OppenheimerFunds Inc. purchased a new position in Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 413,323 shares of the energy company’s stock, valued at approximately $7,584,000. OppenheimerFunds Inc. owned 0.31% of Alliance Resource Partners at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ARLP. Wells Fargo & Company MN grew its stake in Alliance Resource Partners by 487.9% during the second quarter. Wells Fargo & Company MN now owns 1,204,839 shares of the energy company’s stock valued at $22,109,000 after acquiring an additional 999,910 shares in the last quarter. Bank of Montreal Can lifted its position in Alliance Resource Partners by 64.3% during the second quarter. Bank of Montreal Can now owns 1,047,600 shares of the energy company’s stock valued at $19,223,000 after purchasing an additional 410,000 shares during the last quarter. Selz Capital LLC lifted its position in Alliance Resource Partners by 145.6% during the second quarter. Selz Capital LLC now owns 578,534 shares of the energy company’s stock valued at $10,616,000 after purchasing an additional 342,934 shares during the last quarter. Van ECK Associates Corp lifted its position in Alliance Resource Partners by 124.8% during the second quarter. Van ECK Associates Corp now owns 348,259 shares of the energy company’s stock valued at $6,391,000 after purchasing an additional 193,365 shares during the last quarter. Finally, Meritage Portfolio Management bought a new position in Alliance Resource Partners during the second quarter valued at $3,367,000. Institutional investors and hedge funds own 28.96% of the company’s stock.
ARLP traded down $0.25 on Friday, reaching $19.86. 456,658 shares of the company traded hands, compared to its average volume of 399,510. Alliance Resource Partners, L.P. has a one year low of $15.55 and a one year high of $21.90. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 6.92 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.15 and a quick ratio of 0.90.
Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, July 30th. The energy company reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The business had revenue of $516.10 million for the quarter, compared to the consensus estimate of $491.55 million. Alliance Resource Partners had a net margin of 19.77% and a return on equity of 24.78%. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. On average, equities analysts anticipate that Alliance Resource Partners, L.P. will post 2.71 earnings per share for the current fiscal year.
Several research firms have commented on ARLP. Zacks Investment Research lowered shares of Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BidaskClub lowered shares of Alliance Resource Partners from a “sell” rating to a “strong sell” rating in a report on Friday, July 13th. Finally, ValuEngine upgraded shares of Alliance Resource Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $24.50.
In other Alliance Resource Partners news, Director Nick Carter bought 2,219 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were acquired at an average price of $19.85 per share, with a total value of $44,047.15. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $397,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 44.03% of the company’s stock.
About Alliance Resource Partners
Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.
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