiring an additional 10,000 shares during the last quarter. First Trust Advisors LP grew its holdings in Alliance Resource Partners by 2.9% in the 1st quarter. First Trust Advisors LP now owns 192,532 shares of the energy company’s stock worth $5,324,000 after acquiring an additional 5,450 shares during the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in shares of Alliance Resource Partners in the first quarter valued at about $1,397,000. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Price Performance

Shares of Alliance Resource Partners stock opened at $24.71 on Monday. The company has a current ratio of 1.46, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $24.68 and its two-hundred day simple moving average is $25.50. The company has a market cap of $3.18 billion, a P/E ratio of 13.01 and a beta of 0.23. Alliance Resource Partners, L.P. has a 12-month low of $22.20 and a 12-month high of $29.45.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings data on Monday, April 27th. The energy company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.28). Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%.The company had revenue of $516.02 million during the quarter, compared to the consensus estimate of $518.24 million. Research analysts anticipate that Alliance Resource Partners, L.P. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ARLP shares. Weiss Ratings upgraded shares of Alliance Resource Partners from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Zacks Research upgraded Alliance Resource Partners from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $30.00.

Alliance Resource Partners Profile

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.