Progeny 3 Inc. Has $62.88 Million Stock Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Progeny 3 Inc. trimmed its position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,570,886 shares of the energy company’s stock after selling 161,175 shares during the quarter. Alliance Resource Partners accounts for 6.2% of Progeny 3 Inc.’s holdings, making the stock its 3rd largest holding. Progeny 3 Inc. owned 2.01% of Alliance Resource Partners worth $62,884,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. American Financial Group Inc. lifted its holdings in shares of Alliance Resource Partners by 2.0% in the first quarter. American Financial Group Inc. now owns 25,500 shares of the energy company’s stock worth $511,000 after acquiring an additional 500 shares during the last quarter. BCS Wealth Management lifted its stake in Alliance Resource Partners by 3.0% in the 2nd quarter. BCS Wealth Management now owns 18,439 shares of the energy company’s stock valued at $451,000 after purchasing an additional 536 shares during the last quarter. Andina Capital Management LLC lifted its stake in Alliance Resource Partners by 3.9% in the 2nd quarter. Andina Capital Management LLC now owns 14,426 shares of the energy company’s stock valued at $353,000 after purchasing an additional 537 shares during the last quarter. Beacon Capital Management LLC boosted its position in Alliance Resource Partners by 135.8% in the second quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company’s stock valued at $36,000 after buying an additional 842 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in shares of Alliance Resource Partners by 4.2% during the second quarter. J.W. Cole Advisors Inc. now owns 20,949 shares of the energy company’s stock worth $512,000 after buying an additional 847 shares during the last quarter. 18.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARLP. Benchmark increased their price target on Alliance Resource Partners from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. StockNews.com downgraded Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st.

Alliance Resource Partners Trading Down 0.5 %

Shares of NASDAQ ARLP opened at $24.19 on Tuesday. The firm has a 50 day moving average price of $23.94 and a two-hundred day moving average price of $22.99. The stock has a market cap of $3.10 billion, a P/E ratio of 5.29 and a beta of 1.13. Alliance Resource Partners, L.P. has a 52-week low of $18.32 and a 52-week high of $26.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, July 29th. The energy company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.16). The company had revenue of $593.35 million during the quarter, compared to analyst estimates of $624.72 million. Alliance Resource Partners had a net margin of 21.04% and a return on equity of 27.54%. During the same quarter in the previous year, the company earned $1.30 earnings per share. As a group, equities analysts forecast that Alliance Resource Partners, L.P. will post 3.56 EPS for the current year.

Alliance Resource Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 11.58%. The ex-dividend date was Wednesday, August 7th. Alliance Resource Partners’s dividend payout ratio is currently 61.27%.

Alliance Resource Partners 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.