JPMorgan Chase & Co. Grows Stock Holdings in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

JPMorgan Chase & Co. lifted its position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,815,453 shares of the energy company’s stock after buying an additional 44,636 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.42% of Alliance Resource Partners worth $47,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in Alliance Resource Partners during the fourth quarter worth about $26,000. USA Financial Formulas acquired a new position in shares of Alliance Resource Partners in the fourth quarter valued at approximately $33,000. Bogart Wealth LLC purchased a new stake in Alliance Resource Partners during the 4th quarter worth approximately $127,000. MONECO Advisors LLC acquired a new stake in Alliance Resource Partners during the 4th quarter worth approximately $201,000. Finally, Meridian Wealth Management LLC purchased a new position in Alliance Resource Partners in the 4th quarter valued at approximately $202,000. Institutional investors and hedge funds own 18.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ARLP shares. StockNews.com cut Alliance Resource Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Benchmark reiterated a “buy” rating and issued a $29.00 price objective (up previously from $27.00) on shares of Alliance Resource Partners in a research note on Tuesday, February 4th.

Alliance Resource Partners Price Performance

Shares of ARLP opened at $25.04 on Friday. 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’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $26.32. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 9.07 and a beta of 0.62. Alliance Resource Partners, L.P. has a twelve month low of $20.59 and a twelve month high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, February 3rd. The energy company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Alliance Resource Partners had a return on equity of 19.09% and a net margin of 14.74%. Equities analysts forecast that Alliance Resource Partners, L.P. will post 2.72 EPS for the current fiscal year.

Alliance Resource Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $2.80 annualized dividend and a yield of 11.18%. Alliance Resource Partners’s dividend payout ratio is currently 101.45%.

Insiders Place Their Bets

In other Alliance Resource Partners news, SVP Timothy J. Whelan sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $25.13, for a total transaction of $1,256,500.00. Following the transaction, the senior vice president now owns 93,850 shares of the company’s stock, valued at approximately $2,358,450.50. This trade represents a 34.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.80% of the stock is owned by corporate insiders.

About Alliance Resource Partners

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.