128,211 Shares in Alliance Resource Partners, L.P. $ARLP Purchased by Pinnacle Holdings LLC

Pinnacle Holdings LLC bought a new stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 128,211 shares of the energy company’s stock, valued at approximately $3,074,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its holdings in Alliance Resource Partners by 95.4% during the 4th quarter. Morgan Stanley now owns 3,363,174 shares of the energy company’s stock valued at $78,127,000 after acquiring an additional 1,641,741 shares during the period. Energy Income Partners LLC increased its stake in Alliance Resource Partners by 145.9% in the first quarter. Energy Income Partners LLC now owns 737,328 shares of the energy company’s stock worth $20,387,000 after purchasing an additional 437,486 shares during the period. ING Groep NV increased its stake in Alliance Resource Partners by 76.7% in the fourth quarter. ING Groep NV now owns 668,000 shares of the energy company’s stock worth $15,518,000 after purchasing an additional 289,900 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Alliance Resource Partners by 1,636.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 268,637 shares of the energy company’s stock worth $6,792,000 after purchasing an additional 253,165 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Alliance Resource Partners during the first quarter worth $6,830,000. 18.11% of the stock is owned by institutional investors.

Alliance Resource Partners Price Performance

NASDAQ:ARLP opened at $26.30 on Monday. Alliance Resource Partners, L.P. has a 1-year low of $22.20 and a 1-year high of $29.45. The company has a 50-day moving average of $24.82 and a 200 day moving average of $25.67. The firm has a market cap of $3.38 billion, a PE ratio of 12.83 and a beta of 0.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, July 27th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $551.56 million for the quarter, compared to the consensus estimate of $554.30 million. Alliance Resource Partners had a return on equity of 17.70% and a net margin of 12.25%. As a group, research analysts anticipate that Alliance Resource Partners, L.P. will post 2.65 EPS for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend was Friday, August 7th. Alliance Resource Partners’s dividend payout ratio is presently 117.07%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ARLP shares. Weiss Ratings lowered shares of Alliance Resource Partners from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Alliance Resource Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Zacks Research lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Alliance Resource Partners has an average rating of “Moderate Buy” and an average price target of $30.00.

Insider Activity

In other Alliance Resource Partners news, Director Ronna R. Mcdaniel acquired 3,000 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $26.11 per share, for a total transaction of $78,330.00. Following the completion of the purchase, the director owned 3,000 shares in the company, valued at approximately $78,330. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 16.80% of the company’s stock.

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.