Legacy Financial Group Inc. Buys Shares of 9,223 Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Legacy Financial Group Inc. purchased a new stake in shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,223 shares of the energy company’s stock, valued at approximately $226,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Atlanta Consulting Group Advisors LLC purchased a new stake in Alliance Resource Partners in the first quarter valued at $23,567,000. Oppenheimer & Co. Inc. purchased a new stake in Alliance Resource Partners in the 2nd quarter valued at about $6,595,000. Magnolia Group LLC lifted its position in Alliance Resource Partners by 7.1% in the first quarter. Magnolia Group LLC now owns 3,443,871 shares of the energy company’s stock valued at $69,050,000 after buying an additional 229,700 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in Alliance Resource Partners during the first quarter worth about $3,566,000. Finally, Progeny 3 Inc. increased its position in shares of Alliance Resource Partners by 5.1% during the first quarter. Progeny 3 Inc. now owns 2,732,061 shares of the energy company’s stock valued at $54,778,000 after acquiring an additional 132,630 shares during the last quarter. 18.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. Benchmark upped their price target on Alliance Resource Partners from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th.

Alliance Resource Partners Stock Performance

Shares of Alliance Resource Partners stock opened at $23.53 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.53 and a quick ratio of 1.80. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 5.15 and a beta of 1.13. The business has a 50-day moving average of $24.04 and a 200 day moving average of $22.82. Alliance Resource Partners, L.P. has a 12 month low of $18.32 and a 12 month high of $26.21.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, July 29th. The energy company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.16). Alliance Resource Partners had a net margin of 21.04% and a return on equity of 27.54%. The business had revenue of $593.35 million during the quarter, compared to analysts’ expectations of $624.72 million. During the same period in the previous year, the business posted $1.30 EPS. As a group, sell-side analysts forecast that Alliance Resource Partners, L.P. will post 3.56 earnings per share for the current year.

Alliance Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $2.80 annualized dividend and a dividend yield of 11.90%. Alliance Resource Partners’s dividend payout ratio (DPR) is 61.27%.

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.