CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 38.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 250,000 shares of the energy company’s stock after acquiring an additional 70,000 shares during the quarter. Alliance Resource Partners comprises approximately 0.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 29th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Alliance Resource Partners were worth $6,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARLP. U S Global Investors Inc. bought a new stake in shares of Alliance Resource Partners in the 1st quarter worth approximately $382,000. Jaffetilchin Investment Partners LLC raised its holdings in shares of Alliance Resource Partners by 9.2% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 33,078 shares of the energy company’s stock worth $902,000 after purchasing an additional 2,798 shares during the period. Hidden Cove Wealth Management LLC raised its holdings in shares of Alliance Resource Partners by 100.1% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 70,159 shares of the energy company’s stock worth $1,914,000 after purchasing an additional 35,100 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Alliance Resource Partners by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,903 shares of the energy company’s stock worth $761,000 after purchasing an additional 1,070 shares during the period. Finally, Huntleigh Advisors Inc. bought a new stake in shares of Alliance Resource Partners in the 1st quarter worth approximately $14,190,000. Hedge funds and other institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Trading Up 0.4%

Shares of ARLP stock opened at $25.54 on Friday. The company’s fifty day simple moving average is $26.26 and its two-hundred day simple moving average is $26.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.37. Alliance Resource Partners, L.P. has a 1 year low of $22.18 and a 1 year high of $30.56. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 12.05 and a beta of 0.56.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, April 28th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). Alliance Resource Partners had a net margin of 11.84% and a return on equity of 15.77%. The business had revenue of $540.47 million for the quarter, compared to the consensus estimate of $556.31 million. As a group, analysts anticipate that Alliance Resource Partners, L.P. will post 2.72 earnings per share for the current year.

Alliance Resource Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, May 8th. This represents a $2.80 dividend on an annualized basis and a yield of 10.96%. Alliance Resource Partners’s payout ratio is 132.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ARLP shares. Wall Street Zen raised shares of Alliance Resource Partners from a “hold” rating to a “buy” rating in a report on Sunday, May 4th. Benchmark reaffirmed a “buy” rating and issued a $29.00 price target on shares of Alliance Resource Partners in a report on Tuesday, April 29th.

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.