JPMorgan Chase & Co. Sells 99,931 Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP)

JPMorgan Chase & Co. cut its stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,770,817 shares of the energy company’s stock after selling 99,931 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.38% of Alliance Resource Partners worth $44,270,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Alliance Resource Partners by 6.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 56,969 shares of the energy company’s stock valued at $1,393,000 after purchasing an additional 3,612 shares during the last quarter. Fairbanks Capital Management Inc. boosted its position in Alliance Resource Partners by 5.8% during the second quarter. Fairbanks Capital Management Inc. now owns 306,993 shares of the energy company’s stock valued at $7,509,000 after acquiring an additional 16,844 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Alliance Resource Partners during the second quarter valued at $6,595,000. J.W. Cole Advisors Inc. grew its holdings in Alliance Resource Partners by 4.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 20,949 shares of the energy company’s stock worth $512,000 after acquiring an additional 847 shares during the period. Finally, Legacy Financial Group Inc. bought a new position in shares of Alliance Resource Partners in the 2nd quarter worth about $226,000. Institutional investors own 18.11% of the company’s stock.

Insider Buying and Selling

In other news, SVP Timothy J. Whelan sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.00, for a total value of $280,000.00. Following the completion of the transaction, the senior vice president now directly owns 157,946 shares of the company’s stock, valued at $4,422,488. This trade represents a 5.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARLP. Benchmark increased their price target on Alliance Resource Partners from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. StockNews.com lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Singular Research downgraded shares of Alliance Resource Partners from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, December 2nd.

Alliance Resource Partners Trading Down 0.2 %

NASDAQ ARLP opened at $26.57 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.40 billion, a P/E ratio of 7.55 and a beta of 1.16. The business has a fifty day simple moving average of $26.60 and a 200 day simple moving average of $25.16. Alliance Resource Partners, L.P. has a 12 month low of $18.32 and a 12 month high of $29.44.

Alliance Resource Partners (NASDAQ:ARLP) last released its earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.16). The business had revenue of $613.57 million during the quarter, compared to the consensus estimate of $646.17 million. Alliance Resource Partners had a net margin of 18.52% and a return on equity of 23.74%. During the same period in the prior year, the company earned $1.18 earnings per share. On average, analysts predict that Alliance Resource Partners, L.P. will post 3.19 EPS for the current fiscal year.

Alliance Resource Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.80 annualized dividend and a dividend yield of 10.54%. Alliance Resource Partners’s payout ratio is 79.55%.

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.