JPMorgan Chase & Co. Cuts Position in Alliance Resource Partners, L.P. (NASDAQ:ARLP)

JPMorgan Chase & Co. decreased its position in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) by 5.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,770,817 shares of the energy company’s stock after selling 99,931 shares during the period. JPMorgan Chase & Co.’s holdings in Alliance Resource Partners were worth $44,270,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in Alliance Resource Partners by 1.2% in the third quarter. Tidal Investments LLC now owns 34,283 shares of the energy company’s stock worth $857,000 after buying an additional 391 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in shares of Alliance Resource Partners by 0.9% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 46,905 shares of the energy company’s stock worth $1,173,000 after acquiring an additional 400 shares during the last quarter. AlphaCore Capital LLC boosted its stake in shares of Alliance Resource Partners by 3.0% in the 3rd quarter. AlphaCore Capital LLC now owns 17,203 shares of the energy company’s stock valued at $430,000 after purchasing an additional 503 shares in the last quarter. Andina Capital Management LLC boosted its stake in shares of Alliance Resource Partners by 5.2% in the 3rd quarter. Andina Capital Management LLC now owns 15,171 shares of the energy company’s stock valued at $379,000 after purchasing an additional 745 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Alliance Resource Partners by 3.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 21,746 shares of the energy company’s stock valued at $544,000 after purchasing an additional 797 shares during the last quarter. Institutional investors own 18.11% of the company’s stock.

Alliance Resource Partners Trading Down 0.2 %

Shares of NASDAQ ARLP opened at $26.57 on Monday. The stock has a market cap of $3.40 billion, a P/E ratio of 7.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.36 and a quick ratio of 1.69. Alliance Resource Partners, L.P. has a 1 year low of $18.32 and a 1 year high of $29.44. The firm has a 50-day moving average of $26.60 and a 200 day moving average of $25.16.

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

Alliance Resource Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.80 annualized dividend and a yield of 10.54%. Alliance Resource Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analysts Set New Price Targets

Several research firms have recently commented on ARLP. StockNews.com downgraded Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Singular Research cut Alliance Resource Partners from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, December 2nd. Finally, Benchmark increased their price objective on Alliance Resource Partners from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th.

Insider Buying and Selling at Alliance Resource Partners

In other news, SVP Timothy J. Whelan sold 10,000 shares of Alliance Resource Partners stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $28.00, for a total value of $280,000.00. Following the completion of the sale, the senior vice president now directly owns 157,946 shares in the company, valued at $4,422,488. The trade was a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 16.80% of the company’s stock.

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.