Wealth Enhancement Advisory Services LLC Has $222,000 Stock Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 39.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,893 shares of the energy company’s stock after selling 5,882 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Alliance Resource Partners were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ARLP. Pathway Financial Advisers LLC lifted its position in Alliance Resource Partners by 2,400.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 67,675 shares of the energy company’s stock worth $1,692,000 after buying an additional 64,968 shares in the last quarter. Dakota Wealth Management bought a new position in shares of Alliance Resource Partners in the third quarter worth about $251,000. International Assets Investment Management LLC acquired a new stake in shares of Alliance Resource Partners during the 3rd quarter valued at $7,500,000. Eastern Bank bought a new position in shares of Alliance Resource Partners during the third quarter valued at $72,000. Finally, Cadent Capital Advisors LLC lifted its position in shares of Alliance Resource Partners by 11.3% in the 3rd quarter. Cadent Capital Advisors LLC now owns 23,363 shares of the energy company’s stock worth $584,000 after purchasing an additional 2,377 shares during the period. 18.11% of the stock is owned by institutional investors and hedge funds.

Alliance Resource Partners Stock Performance

NASDAQ ARLP opened at $26.17 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 7.43 and a beta of 1.14. The company has a 50-day simple moving average of $24.83 and a two-hundred day simple moving average of $24.22. Alliance Resource Partners, L.P. has a 12-month low of $18.32 and a 12-month high of $27.80.

Alliance Resource Partners (NASDAQ:ARLP) last issued its quarterly earnings results on Monday, October 28th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.16). The business had revenue of $613.57 million for the quarter, compared to analysts’ expectations of $646.17 million. Alliance Resource Partners had a net margin of 18.52% and a return on equity of 23.80%. During the same period last year, the business earned $1.18 earnings per share. On average, equities analysts forecast that Alliance Resource Partners, L.P. will post 3.2 EPS for the current year.

Alliance Resource Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.80 annualized dividend and a dividend yield of 10.70%. Alliance Resource Partners’s payout ratio is 79.55%.

Analyst Ratings Changes

A number of research analysts have weighed in on ARLP shares. StockNews.com raised shares of Alliance Resource Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Benchmark lifted their price target on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 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.